Ameriprise Financial Inc. increased its stake in Landstar System, Inc. (NASDAQ:LSTR – Free Report) by 120.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,297 shares of the transportation company’s stock after acquiring an additional 90,391 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.47% of Landstar System worth $28,408,000 at the end of the most recent reporting period.
A number of other large investors 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 fourth quarter valued at about $25,000. HM Payson & Co. purchased a new position in Landstar System in the 4th quarter valued at about $26,000. Trust Co. of Vermont acquired a new stake in Landstar System in the 4th quarter worth about $34,000. Transce3nd LLC purchased a new stake in Landstar System during the 4th quarter worth approximately $60,000. Finally, Jones Financial Companies Lllp increased its stake in Landstar System by 225.5% during the 4th quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock worth $154,000 after buying an additional 620 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages have recently issued reports on LSTR. Susquehanna lowered their price target on Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a research note on Monday, April 7th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. Truist Financial dropped their target price on shares of Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a report on Thursday, April 24th. TD Cowen decreased their price target on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research note on Thursday, April 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $155.67.
Landstar System Trading Down 2.5%
Shares of Landstar System stock opened at $140.21 on Wednesday. The stock has a 50 day moving average of $142.46 and a 200 day moving average of $162.99. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 25.40 and a beta of 0.92. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86.
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.
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