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

Ballast Asset Management LP decreased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 24,082 shares of the transportation company’s stock after selling 827 shares during the quarter. Landstar System makes up about 2.1% of Ballast Asset Management LP’s investment portfolio, making the stock its 18th largest position. Ballast Asset Management LP’s holdings in Landstar System were worth $4,139,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC acquired a new stake in shares of Landstar System in the 4th quarter worth $25,000. HM Payson & Co. purchased a new stake in shares of Landstar System in the fourth quarter valued at about $26,000. Trust Co. of Vermont acquired a new stake in Landstar System during the fourth quarter worth about $34,000. TD Private Client Wealth LLC raised its stake in Landstar System by 27.9% during the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock worth $137,000 after purchasing an additional 158 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Landstar System by 225.5% in the 4th quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock valued at $154,000 after purchasing an additional 620 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Up 1.9 %

Shares of NASDAQ:LSTR opened at $150.20 on Tuesday. The firm has a market capitalization of $5.30 billion, a PE ratio of 27.21 and a beta of 0.82. Landstar System, Inc. has a 1 year low of $144.13 and a 1 year high of $196.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The firm’s 50-day moving average is $158.95 and its two-hundred day moving average is $173.37.

Landstar System (NASDAQ:LSTR) last announced 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 return on equity of 19.56% and a net margin of 4.07%. Analysts predict that Landstar System, Inc. will post 6.1 EPS for the current year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Tuesday, February 18th were issued a $0.36 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a yield of 0.96%. Landstar System’s dividend payout ratio (DPR) is presently 26.09%.

Analysts Set New Price Targets

LSTR has been the subject of a number of recent analyst reports. Benchmark restated a “hold” rating on shares of Landstar System in a report on Friday, January 31st. JPMorgan Chase & Co. cut their target price on Landstar System from $184.00 to $177.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Stifel Nicolaus upped their price target on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Susquehanna lowered their price target on Landstar System from $150.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, March 26th. Finally, Truist Financial initiated coverage on shares of Landstar System in a report on Thursday, March 13th. They issued a “hold” rating and a $160.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $166.73.

Landstar System Company 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.