Quest Partners LLC Has $1.69 Million Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Quest Partners LLC raised its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2,158.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,922 shares of the transportation company's stock after acquiring an additional 8,527 shares during the period. Quest Partners LLC's holdings in Landstar System were worth $1,685,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of LSTR. ING Groep NV purchased a new position in shares of Landstar System in the 3rd quarter valued at approximately $1,228,000. Vanguard Group Inc. lifted its holdings in Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company's stock valued at $670,812,000 after purchasing an additional 25,387 shares in the last quarter. Tidal Investments LLC lifted its holdings in Landstar System by 125.4% in the 1st quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company's stock valued at $2,467,000 after purchasing an additional 7,118 shares in the last quarter. Comerica Bank lifted its stake in Landstar System by 18.5% during the first quarter. Comerica Bank now owns 31,154 shares of the transportation company's stock worth $6,005,000 after purchasing an additional 4,853 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in shares of Landstar System by 362.6% during the second quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company's stock worth $765,000 after buying an additional 3,249 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Landstar System Price Performance

Shares of NASDAQ LSTR traded down $2.71 during midday trading on Tuesday, reaching $180.41. 132,879 shares of the company traded hands, compared to its average volume of 255,763. The firm has a market cap of $6.37 billion, a PE ratio of 30.95 and a beta of 0.81. The stock's 50-day simple moving average is $184.01 and its 200-day simple moving average is $183.56. 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 quick ratio of 2.21 and a current ratio of 2.21.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $1.71 earnings per share. The business's quarterly revenue was down 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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

Insider Transactions at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

LSTR has been the subject of several research reports. Raymond James downgraded Landstar System from an "outperform" rating to a "market perform" rating in a report on Friday. Benchmark reaffirmed a "hold" rating on shares of Landstar System in a report on Wednesday, July 31st. Susquehanna reduced their price objective on Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a research note on Friday, November 1st. UBS Group increased their price target on Landstar System from $184.00 to $186.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research 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 stock. According to MarketBeat, Landstar System currently has a consensus rating of "Hold" and a consensus price target of $174.25.

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.