Truist Financial Corp Acquires 3,550 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Truist Financial Corp increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 24.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,081 shares of the transportation company’s stock after buying an additional 3,550 shares during the quarter. Truist Financial Corp’s holdings in Landstar System were worth $2,852,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Advisor Group Holdings Inc. boosted its holdings in Landstar System by 10.5% in the third quarter. Advisor Group Holdings Inc. now owns 8,530 shares of the transportation company’s stock valued at $1,347,000 after purchasing an additional 810 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Landstar System by 40.8% in the third quarter. PNC Financial Services Group Inc. now owns 2,177 shares of the transportation company’s stock valued at $344,000 after purchasing an additional 631 shares during the last quarter. Hancock Whitney Corp boosted its holdings in Landstar System by 1.5% in the third quarter. Hancock Whitney Corp now owns 126,999 shares of the transportation company’s stock valued at $20,043,000 after purchasing an additional 1,843 shares during the last quarter. Donaldson Capital Management LLC boosted its holdings in Landstar System by 70.1% in the third quarter. Donaldson Capital Management LLC now owns 26,590 shares of the transportation company’s stock valued at $4,196,000 after purchasing an additional 10,959 shares during the last quarter. Finally, Treasurer of the State of North Carolina boosted its holdings in Landstar System by 3.5% in the third quarter. Treasurer of the State of North Carolina now owns 13,768 shares of the transportation company’s stock valued at $2,173,000 after purchasing an additional 469 shares during the last quarter. 96.30% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ LSTR opened at $167.26 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.67 and a current ratio of 1.67. The firm has a market cap of $6.37 billion, a PE ratio of 19.25, a P/E/G ratio of 1.42 and a beta of 1.02. Landstar System, Inc. has a one year low of $138.30 and a one year high of $188.63. The firm’s fifty day moving average is $173.57 and its two-hundred day moving average is $165.94.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, October 19th. The transportation company reported $2.58 EPS for the quarter, beating analysts’ consensus estimates of $2.50 by $0.08. The company had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.70 billion. Landstar System had a net margin of 5.66% and a return on equity of 43.36%. Landstar System’s quarterly revenue was up 59.8% on a year-over-year basis. During the same period in the previous year, the business posted $1.61 earnings per share. Research analysts predict that Landstar System, Inc. will post 9.77 earnings per share for the current year.

The firm also recently disclosed a dividend, which will be paid on Friday, January 21st. Shareholders of record on Friday, January 7th will be paid a $2.00 dividend. The ex-dividend date of this dividend is Thursday, January 6th. Landstar System’s dividend payout ratio is presently 11.51%.

Several equities research analysts have recently issued reports on the stock. Stephens increased their target price on shares of Landstar System from $175.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, October 22nd. Zacks Investment Research downgraded shares of Landstar System from a “buy” rating to a “hold” rating and set a $187.00 price target for the company. in a research report on Wednesday, December 29th. Morgan Stanley increased their price target on shares of Landstar System from $119.00 to $122.00 and gave the company an “underweight” rating in a research note on Monday, October 4th. Truist increased their price objective on shares of Landstar System from $155.00 to $165.00 and gave the stock a “hold” rating in a research report on Friday, October 22nd. Finally, Wells Fargo & Company raised their price target on shares of Landstar System from $158.00 to $162.00 and gave the company an “equal weight” rating in a research report on Thursday, October 14th. Three equities research analysts have rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus target price of $164.56.

Landstar System Profile

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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