Wedge Capital Management L L P NC Cuts Stake in Landstar System, Inc. (NASDAQ:LSTR)

Wedge Capital Management L L P NC lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 15.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 15,132 shares of the transportation company's stock after selling 2,673 shares during the quarter. Wedge Capital Management L L P NC's holdings in Landstar System were worth $2,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of LSTR. OneDigital Investment Advisors LLC boosted its holdings in shares of Landstar System by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company's stock valued at $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% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company's stock worth $107,000 after buying an additional 70 shares during the period. Equitable Trust Co. grew its position in shares of Landstar System by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company's stock worth $614,000 after buying an additional 71 shares in the last quarter. Caprock Group LLC increased its stake in shares of Landstar System by 2.3% during the third quarter. Caprock Group LLC now owns 3,378 shares of the transportation company's stock valued at $638,000 after buying an additional 77 shares during the period. Finally, Brown Brothers Harriman & Co. raised its holdings in shares of Landstar System by 2.3% in the third quarter. Brown Brothers Harriman & Co. now owns 3,608 shares of the transportation company's stock valued at $681,000 after acquiring an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of NASDAQ LSTR traded down $3.59 during mid-day trading on Monday, hitting $174.23. The stock had a trading volume of 1,202,207 shares, compared to its average volume of 242,076. The company has a 50 day moving average of $179.32 and a two-hundred day moving average of $182.46. Landstar System, Inc. has a twelve month low of $164.04 and a twelve month high of $200.43. 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 cap of $6.16 billion, a PE ratio of 29.89 and a beta of 0.83.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results 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 analyst estimates 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% compared to the same quarter last year. During the same period last year, the firm earned $1.71 EPS. Research analysts predict that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, January 7th. This is a positive change from Landstar System's previous special dividend of $1.50. Landstar System's dividend payout ratio (DPR) is presently 24.70%.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of research reports. Raymond James downgraded shares of Landstar System from an "outperform" rating to a "market perform" rating in a research report on Friday, November 15th. 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 report on Friday, November 1st. TD Cowen lowered their target price on Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on Landstar System from $165.00 to $158.00 and set a "sell" rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price objective on Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $171.45.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.75% 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.