State Street Corp Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

State Street Corp increased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,117,857 shares of the transportation company's stock after purchasing an additional 15,328 shares during the period. State Street Corp owned 3.16% of Landstar System worth $211,130,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Stifel Financial Corp increased its holdings in shares of Landstar System by 0.8% in the 3rd quarter. Stifel Financial Corp now owns 85,120 shares of the transportation company's stock valued at $16,077,000 after acquiring an additional 696 shares during the period. Quantinno Capital Management LP boosted its position in Landstar System by 18.8% during the third quarter. Quantinno Capital Management LP now owns 54,892 shares of the transportation company's stock valued at $10,368,000 after purchasing an additional 8,672 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Landstar System by 625.9% in the third quarter. Point72 Asset Management L.P. now owns 33,600 shares of the transportation company's stock valued at $6,346,000 after purchasing an additional 28,971 shares during the last quarter. IHT Wealth Management LLC raised its holdings in Landstar System by 97.3% in the third quarter. IHT Wealth Management LLC now owns 2,358 shares of the transportation company's stock worth $442,000 after purchasing an additional 1,163 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in Landstar System by 10.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company's stock worth $81,201,000 after purchasing an additional 41,758 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Landstar System 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 sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on LSTR. Evercore ISI cut their price objective on shares of Landstar System from $165.00 to $160.00 and set an "in-line" rating on the stock in a research report on Wednesday, October 30th. Stephens cut their price target on shares of Landstar System from $190.00 to $180.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 30th. Susquehanna decreased their price objective on Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a report on Friday, November 1st. UBS Group raised their price objective on Landstar System from $184.00 to $186.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Raymond James lowered Landstar System from an "outperform" rating to a "market perform" rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. According to data from MarketBeat.com, Landstar System presently has an average rating of "Hold" and an average price target of $174.25.

Landstar System Stock Performance

Shares of Landstar System stock traded down $1.92 on Friday, reaching $185.27. 276,619 shares of the stock were exchanged, compared to its average volume of 255,756. The business has a 50 day moving average price of $184.44 and a two-hundred day moving average price of $183.87. The firm 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 twelve month low of $165.39 and a twelve 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 announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business's revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. Analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $2.00 dividend. 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 is presently 24.70%.

Landstar System Company 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.