The Manufacturers Life Insurance Company Has $4.80 Million Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

The Manufacturers Life Insurance Company lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,955 shares of the transportation company’s stock after selling 628 shares during the period. The Manufacturers Life Insurance Company’s holdings in Landstar System were worth $4,804,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in Landstar System by 16.1% in the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company’s stock valued at $646,985,000 after buying an additional 521,695 shares during the period. Victory Capital Management Inc. boosted its stake in Landstar System by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after acquiring an additional 11,146 shares during the last quarter. Geode Capital Management LLC raised its holdings in Landstar System by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock worth $140,602,000 after purchasing an additional 4,392 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company’s stock worth $106,184,000 after purchasing an additional 9,190 shares in the last quarter. Finally, First Trust Advisors LP grew its holdings in shares of Landstar System by 28.9% in the 4th quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company’s stock valued at $90,398,000 after buying an additional 117,961 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $136.15 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.96 and a quick ratio of 2.21. The business has a 50-day moving average of $143.06 and a 200-day moving average of $163.78. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 24.66 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.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on LSTR shares. Susquehanna reduced their target price on Landstar System from $130.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Stifel Nicolaus lowered their target price on Landstar System from $162.00 to $147.00 and set a “hold” rating for the company in a research note on Monday, April 14th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research note on Monday, April 14th. JPMorgan Chase & Co. lowered 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 report on Thursday, April 3rd. Finally, TD Cowen cut their price objective on shares of Landstar System from $161.00 to $145.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $155.67.

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.