Royce & Associates LP Increases Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Royce & Associates LP boosted its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 11.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 331,464 shares of the transportation company's stock after acquiring an additional 33,962 shares during the period. Landstar System accounts for approximately 0.6% of Royce & Associates LP's holdings, making the stock its 24th biggest holding. Royce & Associates LP owned 0.94% of Landstar System worth $62,604,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. grew its position in shares of Landstar System by 2.9% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company's stock worth $387,000 after buying an additional 57 shares during the period. OneDigital Investment Advisors LLC grew its holdings in Landstar System by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company's stock worth $883,000 after purchasing an additional 68 shares during the period. GAMMA Investing LLC lifted its holdings 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 valued at $107,000 after purchasing an additional 70 shares during the last quarter. Equitable Trust Co. lifted its holdings 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 last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Landstar System by 13.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company's stock worth $115,000 after purchasing an additional 72 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on LSTR shares. Stephens reduced their price objective 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 target on 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 target on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a research note on Wednesday, October 30th. Susquehanna cut their price objective on shares of Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. Finally, Raymond James cut shares of Landstar System from an "outperform" rating to a "market perform" rating in a report on Friday. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, Landstar System has an average rating of "Hold" and a consensus target price of $174.25.

Landstar System Stock Performance

LSTR traded down $4.59 during mid-day trading on Friday, reaching $182.82. 171,432 shares of the company traded hands, compared to its average volume of 256,973. The company's fifty day moving average price is $183.92 and its 200-day moving average price is $183.34. The stock has a market capitalization of $6.46 billion, a P/E ratio of 31.36 and a beta of 0.81. 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, Inc. has a 52-week low of $165.39 and a 52-week high of $201.40.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The firm's revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company posted $1.71 EPS. On average, sell-side analysts expect that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a yield of 0.79%. Landstar System's dividend payout ratio (DPR) is presently 24.70%.

Insider Activity

In other news, CFO James P. Todd sold 1,000 shares of the business's stock in a transaction dated 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 directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was 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. Insiders own 1.00% of the company's stock.

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.