Acadian Asset Management LLC Reduces Stake in Landstar System, Inc. (NASDAQ:LSTR)

Acadian Asset Management LLC, a prominent institutional investor, has significantly reduced its stake in Landstar System, Inc. (NASDAQ:LSTR) by 87.0% during the 1st quarter. This move saw the investor sell 23,610 shares of the transportation company’s stock, leaving them with 3,540 shares valued at $682,000.

Other hedge funds and institutional investors have also been active in trading Landstar System shares. Norges Bank acquired a new stake in the company worth $64,175,000, while Victory Capital Management Inc. increased its position by 19.2% to 1,394,389 shares valued at $270,024,000. UBS Group AG and Vaughan Nelson Investment Management L.P. also saw significant increases in their holdings of Landstar System stock.

Wall Street analysts have been closely monitoring Landstar System, with several brokerages issuing reports on the company. Evercore ISI raised their target price to $173.00, while Raymond James initiated coverage with an “outperform” rating and a $205.00 price target. Benchmark, Susquehanna, and Morgan Stanley also provided their insights on the company’s performance.

Shares of LSTR stock opened at $192.04 on Friday, with a market capitalization of $6.87 billion and a price-to-earnings ratio of 29.54. The company’s recent quarterly earnings report exceeded expectations, with a return on equity of 23.11% and a net margin of 4.63%. Analysts anticipate Landstar System to post 6.24 earnings per share for the current year.

Landstar System, Inc. offers integrated transportation management solutions in the US, Canada, Mexico, and internationally. The company operates in two segments: Transportation Logistics and Insurance, providing a wide range of transportation services to various industries.

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