Point72 Asset Management L.P. Has $6.35 Million Stake in Landstar System, Inc. (NASDAQ:LSTR)

Point72 Asset Management L.P. lifted its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 625.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 33,600 shares of the transportation company's stock after purchasing an additional 28,971 shares during the quarter. Point72 Asset Management L.P. owned about 0.10% of Landstar System worth $6,346,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Quest Partners LLC bought a new position in Landstar System in the second quarter valued at approximately $73,000. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company's stock worth $83,000 after acquiring an additional 358 shares during the period. Point72 DIFC Ltd bought a new stake in Landstar System in the 2nd quarter valued at $106,000. GAMMA Investing LLC boosted its stake in Landstar System by 14.1% in the 3rd 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 period. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Landstar System during the 2nd quarter worth about $131,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR traded up $5.06 during midday trading on Monday, reaching $186.35. The stock had a trading volume of 93,425 shares, compared to its average volume of 254,596. The firm has a market cap of $6.58 billion, a PE ratio of 31.10 and a beta of 0.82. The firm has a 50 day simple moving average of $184.28 and a 200-day simple moving average of $183.72. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40. 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 quarterly 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 business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.71 EPS. As a group, sell-side analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.36 per share. 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 dividend payout ratio (DPR) is 24.70%.

Analyst Ratings Changes

A number of brokerages have recently commented on LSTR. Evercore ISI cut their price target on Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a report on Wednesday, October 30th. TD Cowen dropped their target price on Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Stephens reduced their price target on Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. UBS Group lifted their price objective 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. Finally, The Goldman Sachs Group cut their price objective on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Landstar System presently has an average rating of "Hold" and a consensus target price of $174.25.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company's stock, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.75% of the company's stock.

About Landstar System

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.