Royce & Associates LP Sells 3,094 Shares of Landstar System, Inc. $LSTR

Royce & Associates LP cut its position in Landstar System, Inc. (NASDAQ:LSTR) by 1.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 230,765 shares of the transportation company’s stock after selling 3,094 shares during the period. Royce & Associates LP’s holdings in Landstar System were worth $28,283,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Landstar System in the second quarter valued at about $40,190,000. Fenimore Asset Management Inc increased its holdings in shares of Landstar System by 231.3% during the third quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company’s stock worth $41,809,000 after purchasing an additional 238,173 shares during the period. Clarkston Capital Partners LLC acquired a new stake in shares of Landstar System in the second quarter valued at approximately $27,217,000. Boston Partners grew its position in Landstar System by 14.2% during the second quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock worth $197,310,000 after buying an additional 176,601 shares in the last quarter. Finally, Qube Research & Technologies Ltd raised its holdings in Landstar System by 80.1% in the 2nd quarter. Qube Research & Technologies Ltd now owns 358,754 shares of the transportation company’s stock valued at $49,874,000 after acquiring an additional 159,541 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Susquehanna raised their price target on Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Evercore upped their price target on shares of Landstar System from $125.00 to $151.00 and gave the stock an “in-line” rating in a report on Monday, January 12th. Barclays lifted their price objective on shares of Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Finally, TD Cowen restated a “hold” rating on shares of Landstar System in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $153.00.

Landstar System Price Performance

Shares of LSTR opened at $162.95 on Monday. The business has a 50-day moving average of $150.11 and a 200-day moving average of $137.53. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $165.25. The company has a market capitalization of $5.55 billion, a price-to-earnings ratio of 49.23 and a beta of 0.81. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 11th. Stockholders of record on Wednesday, February 18th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, February 18th. Landstar System’s dividend payout ratio is currently 48.34%.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.