Amalgamated Bank cut its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,710 shares of the transportation company's stock after selling 5,565 shares during the quarter. Amalgamated Bank's holdings in Landstar System were worth $3,156,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of LSTR. Massmutual Trust Co. FSB ADV boosted its position in shares of Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company's stock valued at $26,000 after purchasing an additional 74 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Landstar System in the 2nd quarter worth about $73,000. Mather Group LLC. increased its stake in shares of Landstar System by 183.5% in the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company's stock worth $76,000 after acquiring an additional 255 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Landstar System by 431.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock valued at $83,000 after acquiring an additional 358 shares during the period. Finally, GAMMA Investing LLC lifted its position in Landstar System by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company's stock valued at $92,000 after acquiring an additional 183 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.
Landstar System Stock Performance
NASDAQ:LSTR traded up $2.59 during mid-day trading on Friday, reaching $191.15. The company's stock had a trading volume of 221,625 shares, compared to its average volume of 235,955. The firm's fifty day moving average price is $183.30 and its two-hundred day moving average price is $183.06. Landstar System, Inc. has a 12-month low of $165.39 and a 12-month high of $201.40. The stock has a market cap of $6.75 billion, a P/E ratio of 32.79 and a beta of 0.81. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04.
Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.71 EPS. On average, equities analysts forecast that Landstar System, Inc. will post 5.61 EPS for the current fiscal year.
Landstar System Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Tuesday, November 19th. Landstar System's payout ratio is 24.70%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on LSTR. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a research note on Wednesday, July 31st. TD Cowen reduced their price objective on Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Stephens dropped their target price on Landstar System from $190.00 to $180.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their target price on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, Raymond James lowered their price target on Landstar System from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, Landstar System has an average rating of "Hold" and a consensus price target of $174.25.
Check Out Our Latest Stock Analysis on Landstar System
Insiders Place Their Bets
In related news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction 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 transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.00% of the company's stock.
About Landstar System
(
Free Report)
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.
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