Landstar System, Inc. (NASDAQ:LSTR) Shares Bought by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 509.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,048 shares of the transportation company's stock after purchasing an additional 46,014 shares during the period. BNP Paribas Financial Markets owned about 0.16% of Landstar System worth $10,397,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Landstar System by 8.6% during the third quarter. FMR LLC now owns 162,222 shares of the transportation company's stock worth $30,639,000 after buying an additional 12,894 shares in the last quarter. Bank of Montreal Can boosted its position in Landstar System by 191.4% during the third quarter. Bank of Montreal Can now owns 25,654 shares of the transportation company's stock worth $4,796,000 after acquiring an additional 16,850 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in Landstar System by 2.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,608 shares of the transportation company's stock valued at $681,000 after acquiring an additional 80 shares in the last quarter. Cerity Partners LLC raised its holdings in Landstar System by 63.4% in the 3rd quarter. Cerity Partners LLC now owns 5,507 shares of the transportation company's stock valued at $1,040,000 after acquiring an additional 2,137 shares during the last quarter. Finally, Studio Investment Management LLC lifted its stake in Landstar System by 5.0% in the 3rd quarter. Studio Investment Management LLC now owns 2,263 shares of the transportation company's stock worth $427,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Stock Up 0.7 %

Shares of NASDAQ LSTR traded up $1.28 during mid-day trading on Monday, hitting $187.20. The company had a trading volume of 238,117 shares, compared to its average volume of 253,707. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The company has a market capitalization of $6.61 billion, a PE ratio of 31.89 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The business's 50-day simple moving average is $184.24 and its 200 day simple moving average is $183.62.

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 (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the previous year, the business posted $1.71 EPS. The business's quarterly revenue was down 5.8% compared to the same quarter last year. On average, 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 announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid 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 dividend yield of 0.77%. Landstar System's payout ratio is currently 24.70%.

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were 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 owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LSTR has been the subject of several recent research reports. UBS Group increased their price target on 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 Landstar System from an "outperform" rating to a "market perform" rating in a report on Friday, November 15th. Evercore ISI dropped their price objective on shares of Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a report on Wednesday, October 30th. TD Cowen reduced their target price on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Finally, Stephens dropped their price target on shares of Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company 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. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and an average price target of $174.25.

About Landstar System

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.