Crossmark Global Holdings Inc. Grows Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Posted by Defense World Staff on Mar 30th, 2023

Crossmark Global Holdings Inc. boosted its position in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,636 shares of the transportation company’s stock after buying an additional 996 shares during the quarter. Crossmark Global Holdings Inc. owned approximately 0.06% of Landstar System worth $3,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. BlackRock Inc. increased its position in Landstar System by 0.8% in the first quarter. BlackRock Inc. now owns 4,085,967 shares of the transportation company’s stock worth $616,286,000 after buying an additional 31,476 shares during the last quarter. Boston Partners lifted its stake in Landstar System by 28.5% during the third quarter. Boston Partners now owns 1,664,888 shares of the transportation company’s stock worth $240,541,000 after purchasing an additional 368,802 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Landstar System by 1.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,525,345 shares of the transportation company’s stock worth $221,816,000 after purchasing an additional 22,132 shares during the last quarter. State Street Corp lifted its stake in Landstar System by 4.1% during the first quarter. State Street Corp now owns 1,179,816 shares of the transportation company’s stock worth $177,952,000 after purchasing an additional 46,997 shares during the last quarter. Finally, FMR LLC lifted its stake in Landstar System by 13.3% during the second quarter. FMR LLC now owns 844,831 shares of the transportation company’s stock worth $122,856,000 after purchasing an additional 98,859 shares during the last quarter. 98.90% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on LSTR shares. Wells Fargo & Company upped their price objective on shares of Landstar System from $142.00 to $155.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 4th. Robert W. Baird upped their price target on Landstar System from $160.00 to $180.00 in a research note on Friday, February 3rd. Raymond James raised Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 target price on the stock in a report on Monday, February 6th. StockNews.com initiated coverage on Landstar System in a report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Morgan Stanley upgraded shares of Landstar System from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $120.00 to $140.00 in a research note on Monday, January 9th. Ten equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $164.82.

Insider Transactions at Landstar System

In other news, COO Joseph J. Beacom sold 7,000 shares of the company’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $182.94, for a total value of $1,280,580.00. Following the completion of the sale, the chief operating officer now directly owns 17,578 shares in the company, valued at approximately $3,215,719.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Joseph J. Beacom sold 7,000 shares of the stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $182.94, for a total value of $1,280,580.00. Following the completion of the sale, the chief operating officer now directly owns 17,578 shares of the company’s stock, valued at approximately $3,215,719.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Ricardo S. Coro sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $184.63, for a total transaction of $553,890.00. Following the completion of the transaction, the vice president now owns 22,167 shares of the company’s stock, valued at $4,092,693.21. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Landstar System Stock Performance

Shares of LSTR stock opened at $175.53 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average price of $177.48 and a 200-day moving average price of $165.59. Landstar System, Inc. has a 52 week low of $137.15 and a 52 week high of $188.46. The firm has a market capitalization of $6.32 billion, a PE ratio of 14.94, a P/E/G ratio of 1.63 and a beta of 0.90.

Landstar System (NASDAQ:LSTR – Get Rating) last posted its earnings results on Wednesday, February 1st. The transportation company reported $2.60 EPS for the quarter, missing analysts’ consensus estimates of $2.62 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to the consensus estimate of $1.76 billion. Landstar System had a return on equity of 49.62% and a net margin of 5.79%. The company’s revenue for the quarter was down 13.9% on a year-over-year basis. During the same period last year, the firm posted $2.99 EPS. As a group, equities research analysts expect that Landstar System, Inc. will post 8.87 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 10th. Stockholders of record on Monday, February 13th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend was Friday, February 10th. Landstar System’s dividend payout ratio (DPR) is presently 10.21%.

Landstar System Company Profile

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Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.