Zions Bancorporation N.A. Raises Position in Landstar System, Inc. (NASDAQ:LSTR)

Zions Bancorporation N.A. boosted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 14.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,606 shares of the transportation company’s stock after buying an additional 1,195 shares during the period. Zions Bancorporation N.A.’s holdings in Landstar System were worth $1,651,000 at the end of the most recent quarter.

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

Landstar System Trading Down 0.5 %

Shares of LSTR stock opened at $149.28 on Wednesday. Landstar System, Inc. has a 1-year low of $144.13 and a 1-year high of $196.86. The firm has a market cap of $5.27 billion, a PE ratio of 27.04 and a beta of 0.82. The company has a 50-day moving average of $161.07 and a two-hundred day moving average of $174.26. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share 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%. On average, analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend was Tuesday, February 18th. Landstar System’s payout ratio is 26.09%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Friday, January 31st. JPMorgan Chase & Co. cut their price target on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Truist Financial initiated coverage on Landstar System in a research note on Thursday, March 13th. They set a “hold” rating and a $160.00 price objective on the stock. Finally, Stifel Nicolaus raised their target price on Landstar System from $164.00 to $169.00 and gave the stock a “hold” rating in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $169.45.

Landstar System Profile

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.