Landstar System, Inc. (NASDAQ:LSTR) Shares Purchased by National Bank of Canada FI

National Bank of Canada FI increased its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 346.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,179 shares of the transportation company's stock after acquiring an additional 4,796 shares during the period. National Bank of Canada FI's holdings in Landstar System were worth $1,167,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its stake in shares of Landstar System by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company's stock worth $883,000 after acquiring an additional 68 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company's stock worth $107,000 after purchasing an additional 70 shares during the last quarter. Equitable Trust Co. boosted its stake in shares of Landstar System by 2.2% during the third quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company's stock valued at $614,000 after purchasing an additional 71 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Landstar System by 2.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company's stock worth $549,000 after purchasing an additional 74 shares during the last quarter. Finally, Caprock Group LLC increased its stake in Landstar System by 2.3% in the 3rd quarter. Caprock Group LLC now owns 3,378 shares of the transportation company's stock worth $638,000 after buying an additional 77 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on LSTR shares. JPMorgan Chase & Co. upped their target price on shares of 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 reduced their price objective on Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a report on Wednesday, October 9th. TD Cowen decreased their target price on Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Stephens dropped their price target on 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. Finally, UBS Group lifted their price objective on Landstar System from $184.00 to $186.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $174.25.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded down $1.92 during trading on Friday, hitting $185.27. The stock had a trading volume of 276,619 shares, compared to its average volume of 255,756. The stock has a 50-day simple moving average of $184.61 and a two-hundred day simple moving average of $184.01. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 31.78 and a beta of 0.82. Landstar System, Inc. has a 12-month low of $165.39 and a 12-month 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 the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.22 billion. During the same period last year, the business earned $1.71 EPS. The company's revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities research analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business 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 positive change 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%.

Insider Activity at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the company's stock in a transaction dated 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 in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by company insiders.

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.