Citigroup Inc. Grows Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Citigroup Inc. raised its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 21.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,184 shares of the transportation company's stock after buying an additional 3,354 shares during the period. Citigroup Inc. owned approximately 0.05% of Landstar System worth $3,623,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSTR. Massmutual Trust Co. FSB ADV lifted 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 worth $26,000 after purchasing an additional 74 shares during the last quarter. Quest Partners LLC acquired a new position in shares of Landstar System in the 2nd quarter worth approximately $73,000. Mather Group LLC. boosted its holdings in shares of Landstar System by 183.5% in the second quarter. Mather Group LLC. now owns 394 shares of the transportation company's stock worth $76,000 after buying an additional 255 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Landstar System by 431.3% in the third 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 in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Price Performance

Shares of NASDAQ LSTR traded down $2.80 during trading on Thursday, reaching $184.51. The company had a trading volume of 543,157 shares, compared to its average volume of 254,911. The stock has a 50-day moving average price of $184.39 and a two-hundred day moving average price of $183.67. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $6.52 billion, a PE ratio of 32.13 and a beta of 0.82. Landstar System, Inc. has a twelve month low of $165.39 and a twelve month high of $201.40.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly 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 analyst estimates of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company's revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 earnings per share. As a group, sell-side analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current 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 paid a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Tuesday, November 19th. Landstar System's payout ratio is presently 24.70%.

Insider Activity at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the 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 directly owns 14,083 shares in the company, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Susquehanna dropped their price target on shares of Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. Stephens dropped their price target on 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. Evercore ISI reduced their target price on Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on Landstar System from $184.00 to $188.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their target price on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and an average target price 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.