Verition Fund Management LLC Raises Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Verition Fund Management LLC lifted its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 28.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 59,005 shares of the transportation company's stock after acquiring an additional 12,931 shares during the period. Verition Fund Management LLC owned 0.17% of Landstar System worth $11,144,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Massmutual Trust Co. FSB ADV increased its holdings in shares of Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company's stock valued at $26,000 after purchasing an additional 74 shares during the period. Quest Partners LLC acquired a new position in Landstar System in the 2nd quarter worth approximately $73,000. Mather Group LLC. raised its position in Landstar System by 183.5% during the 2nd 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 last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in Landstar System by 431.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock valued at $83,000 after acquiring an additional 358 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company's stock valued at $92,000 after acquiring an additional 183 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LSTR. JPMorgan Chase & Co. upped their target price on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective 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. Evercore ISI cut their target price on shares of Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a report on Wednesday, October 30th. Susquehanna lowered their price target on shares of Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a report on Friday, November 1st. Finally, Stephens cut their price objective on shares of Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. According to MarketBeat.com, Landstar System currently has an average rating of "Hold" and a consensus target price of $174.25.

Landstar System Trading Down 0.2 %

NASDAQ LSTR traded down $0.38 on Friday, reaching $185.92. 80,323 shares of the company were exchanged, compared to its average volume of 182,010. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The stock has a market capitalization of $6.57 billion, a P/E ratio of 31.89 and a beta of 0.81. The business's fifty day moving average price is $184.24 and its 200 day moving average price is $183.63. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm 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 business's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.71 earnings per share. Analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. Landstar System's payout ratio is currently 24.70%.

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.