Mackenzie Financial Corp Purchases 827 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Mackenzie Financial Corp raised its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 12.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,271 shares of the transportation company’s stock after acquiring an additional 827 shares during the period. Mackenzie Financial Corp’s holdings in Landstar System were worth $1,408,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. AE Wealth Management LLC bought a new stake in shares of Landstar System in the third quarter valued at approximately $223,000. SG Americas Securities LLC boosted its stake in shares of Landstar System by 10.9% in the third quarter. SG Americas Securities LLC now owns 6,686 shares of the transportation company’s stock valued at $1,183,000 after buying an additional 658 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of Landstar System in the third quarter valued at approximately $108,000. DAVENPORT & Co LLC boosted its stake in shares of Landstar System by 1.9% in the third quarter. DAVENPORT & Co LLC now owns 9,374 shares of the transportation company’s stock valued at $1,659,000 after buying an additional 177 shares during the period. Finally, Boston Trust Walden Corp boosted its stake in shares of Landstar System by 6.2% in the third quarter. Boston Trust Walden Corp now owns 233,132 shares of the transportation company’s stock valued at $41,250,000 after buying an additional 13,655 shares during the period. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the company’s 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 transaction, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Landstar System Stock Down 0.6 %

NASDAQ:LSTR opened at $171.10 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00. Landstar System, Inc. has a one year low of $161.13 and a one year high of $208.62. The firm’s 50 day simple moving average is $185.05 and its 200 day simple moving average is $183.53. The company has a market cap of $6.12 billion, a PE ratio of 23.28, a P/E/G ratio of 4.52 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.62 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.63 by ($0.01). Landstar System had a net margin of 4.99% and a return on equity of 26.73%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.25 billion. On average, research analysts anticipate that Landstar System, Inc. will post 6.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LSTR shares. Wells Fargo & Company boosted their price target on Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price for the company in a research note on Wednesday, January 10th. Susquehanna cut their target price on Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a research note on Monday, March 25th. Stifel Nicolaus cut their target price on Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a research note on Friday, February 2nd. Finally, UBS Group upped their target price on Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $184.55.

About Landstar System

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.