Point72 Hong Kong Ltd Makes New Investment in Landstar System, Inc. (NASDAQ:LSTR)

Point72 Hong Kong Ltd bought a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,984 shares of the transportation company's stock, valued at approximately $752,000.

A number of other institutional investors also recently modified their holdings of the company. Edgestream Partners L.P. raised its stake in shares of Landstar System by 293.6% in the third quarter. Edgestream Partners L.P. now owns 42,240 shares of the transportation company's stock valued at $7,978,000 after acquiring an additional 31,508 shares during the last quarter. Verition Fund Management LLC raised its stake in shares of Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company's stock valued at $11,144,000 after acquiring an additional 12,931 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of Landstar System by 22.3% in the third quarter. Captrust Financial Advisors now owns 13,893 shares of the transportation company's stock valued at $2,624,000 after acquiring an additional 2,534 shares during the last quarter. FORA Capital LLC raised its stake in shares of Landstar System by 64.2% in the third quarter. FORA Capital LLC now owns 4,219 shares of the transportation company's stock valued at $797,000 after acquiring an additional 1,649 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Landstar System in the third quarter valued at approximately $1,190,000. Institutional investors own 97.95% of the company's stock.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several research analyst reports. Stephens dropped 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 research report on Wednesday, October 30th. Evercore ISI dropped their price objective on shares of 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. UBS Group boosted their price objective on shares of Landstar System from $184.00 to $186.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. TD Cowen dropped their price objective on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their price objective on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating for the company in a research report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $174.25.

Landstar System Trading Down 1.6 %

Shares of LSTR stock traded down $2.97 on Tuesday, hitting $184.23. The stock had a trading volume of 254,918 shares, compared to its average volume of 253,712. Landstar System, Inc. has a twelve month low of $165.39 and a twelve month high of $201.40. The firm has a market cap of $6.51 billion, a P/E ratio of 31.60 and a beta of 0.82. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The company has a fifty day moving average price of $184.31 and a two-hundred day moving average price of $183.64.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly 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 net margin of 4.32% and a return on equity of 20.68%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm earned $1.71 EPS. Landstar System's quarterly revenue was down 5.8% on a year-over-year basis. As a group, analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System's dividend payout ratio (DPR) is 24.70%.

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,000 shares of the company's stock in a transaction 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 directly owns 14,083 shares of the company's stock, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.