314,722 Shares in Landstar System, Inc. (NASDAQ:LSTR) Acquired by Norges Bank

Norges Bank acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 314,722 shares of the transportation company’s stock, valued at approximately $54,088,000.

A number of other hedge funds also recently made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in shares of Landstar System during the fourth quarter worth about $25,000. HM Payson & Co. acquired a new stake in Landstar System during the 4th quarter valued at approximately $26,000. Trust Co. of Vermont purchased a new stake in Landstar System during the 4th quarter worth approximately $34,000. TD Private Client Wealth LLC raised its position in shares of Landstar System by 27.9% in the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock valued at $137,000 after purchasing an additional 158 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Landstar System by 225.5% during the 4th quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock valued at $154,000 after buying an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 1.4 %

Landstar System stock opened at $136.64 on Friday. The firm has a market capitalization of $4.83 billion, a P/E ratio of 24.75 and a beta of 0.82. The company has a 50-day simple moving average of $156.41 and a 200-day simple moving average of $172.43. Landstar System, Inc. has a one year low of $132.41 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 announced its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 EPS 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%. As a group, equities analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were paid a $0.36 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.44 annualized dividend and a dividend yield of 1.05%. Landstar System’s payout ratio is 26.09%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LSTR. Truist Financial cut their price target on shares of Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a report on Thursday. TD Cowen reduced their price target on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday. Stifel Nicolaus boosted their price objective on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a report on Thursday, January 23rd. Susquehanna reduced their target price on Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Thursday. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $160.45.

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.