Skandinaviska Enskilda Banken AB publ Sells 16,100 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Posted by on May 14th, 2023

Skandinaviska Enskilda Banken AB publ lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 83.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,200 shares of the transportation company’s stock after selling 16,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Landstar System were worth $521,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Guardian Wealth Advisors LLC acquired a new position in Landstar System in the third quarter worth $29,000. Wipfli Financial Advisors LLC acquired a new position in Landstar System in the third quarter worth $39,000. FourThought Financial LLC boosted its stake in Landstar System by 32.3% in the third quarter. FourThought Financial LLC now owns 393 shares of the transportation company’s stock worth $57,000 after purchasing an additional 96 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Landstar System by 39.1% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 388 shares of the transportation company’s stock worth $63,000 after purchasing an additional 109 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Landstar System by 92.3% in the third quarter. Bessemer Group Inc. now owns 596 shares of the transportation company’s stock worth $86,000 after purchasing an additional 286 shares in the last quarter. Institutional investors and hedge funds own 98.90% of the company’s stock.

Landstar System Stock Down 0.0 %

Shares of Landstar System stock opened at $176.85 on Friday. Landstar System, Inc. has a 1 year low of $137.15 and a 1 year high of $188.46. The business has a 50-day moving average of $176.94 and a two-hundred day moving average of $172.73. The company has a market capitalization of $6.35 billion, a P/E ratio of 16.72, a price-to-earnings-growth ratio of 1.72 and a beta of 0.90. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.83 and a quick ratio of 1.64.

Landstar System (NASDAQ:LSTR – Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The transportation company reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.07 by $0.10. Landstar System had a return on equity of 43.26% and a net margin of 5.57%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. During the same period in the prior year, the company earned $3.34 earnings per share. The company’s revenue for the quarter was down 27.1% compared to the same quarter last year. As a group, equities analysts predict that Landstar System, Inc. will post 8.67 EPS for the current year.

Landstar System Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 4th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. Landstar System’s dividend payout ratio (DPR) is currently 11.34%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on LSTR. Raymond James raised Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 price target on the stock in a research note on Monday, February 6th. StockNews.com lowered Landstar System from a “buy” rating to a “hold” rating in a research note on Friday, May 5th. Robert W. Baird upped their price target on Landstar System from $160.00 to $180.00 in a research note on Friday, February 3rd. Stephens upped their price target on Landstar System from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, Morgan Stanley upped their price target on Landstar System from $140.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 4th. Nine investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $166.83.

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.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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