Victory Capital Management Inc. Has $270.02 Million Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Victory Capital Management Inc. lifted its position in Landstar System, Inc. (NASDAQ:LSTR) by 19.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394,389 shares of the transportation company’s stock after purchasing an additional 224,286 shares during the quarter. Victory Capital Management Inc.’s holdings in Landstar System were worth $270,024,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LSTR. AE Wealth Management LLC acquired a new position in Landstar System in the third quarter worth about $223,000. SG Americas Securities LLC raised its holdings in shares of Landstar System by 10.9% in the 3rd quarter. SG Americas Securities LLC now owns 6,686 shares of the transportation company’s stock worth $1,183,000 after buying an additional 658 shares in the last quarter. Simplicity Solutions LLC lifted its position in shares of Landstar System by 7.4% during the 3rd quarter. Simplicity Solutions LLC now owns 4,357 shares of the transportation company’s stock worth $771,000 after buying an additional 300 shares during the period. Commonwealth Equity Services LLC boosted its stake in Landstar System by 100.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 3,802 shares of the transportation company’s stock valued at $673,000 after buying an additional 1,908 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its position in Landstar System by 5.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 2,561 shares of the transportation company’s stock valued at $453,000 after acquiring an additional 141 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Trading Down 0.7 %

Shares of LSTR stock traded down $1.21 during trading hours on Wednesday, reaching $173.20. The company had a trading volume of 111,830 shares, compared to its average volume of 274,984. The company has a 50 day moving average of $183.65 and a 200 day moving average of $183.53. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 26.83, a P/E/G ratio of 4.74 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.22 and a quick ratio of 2.00. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $208.62.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Landstar System had a return on equity of 23.11% and a net margin of 4.63%. On average, equities research analysts anticipate that Landstar System, Inc. will post 6.62 EPS for the current year.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend is Tuesday, May 7th. Landstar System’s dividend payout ratio (DPR) is currently 20.31%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on LSTR shares. Benchmark restated a “hold” rating on shares of Landstar System in a research note on Friday, April 26th. Stifel Nicolaus dropped their price objective on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating for the company in a report on Monday. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a research report on Wednesday, January 10th. Susquehanna cut their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Wells Fargo & Company increased their target price on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Landstar System presently has a consensus rating of “Hold” and an average price target of $183.91.

Insider Transactions at Landstar System

In related news, VP Michael K. Kneller sold 12,219 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the sale, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The sale was disclosed in a filing with the SEC, which is available at this link. 0.75% of the stock is currently owned by corporate insiders.

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.