Ballast Asset Management LP Trims Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Ballast Asset Management LP lessened its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,082 shares of the transportation company’s stock after selling 827 shares during the quarter. Landstar System accounts for 2.1% of Ballast Asset Management LP’s portfolio, making the stock its 18th largest position. Ballast Asset Management LP owned approximately 0.07% of Landstar System worth $4,139,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new stake in shares of Landstar System during the fourth quarter worth about $25,000. HM Payson & Co. purchased a new position in Landstar System during the 4th quarter worth approximately $26,000. Trust Co. of Vermont acquired a new stake in Landstar System during the 4th quarter valued at approximately $34,000. TD Private Client Wealth LLC boosted its holdings 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 acquiring an additional 158 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Landstar System by 225.5% in the fourth quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock worth $154,000 after acquiring an additional 620 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on LSTR. Susquehanna lowered their price target on shares of Landstar System from $150.00 to $130.00 and set a “neutral” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. lowered their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Truist Financial began coverage on Landstar System in a research report on Thursday, March 13th. They set a “hold” rating and a $160.00 price target for the company. Stifel Nicolaus upped their price objective on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research report on Thursday, January 23rd. Finally, Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $166.73.

Landstar System Trading Up 1.9 %

Shares of Landstar System stock opened at $150.20 on Tuesday. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a twelve month low of $144.13 and a twelve month high of $196.86. The firm has a market capitalization of $5.30 billion, a PE ratio of 27.21 and a beta of 0.82. The firm’s 50-day moving average price is $158.95 and its 200 day moving average price is $173.37.

Landstar System (NASDAQ:LSTR) last released its 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, sell-side analysts predict that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 annualized dividend and a yield of 0.96%. Landstar System’s dividend payout ratio (DPR) is presently 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.