JPMorgan Chase & Co. Decreases Position in Landstar System, Inc. (NASDAQ:LSTR)

JPMorgan Chase & Co. lowered its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 12.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 623,433 shares of the transportation company's stock after selling 90,688 shares during the quarter. JPMorgan Chase & Co. owned about 1.76% of Landstar System worth $117,748,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Verition Fund Management LLC grew its position in shares of Landstar System by 28.1% during the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company's stock worth $11,144,000 after purchasing an additional 12,931 shares in the last quarter. ING Groep NV purchased a new position in shares of Landstar System in the third quarter valued at $1,228,000. Point72 Asia Singapore Pte. Ltd. increased its position in Landstar System by 419.3% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company's stock worth $695,000 after purchasing an additional 2,973 shares during the last quarter. Thrivent Financial for Lutherans lifted its position 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, FMR LLC grew its stake in shares of Landstar System by 8.6% in the 3rd 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. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of Landstar System 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 transaction, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

Landstar System Trading Down 0.9 %

NASDAQ LSTR traded down $1.55 during trading hours on Thursday, reaching $170.31. The company had a trading volume of 153,787 shares, compared to its average volume of 258,431. 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 $6.02 billion, a P/E ratio of 29.21 and a beta of 0.82. The stock has a 50-day moving average of $181.70 and a 200 day moving average of $183.36. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $200.43.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 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 return on equity of 20.68% and a net margin of 4.32%. The business's revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.71 earnings per share. As a group, research analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. This is a boost from Landstar System's previous special dividend of $1.50. The ex-dividend date is Tuesday, January 7th. Landstar System's dividend payout ratio (DPR) is 24.70%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LSTR. UBS Group increased their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Evercore ISI dropped their target price on Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group cut their target price on Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Stephens cut their price objective 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 research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $174.25.

Landstar System 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.