Victory Capital Management Inc. Buys 224,286 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Victory Capital Management Inc. lifted its position in Landstar System, Inc. (NASDAQ:LSTR) by 19.2% during the fourth quarter, according to the company in 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 buying an additional 224,286 shares during the quarter. Victory Capital Management Inc. owned approximately 3.88% of Landstar System worth $270,024,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in shares of Landstar System in the 3rd quarter worth $49,000. GAMMA Investing LLC purchased a new stake in Landstar System during the fourth quarter valued at about $58,000. Cary Street Partners Investment Advisory LLC lifted its stake in Landstar System by 126.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 565 shares of the transportation company’s stock worth $100,000 after purchasing an additional 315 shares during the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Landstar System by 17.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 616 shares of the transportation company’s stock worth $119,000 after purchasing an additional 92 shares in the last quarter. Finally, Blue Trust Inc. increased its position in shares of Landstar System by 18.7% during the 4th quarter. Blue Trust Inc. now owns 755 shares of the transportation company’s stock valued at $134,000 after purchasing an additional 119 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Down 0.7 %

LSTR traded down $1.21 during trading on Wednesday, reaching $173.20. The stock had a trading volume of 111,830 shares, compared to its average volume of 274,984. The stock’s 50 day moving average is $183.65 and its two-hundred day moving average is $183.53. The company has a market capitalization 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 current ratio of 2.22, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a one year low of $161.13 and a one year high of $208.62.

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

Landstar System Announces Dividend

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

Insider Activity at Landstar System

In other news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction that occurred on Monday, February 5th. The shares were 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 document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective 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. Susquehanna lowered 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. Wells Fargo & Company raised their target price on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Friday, April 26th. Finally, Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a report on Wednesday, January 10th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus target price of $183.91.

Landstar System 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.