Crossmark Global Holdings Inc. Sells 11,710 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Crossmark Global Holdings Inc. reduced its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 63.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 6,890 shares of the transportation company's stock after selling 11,710 shares during the period. Crossmark Global Holdings Inc.'s holdings in Landstar System were worth $1,301,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company's stock worth $670,812,000 after purchasing an additional 25,387 shares during the period. Sei Investments Co. increased its holdings in Landstar System by 17.9% during the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company's stock valued at $13,926,000 after acquiring an additional 10,978 shares in the last quarter. Tidal Investments LLC raised its position in Landstar System by 125.4% during the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company's stock worth $2,467,000 after acquiring an additional 7,118 shares during the last quarter. Comerica Bank lifted its stake in Landstar System by 18.5% in the 1st quarter. Comerica Bank now owns 31,154 shares of the transportation company's stock valued at $6,005,000 after buying an additional 4,853 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Landstar System by 362.6% in the second quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company's stock valued at $765,000 after acquiring an additional 3,249 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Stephens lowered their target price 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. Benchmark reissued a "hold" rating on shares of Landstar System in a research report on Wednesday, July 31st. Susquehanna dropped their price objective 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. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on Landstar System from $184.00 to $186.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $174.25.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred 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 directly owns 14,083 shares of the company's stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Landstar System Stock Down 1.3 %

Shares of Landstar System stock traded down $2.39 during trading on Thursday, reaching $187.41. The company had a trading volume of 133,671 shares, compared to its average volume of 257,360. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The firm's fifty day moving average is $183.78 and its 200-day moving average is $183.31. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The company has a market cap of $6.62 billion, a price-to-earnings ratio of 32.06 and a beta of 0.81.

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 analysts' consensus estimates of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business posted $1.71 earnings per share. The company's quarterly revenue was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 5.61 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 annualized dividend and a dividend yield of 0.77%. Landstar System's dividend payout ratio (DPR) is 24.70%.

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.