Van ECK Associates Corp Purchases 7,188 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Van ECK Associates Corp raised its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 40.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 25,156 shares of the transportation company's stock after purchasing an additional 7,188 shares during the period. Van ECK Associates Corp owned 0.07% of Landstar System worth $4,529,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Confluence Wealth Services Inc. lifted its holdings in shares of Landstar System by 10.0% in the third quarter. Confluence Wealth Services Inc. now owns 5,639 shares of the transportation company's stock worth $1,065,000 after buying an additional 513 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Landstar System by 111.1% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 8,751 shares of the transportation company's stock valued at $1,653,000 after purchasing an additional 4,606 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Landstar System by 320.5% in the third quarter. Farther Finance Advisors LLC now owns 1,459 shares of the transportation company's stock worth $276,000 after buying an additional 1,112 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Landstar System by 1.3% during the third quarter. Nisa Investment Advisors LLC now owns 13,927 shares of the transportation company's stock valued at $2,630,000 after buying an additional 180 shares during the period. Finally, State of Alaska Department of Revenue grew its position in Landstar System by 4.7% during the third quarter. State of Alaska Department of Revenue now owns 6,160 shares of the transportation company's stock worth $1,162,000 after buying an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Trading Up 1.4 %

NASDAQ:LSTR traded up $2.59 during trading hours on Friday, hitting $191.15. The company had a trading volume of 221,625 shares, compared to its average volume of 238,984. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. Landstar System, Inc. has a 52 week low of $165.39 and a 52 week high of $201.40. The company has a market capitalization of $6.75 billion, a PE ratio of 32.79 and a beta of 0.81. The stock has a 50-day moving average price of $183.30 and a 200 day moving average price of $182.90.

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 return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company earned $1.71 earnings per share. Landstar System's quarterly revenue was down 5.8% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 5.61 EPS for the current fiscal year.

Landstar System Announces Dividend

The company 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. This represents a $1.44 annualized dividend and a yield of 0.75%. The ex-dividend date is Tuesday, November 19th. Landstar System's dividend payout ratio is currently 24.70%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction 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 $2,595,778.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LSTR. JPMorgan Chase & Co. upped their target price 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. Raymond James dropped their target price on Landstar System from $205.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, July 31st. Evercore ISI reduced their price target 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. Stifel Nicolaus cut their price objective on shares of Landstar System from $164.00 to $160.00 and set a "hold" rating for the company in a research note on Thursday, August 1st. Finally, Benchmark reiterated a "hold" rating on shares of Landstar System in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $174.25.

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.