Massachusetts Financial Services Co. MA Decreases Stake in Landstar System, Inc. (NASDAQ:LSTR)

Massachusetts Financial Services Co. MA decreased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 4.1% in the 4th quarter, HoldingsChannel reports. The fund owned 13,783 shares of the transportation company’s stock after selling 587 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Landstar System were worth $2,369,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LSTR. State Street Corp grew its stake in shares of Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after purchasing an additional 15,328 shares during the period. Nisa Investment Advisors LLC grew its position in Landstar System by 22.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock worth $2,935,000 after buying an additional 3,150 shares during the period. National Bank of Canada FI increased its holdings in Landstar System by 346.8% in the third quarter. National Bank of Canada FI now owns 6,179 shares of the transportation company’s stock valued at $1,167,000 after buying an additional 4,796 shares in the last quarter. Pictet Asset Management Holding SA lifted its position in shares of Landstar System by 14.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company’s stock valued at $927,000 after acquiring an additional 665 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Landstar System by 5.1% during the 3rd quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock worth $153,685,000 after acquiring an additional 39,223 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. TD Cowen dropped their price objective on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research note on Thursday, April 3rd. Truist Financial dropped their price target on Landstar System from $160.00 to $150.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. Stifel Nicolaus boosted their price objective on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Susquehanna dropped their target price on shares of Landstar System from $130.00 to $120.00 and set a “neutral” rating for the company in a report on Monday. Finally, Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Thursday, April 3rd. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $159.55.

Landstar System Stock Performance

NASDAQ:LSTR opened at $131.55 on Wednesday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The firm has a market cap of $4.65 billion, a PE ratio of 23.83 and a beta of 0.88. The firm has a 50 day simple moving average of $153.85 and a 200-day simple moving average of $171.30. Landstar System, Inc. has a 1-year low of $130.00 and a 1-year high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. On average, equities analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.