Citigroup Inc. Has $13.83 Million Stake in Landstar System, Inc. $LSTR

Citigroup Inc. grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 112.0% during the third quarter, Holdings Channel.com reports. The institutional investor owned 112,870 shares of the transportation company’s stock after acquiring an additional 59,626 shares during the quarter. Citigroup Inc.’s holdings in Landstar System were worth $13,833,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Peterson Wealth Services increased its holdings in shares of Landstar System by 1,108.4% in the third quarter. Peterson Wealth Services now owns 10,960 shares of the transportation company’s stock worth $1,343,000 after acquiring an additional 10,053 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Landstar System by 69.8% in the 3rd quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company’s stock valued at $11,626,000 after purchasing an additional 38,992 shares during the period. Ballast Asset Management LP increased its stake in Landstar System by 28.2% during the 3rd quarter. Ballast Asset Management LP now owns 34,579 shares of the transportation company’s stock worth $4,238,000 after purchasing an additional 7,614 shares in the last quarter. Advantage Alpha Capital Partners LP acquired a new stake in Landstar System during the 2nd quarter worth approximately $2,339,000. Finally, Campbell & CO Investment Adviser LLC lifted its stake in Landstar System by 198.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 4,749 shares of the transportation company’s stock valued at $660,000 after buying an additional 3,157 shares in the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Trading Up 3.4%

LSTR opened at $162.95 on Friday. The stock has a market capitalization of $5.55 billion, a price-to-earnings ratio of 49.23 and a beta of 0.85. The company has a quick ratio of 2.01, a current ratio of 1.75 and a debt-to-equity ratio of 0.06. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $165.25. The company has a 50-day simple moving average of $150.11 and a 200 day simple moving average of $137.45.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 11th. Investors of record on Wednesday, February 18th will be given a dividend of $0.40 per share. The ex-dividend date is Wednesday, February 18th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. Landstar System’s dividend payout ratio (DPR) is currently 48.34%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on LSTR shares. Morgan Stanley increased their price objective on shares of Landstar System from $133.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Monday, December 8th. Susquehanna boosted their price objective on shares of Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a research report on Thursday, January 8th. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Thursday, January 29th. Barclays lifted their price objective on shares of Landstar System from $130.00 to $155.00 and gave the company an “equal weight” rating in a research report on Thursday, January 15th. Finally, Wall Street Zen raised Landstar System from a “sell” rating to a “hold” rating in a research report on Saturday, December 27th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average price target of $153.00.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.