Barclays PLC Sells 169,296 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Barclays PLC lessened its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 82.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,873 shares of the transportation company's stock after selling 169,296 shares during the quarter. Barclays PLC owned about 0.10% of Landstar System worth $6,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of LSTR. Quest Partners LLC bought a new stake in Landstar System during the 2nd quarter worth about $73,000. Whittier Trust Co. of Nevada Inc. boosted its position in shares of Landstar System by 431.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock worth $83,000 after purchasing an additional 358 shares during the last quarter. Point72 DIFC Ltd bought a new position in shares of Landstar System in the 2nd quarter worth $106,000. GAMMA Investing LLC grew its stake in shares of Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company's stock worth $107,000 after purchasing an additional 70 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Landstar System in the second quarter valued at about $131,000. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Down 0.4 %

Shares of LSTR stock traded down $0.78 on Thursday, hitting $174.01. 349,878 shares of the stock were exchanged, compared to its average volume of 257,349. The business has a 50-day moving average of $184.27 and a 200 day moving average of $183.96. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The firm has a market capitalization of $6.15 billion, a P/E ratio of 29.85 and a beta of 0.82. 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 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 business 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%. Landstar System's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share. Equities analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be paid a dividend of $2.00 per share. This is an increase from Landstar System's previous special dividend of $1.50. The ex-dividend date is Tuesday, January 7th. Landstar System's dividend payout ratio is currently 24.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Evercore ISI decreased their target price 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. UBS Group boosted their price objective on shares of Landstar System from $184.00 to $186.00 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 report on Friday, November 15th. JPMorgan Chase & Co. boosted 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. Finally, Stephens dropped their price objective on Landstar System from $190.00 to $180.00 and set an "equal weight" rating on the stock in a research note 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 stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $174.25.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were 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 $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is owned by corporate insiders.

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.