Eagle Asset Management Inc. Sells 24,148 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Eagle Asset Management Inc. decreased its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 10.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 197,890 shares of the transportation company's stock after selling 24,148 shares during the period. Eagle Asset Management Inc. owned about 0.56% of Landstar System worth $37,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its position in Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company's stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Quest Partners LLC bought a new position in shares of Landstar System in the 2nd quarter worth approximately $73,000. Mather Group LLC. boosted its position in shares of Landstar System by 183.5% in the second quarter. Mather Group LLC. now owns 394 shares of the transportation company's stock worth $76,000 after purchasing an additional 255 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock worth $83,000 after purchasing an additional 358 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Landstar System by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company's stock valued at $92,000 after purchasing an additional 183 shares during the period. Institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Raymond James downgraded shares of Landstar System from an "outperform" rating to a "market perform" rating in a report on Friday, November 15th. Evercore ISI cut their target price on Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a research report on Wednesday, October 30th. 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. TD Cowen cut their price objective on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Finally, Benchmark reiterated a "hold" rating on shares of Landstar System in a research report on Wednesday, July 31st. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to data from MarketBeat.com, Landstar System presently has an average rating of "Hold" and a consensus price target of $174.25.

Landstar System Trading Up 0.8 %

Shares of NASDAQ:LSTR traded up $1.38 on Friday, hitting $180.83. 274,173 shares of the company's stock were exchanged, compared to its average volume of 209,628. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 31.02 and a beta of 0.81. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The business's 50 day simple moving average is $183.90 and its two-hundred day simple moving average is $183.50.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 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 analysts' expectations 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 period last year, the business posted $1.71 earnings per share. Analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.80%. Landstar System's payout ratio is currently 24.70%.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,000 shares of the business's 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 transaction, the chief financial officer now owns 14,083 shares of the company's stock, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

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.