Landstar System, Inc. (NASDAQ:LSTR) Stake Decreased by Martingale Asset Management L P

Martingale Asset Management L P reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 64.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 2,853 shares of the transportation company's stock after selling 5,218 shares during the period. Martingale Asset Management L P's holdings in Landstar System were worth $539,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Victory Capital Management Inc. grew its stake in Landstar System by 6.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company's stock worth $313,080,000 after buying an additional 99,461 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company's stock valued at $109,743,000 after purchasing an additional 37,020 shares during the last quarter. Copeland Capital Management LLC grew its stake in Landstar System by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company's stock valued at $73,308,000 after purchasing an additional 3,630 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Landstar System by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company's stock valued at $68,494,000 after purchasing an additional 948 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in 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 valued at $63,243,000 after purchasing an additional 326,212 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Performance

NASDAQ LSTR traded up $3.08 on Wednesday, hitting $187.31. 246,077 shares of the company's stock were exchanged, compared to its average volume of 253,253. The firm has a market cap of $6.62 billion, a price-to-earnings ratio of 31.60 and a beta of 0.82. 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 firm's 50-day moving average price is $184.31 and its two-hundred day moving average price is $183.64. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly 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 return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned $1.71 EPS. The business's revenue was down 5.8% on a year-over-year basis. On average, research analysts expect that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

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

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the firm's stock in a transaction dated 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 sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.75% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LSTR shares. TD Cowen decreased their price objective on Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. Susquehanna decreased their price objective on Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, November 1st. Evercore ISI decreased their price objective 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 decreased their price objective on Landstar System from $165.00 to $158.00 and set a "sell" rating for the company in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Landstar System from $184.00 to $188.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to data from MarketBeat.com, Landstar System currently has a consensus rating of "Hold" and an average target price 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.