Fmr LLC Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

FMR LLC raised its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 8.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 162,222 shares of the transportation company's stock after acquiring an additional 12,894 shares during the quarter. FMR LLC owned about 0.46% of Landstar System worth $30,639,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. ING Groep NV bought a new stake in Landstar System during the third quarter valued at $1,228,000. Thrivent Financial for Lutherans boosted its position in shares of Landstar System by 3,775.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company's stock worth $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Landstar System by 191.4% during the 3rd quarter. Bank of Montreal Can now owns 25,654 shares of the transportation company's stock worth $4,796,000 after purchasing an additional 16,850 shares in the last quarter. Quest Partners LLC boosted its position in shares of Landstar System by 2,158.7% during the 3rd quarter. Quest Partners LLC now owns 8,922 shares of the transportation company's stock worth $1,685,000 after purchasing an additional 8,527 shares in the last quarter. Finally, Algert Global LLC boosted its position in shares of Landstar System by 7.5% during the 2nd quarter. Algert Global LLC now owns 39,929 shares of the transportation company's stock worth $7,366,000 after purchasing an additional 2,798 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Insider Activity at Landstar System

In other Landstar System 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 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.75% of the stock is currently owned by corporate insiders.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded up $4.20 during midday trading on Monday, reaching $185.49. The company had a trading volume of 194,368 shares, compared to its average volume of 255,088. Landstar System, Inc. has a 52-week low of $165.39 and a 52-week high of $201.40. The company's 50 day moving average price is $184.21 and its 200 day moving average price is $183.76. 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 cap of $6.55 billion, a P/E ratio of 31.82 and a beta of 0.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The firm's revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.78%. Landstar System's payout ratio is 24.70%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on LSTR shares. UBS Group increased their price objective on shares of Landstar System from $184.00 to $186.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Raymond James cut shares of Landstar System from an "outperform" rating to a "market perform" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. increased their price objective 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. Evercore ISI cut their price objective on shares of Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a research report 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 on the stock in a research report on Wednesday, October 30th. One investment 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, the company currently has an average rating of "Hold" and an average price target of $174.25.

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.