Algert Global LLC Sells 22,290 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Algert Global LLC lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 55.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,639 shares of the transportation company's stock after selling 22,290 shares during the period. Algert Global LLC's holdings in Landstar System were worth $3,331,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of LSTR. Quadrature Capital Ltd acquired a new stake in Landstar System in the first quarter worth about $477,000. Public Employees Retirement System of Ohio increased its stake in shares of Landstar System by 3.7% during the first quarter. Public Employees Retirement System of Ohio now owns 42,971 shares of the transportation company's stock valued at $8,283,000 after acquiring an additional 1,540 shares during the period. Caxton Associates LP bought a new stake in Landstar System during the first quarter worth approximately $202,000. Bayesian Capital Management LP bought a new stake in Landstar System during the first quarter worth approximately $219,000. Finally, Janus Henderson Group PLC lifted its position in Landstar System by 30.9% in the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company's stock worth $34,880,000 after purchasing an additional 42,740 shares during the period. Institutional investors own 97.95% of the company's stock.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,000 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the sale, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Landstar System Stock Performance

NASDAQ LSTR traded up $2.58 during trading on Tuesday, hitting $187.74. The company's stock had a trading volume of 154,734 shares, compared to its average volume of 254,910. 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 firm has a 50 day moving average price of $183.93 and a 200 day moving average price of $183.56. The firm has a market cap of $6.63 billion, a P/E ratio of 31.76 and a beta of 0.81. Landstar System, Inc. has a 52 week low of $165.39 and a 52 week high of $201.40.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data 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). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $1.71 EPS. Landstar System's revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 19th. Landstar System's dividend payout ratio is 24.70%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LSTR. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Raymond James lowered shares of Landstar System from an "outperform" rating to a "market perform" rating in a research report on Friday, November 15th. Stifel Nicolaus cut their price objective on Landstar System from $164.00 to $160.00 and set a "hold" rating for the company in a research report on Thursday, August 1st. Evercore ISI decreased 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. Finally, Stephens decreased their price target on Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $174.25.

Landstar System Company 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.