Landstar System (NASDAQ:LSTR – Free Report) had its price target reduced by Stifel Nicolaus from $171.00 to $166.00 in a research note released on Friday, Benzinga reports. Stifel Nicolaus currently has a hold rating on the transportation company’s stock.
Other analysts have also issued reports about the stock. Susquehanna boosted their target price on shares of Landstar System from $162.00 to $170.00 and gave the company a neutral rating in a research report on Friday. StockNews.com assumed coverage on shares of Landstar System in a research report on Thursday, October 5th. They issued a hold rating for the company. Wolfe Research raised shares of Landstar System from a peer perform rating to an outperform rating and set a $205.00 target price on the stock in a report on Wednesday, January 10th. Stephens lowered their target price on shares of Landstar System from $210.00 to $190.00 and set an equal weight rating on the stock in a report on Friday, October 27th. Finally, Morgan Stanley lowered their target price on shares of Landstar System from $150.00 to $145.00 and set an equal weight rating on the stock in a report on Monday, October 30th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $185.00.
Landstar System Stock Up 0.5 %
Landstar System Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 8th. Investors of record on Monday, February 12th will be given a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 0.69%. The ex-dividend date of this dividend is Friday, February 9th. Landstar System’s payout ratio is currently 17.96%.
Hedge Funds Weigh In On Landstar System
A number of institutional investors have recently bought and sold shares of LSTR. BlackRock Inc. grew its stake in shares of Landstar System by 0.8% during the 1st quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company’s stock worth $616,286,000 after purchasing an additional 31,476 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Landstar System by 0.8% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,273,485 shares of the transportation company’s stock worth $586,805,000 after purchasing an additional 25,366 shares during the last quarter. Morgan Stanley raised its holdings in shares of Landstar System by 756.6% during the 4th quarter. Morgan Stanley now owns 3,045,902 shares of the transportation company’s stock worth $496,178,000 after acquiring an additional 2,690,326 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Landstar System by 2.6% during the 2nd quarter. Victory Capital Management Inc. now owns 1,549,559 shares of the transportation company’s stock worth $298,352,000 after acquiring an additional 38,868 shares during the period. Finally, State Street Corp raised its holdings in shares of Landstar System by 4.1% during the 1st quarter. State Street Corp now owns 1,179,816 shares of the transportation company’s stock worth $177,952,000 after acquiring an additional 46,997 shares during the period. 99.52% of the stock is owned by hedge funds and other institutional investors.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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