Y Intercept Hong Kong Ltd Trims Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Y Intercept Hong Kong Ltd decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 64.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,829 shares of the transportation company's stock after selling 3,261 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Landstar System were worth $345,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LSTR. SG Americas Securities LLC acquired a new stake in Landstar System during the second quarter worth $297,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Landstar System by 2.6% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company's stock worth $549,000 after buying an additional 74 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Landstar System by 30.9% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 2,629 shares of the transportation company's stock worth $485,000 after buying an additional 621 shares during the period. Raymond James & Associates boosted its position in shares of Landstar System by 0.9% during the second quarter. Raymond James & Associates now owns 146,419 shares of the transportation company's stock worth $27,011,000 after buying an additional 1,255 shares during the period. Finally, Fifth Third Bancorp boosted its position in shares of Landstar System by 166.7% during the second quarter. Fifth Third Bancorp now owns 1,171 shares of the transportation company's stock worth $216,000 after buying an additional 732 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Raymond James lowered Landstar System from an "outperform" rating to a "market perform" rating in a research report on Friday, November 15th. Evercore ISI lowered their price target on Landstar System from $165.00 to $160.00 and set an "in-line" rating for the company in a research report on Wednesday, October 30th. Stephens lowered their price target on Landstar System from $190.00 to $180.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 30th. UBS Group lifted their target price on Landstar System from $184.00 to $186.00 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on Landstar System from $165.00 to $158.00 and set a "sell" rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $174.25.

Landstar System Stock Down 2.6 %

Shares of NASDAQ:LSTR traded down $4.62 on Wednesday, hitting $174.79. 283,144 shares of the company's stock were exchanged, compared to its average volume of 256,728. The firm's 50-day moving average is $184.48 and its 200 day moving average is $184.03. The company has a market capitalization of $6.18 billion, a PE ratio of 29.98 and a beta of 0.82. Landstar System, Inc. has a 1-year low of $165.39 and a 1-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 released its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (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 return on equity of 20.68% and a net margin of 4.32%. The company's revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 earnings per share. Sell-side analysts predict that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be given a dividend of $2.00 per share. This is a boost from Landstar System's previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. 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 the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,083 shares of the company's stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company's stock.

Landstar System 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.