Ascent Group LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,920 shares of the transportation company's stock, valued at approximately $1,118,000.
A number of other hedge funds have also made changes to their positions in LSTR. Point72 Asia Singapore Pte. Ltd. boosted its holdings in Landstar System by 419.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company's stock worth $695,000 after purchasing an additional 2,973 shares during the period. Point72 Hong Kong Ltd bought a new stake in Landstar System in the third quarter valued at $752,000. Edgestream Partners L.P. lifted its stake in Landstar System by 293.6% in the third quarter. Edgestream Partners L.P. now owns 42,240 shares of the transportation company's stock valued at $7,978,000 after buying an additional 31,508 shares during the last quarter. Verition Fund Management LLC lifted its stake in Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company's stock valued at $11,144,000 after buying an additional 12,931 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in Landstar System by 22.3% in the third quarter. Captrust Financial Advisors now owns 13,893 shares of the transportation company's stock valued at $2,624,000 after buying an additional 2,534 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.
Landstar System Trading Up 1.7 %
Shares of Landstar System stock traded up $3.08 during trading hours on Wednesday, hitting $187.31. The company's stock had a trading volume of 246,077 shares, compared to its average volume of 253,679. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40. The stock has a 50 day moving average of $184.39 and a 200 day moving average of $183.67. The company has a market capitalization of $6.62 billion, a PE ratio of 32.13 and a beta of 0.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21.
Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm's quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.71 earnings per share. Analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current year.
Landstar System Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. Landstar System's dividend payout ratio is currently 24.70%.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on LSTR. The Goldman Sachs Group cut their price objective on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a research note on Wednesday, October 9th. Susquehanna dropped their price target on shares of Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. TD Cowen dropped their price target on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Evercore ISI dropped their price target on Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $174.25.
View Our Latest Analysis on LSTR
Insider Buying and Selling
In related news, CFO James P. Todd sold 1,000 shares of the company'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 transaction, the chief financial officer now directly owns 14,083 shares of the company's stock, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.75% of the stock is currently owned by corporate insiders.
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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