Versor Investments LP Acquires New Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Versor Investments LP purchased a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,900 shares of the transportation company's stock, valued at approximately $548,000.

A number of other hedge funds also recently bought and sold shares of LSTR. Vanguard Group Inc. grew its holdings in shares of Landstar System by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company's stock worth $670,812,000 after acquiring an additional 25,387 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Landstar System by 6.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company's stock worth $313,080,000 after acquiring an additional 99,461 shares during the period. Boston Partners grew its holdings in shares of Landstar System by 1.0% during the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company's stock worth $305,671,000 after acquiring an additional 15,424 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company's stock worth $109,743,000 after purchasing an additional 37,020 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Landstar System by 2.5% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company's stock worth $82,755,000 after purchasing an additional 10,538 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LSTR. TD Cowen dropped their price target on Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a research report on Wednesday, October 30th. Raymond James lowered their price objective on Landstar System from $205.00 to $195.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 31st. Susquehanna lowered their price objective on Landstar System from $165.00 to $160.00 and set a "neutral" rating on the stock in a research report on Friday, November 1st. UBS Group upped their price objective on Landstar System from $184.00 to $186.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered their price objective on Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $174.25.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,000 shares of the stock in a transaction dated 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 owns 14,083 shares of the company's stock, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Landstar System Stock Performance

Shares of NASDAQ LSTR traded down $2.39 during midday trading on Thursday, hitting $187.41. 133,671 shares of the stock traded hands, compared to its average volume of 257,360. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The firm has a market capitalization of $6.62 billion, a P/E ratio of 32.06 and a beta of 0.81. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40. The firm has a 50-day moving average of $183.78 and a two-hundred day moving average of $183.31.

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 the consensus estimate of $1.45 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company's revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.71 earnings per share. On average, equities analysts forecast that Landstar System, Inc. will post 5.61 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be paid a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. Landstar System's payout ratio is presently 24.70%.

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.