6,500 Shares in Landstar System, Inc. (NASDAQ:LSTR) Acquired by ING Groep NV

ING Groep NV purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the third quarter, according to its most recent filing with the SEC. The firm purchased 6,500 shares of the transportation company's stock, valued at approximately $1,228,000.

Several other hedge funds have also recently bought and sold shares of LSTR. Vanguard Group Inc. boosted its position in Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company's stock worth $670,812,000 after purchasing an additional 25,387 shares during the period. Tidal Investments LLC grew its position in Landstar System by 125.4% in the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company's stock valued at $2,467,000 after acquiring an additional 7,118 shares during the last quarter. Comerica Bank grew its position in Landstar System by 18.5% in the first quarter. Comerica Bank now owns 31,154 shares of the transportation company's stock valued at $6,005,000 after acquiring an additional 4,853 shares during the last quarter. Harbor Capital Advisors Inc. grew its position in Landstar System by 362.6% in the second quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company's stock valued at $765,000 after acquiring an additional 3,249 shares during the last quarter. Finally, Algert Global LLC grew its position in Landstar System by 7.5% in the second quarter. Algert Global LLC now owns 39,929 shares of the transportation company's stock valued at $7,366,000 after acquiring an additional 2,798 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO James P. Todd sold 1,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,083 shares of the company's stock, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company's stock.

Landstar System Stock Performance

LSTR traded up $0.40 during midday trading on Monday, reaching $183.22. The company had a trading volume of 47,162 shares, compared to its average volume of 256,032. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $183.98 and a two-hundred day moving average of $183.52. The company has a market cap of $6.47 billion, a P/E ratio of 31.63 and a beta of 0.81. Landstar System, Inc. has a 1 year low of $165.39 and a 1 year high of $201.40.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.71 EPS. As a group, equities research analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System's payout ratio is 24.70%.

Analysts Set New Price Targets

LSTR has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Evercore ISI lowered their price target on Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a research report on Wednesday, October 30th. Raymond James cut Landstar System from an "outperform" rating to a "market perform" rating in a report on Friday. TD Cowen lowered their price target on Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. Finally, Susquehanna dropped their price target on Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $174.25.

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.