Janus Henderson Group PLC Purchases 45,147 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Janus Henderson Group PLC increased its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 24.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,924 shares of the transportation company's stock after acquiring an additional 45,147 shares during the period. Janus Henderson Group PLC owned approximately 0.66% of Landstar System worth $43,992,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Verition Fund Management LLC lifted its stake in Landstar System by 28.1% during the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company's stock valued at $11,144,000 after purchasing an additional 12,931 shares during the last quarter. ING Groep NV acquired a new stake in Landstar System during the third quarter valued at approximately $1,228,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in Landstar System by 419.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company's stock valued at $695,000 after purchasing an additional 2,973 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Landstar System by 3,775.2% during the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company's stock valued at $63,243,000 after purchasing an additional 326,212 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Landstar System during the third quarter valued at approximately $1,190,000. 97.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on LSTR shares. Stephens cut 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. TD Cowen reduced their price target on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a research report on Wednesday, October 9th. UBS Group increased 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. Finally, Susquehanna lowered their price target on Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $174.25.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of Landstar System 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 transaction, 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 position. 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 company insiders.

Landstar System Stock Down 1.7 %

Shares of NASDAQ:LSTR traded down $3.22 during trading on Friday, reaching $181.29. 357,580 shares of the company traded hands, compared to its average volume of 255,346. The firm has a fifty day simple moving average of $184.39 and a 200 day simple moving average of $183.67. The firm has a market cap of $6.40 billion, a P/E ratio of 31.10 and a beta of 0.82. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its 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). The company had revenue of $1.21 billion for 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 quarterly revenue was down 5.8% on a year-over-year basis. During the same period last year, the business earned $1.71 EPS. Analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal 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 0.79%. The ex-dividend date is Tuesday, November 19th. Landstar System's payout ratio is presently 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.