Assetmark Inc. Reduces Position in Landstar System, Inc. (NASDAQ:LSTR)

Assetmark Inc. reduced its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 0.4% during the 4th quarter, Holdings Channel reports. The fund owned 38,565 shares of the transportation company’s stock after selling 147 shares during the period. Assetmark Inc.’s holdings in Landstar System were worth $7,468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in LSTR. SRS Capital Advisors Inc. boosted its holdings in shares of Landstar System by 209.7% in the 4th quarter. SRS Capital Advisors Inc. now owns 192 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 130 shares during the last quarter. Montag A & Associates Inc. purchased a new stake in shares of Landstar System in the 4th quarter valued at $48,000. Larson Financial Group LLC purchased a new stake in shares of Landstar System in the 3rd quarter valued at $49,000. GAMMA Investing LLC purchased a new stake in shares of Landstar System in the 4th quarter valued at $58,000. Finally, Cary Street Partners Investment Advisory LLC boosted its holdings in shares of Landstar System by 126.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 565 shares of the transportation company’s stock valued at $100,000 after acquiring an additional 315 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. UBS Group upped their price objective on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Friday, April 26th. Susquehanna decreased their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, April 26th. Stifel Nicolaus decreased their target price on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a research note on Monday, April 29th. Finally, Raymond James initiated coverage on shares of Landstar System in a research note on Wednesday, May 15th. They issued an “outperform” rating and a $205.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.00.

Landstar System Stock Performance

NASDAQ:LSTR opened at $180.81 on Thursday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.22 and a current ratio of 2.22. The company has a fifty day moving average of $181.26 and a two-hundred day moving average of $184.84. The stock has a market capitalization of $6.47 billion, a PE ratio of 27.82, a P/E/G ratio of 5.02 and a beta of 0.86. Landstar System, Inc. has a fifty-two week low of $161.13 and a fifty-two week high of $208.62.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%. As a group, research analysts forecast that Landstar System, Inc. will post 6.31 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 0.73%. The ex-dividend date is Tuesday, May 7th. Landstar System’s dividend payout ratio (DPR) is 20.31%.

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.