Victory Capital Management Inc. Decreases Stake in Landstar System, Inc. (NASDAQ:LSTR)

Victory Capital Management Inc. reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,610,365 shares of the transportation company's stock after selling 86,728 shares during the period. Victory Capital Management Inc. owned 4.56% of Landstar System worth $304,150,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company's stock worth $670,812,000 after purchasing an additional 25,387 shares during the period. Sei Investments Co. increased its stake in shares of Landstar System by 17.9% in the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company's stock valued at $13,926,000 after acquiring an additional 10,978 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Landstar System by 125.4% during the 1st quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company's stock valued at $2,467,000 after acquiring an additional 7,118 shares during the period. Comerica Bank boosted 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 acquiring an additional 4,853 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in Landstar System by 362.6% in the second quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company's stock worth $765,000 after purchasing an additional 3,249 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR stock traded down $2.51 during trading hours on Tuesday, reaching $190.30. The company had a trading volume of 159,644 shares, compared to its average volume of 257,809. The firm has a market cap of $6.72 billion, a PE ratio of 32.81 and a beta of 0.81. The business has a fifty day moving average price of $183.51 and a 200-day moving average price of $183.17. Landstar System, Inc. has a one year low of $165.39 and a one year 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 announced its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The company 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%. Landstar System's quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.71 earnings per share. Sell-side analysts predict that Landstar System, Inc. will post 5.61 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company 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 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 0.76%. Landstar System's dividend payout ratio is currently 24.70%.

Analyst Ratings Changes

LSTR has been the topic of several research reports. TD Cowen dropped their price objective on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating on the stock in a report on Wednesday, October 30th. 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. Raymond James lowered their target price 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. Benchmark restated a "hold" rating on shares of Landstar System in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group cut their price objective on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating on the stock in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $174.25.

Insider Activity

In related news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction on Wednesday, November 6th. The shares were 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 approximately $2,595,778.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company's stock.

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.