Corebridge Financial Inc. Decreases Position in Landstar System, Inc. (NASDAQ:LSTR)

Corebridge Financial Inc. lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,976 shares of the transportation company’s stock after selling 1,950 shares during the quarter. Corebridge Financial Inc.’s holdings in Landstar System were worth $6,870,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Landstar System during the 4th quarter valued at about $63,816,000. Corient Private Wealth LLC increased its stake in shares of Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company’s stock worth $50,509,000 after purchasing an additional 271,417 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Landstar System in the 4th quarter valued at approximately $8,463,000. Boston Trust Walden Corp grew its holdings in Landstar System by 21.1% during the 4th quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company’s stock valued at $47,695,000 after buying an additional 48,312 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Landstar System by 509.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,048 shares of the transportation company’s stock valued at $10,397,000 after buying an additional 46,014 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of analyst reports. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Friday, January 31st. Truist Financial began coverage on shares of Landstar System in a research note on Thursday, March 13th. They issued a “hold” rating and a $160.00 target price for the company. JPMorgan Chase & Co. decreased their price target on shares of Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Stifel Nicolaus lifted their price target on shares of Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a report on Thursday, January 23rd. Finally, Susquehanna reduced their price objective on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $166.73.

Landstar System Stock Performance

Shares of LSTR stock opened at $147.37 on Friday. The firm has a market capitalization of $5.20 billion, a price-to-earnings ratio of 26.70 and a beta of 0.82. The company has a 50 day moving average price of $159.43 and a 200 day moving average price of $173.69. Landstar System, Inc. has a one year low of $144.13 and a one year high of $196.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. Sell-side analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.98%. The ex-dividend date was Tuesday, February 18th. Landstar System’s dividend payout ratio is currently 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.