Studio Investment Management LLC Acquires 108 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Studio Investment Management LLC raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,263 shares of the transportation company’s stock after buying an additional 108 shares during the quarter. Studio Investment Management LLC’s holdings in Landstar System were worth $427,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans boosted its holdings in Landstar System by 3,775.2% in the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after acquiring an additional 326,212 shares in the last quarter. Victory Capital Management Inc. boosted its stake 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 valued at $313,080,000 after purchasing an additional 99,461 shares in the last quarter. Janus Henderson Group PLC raised its stake in Landstar System by 30.9% in the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after buying an additional 42,740 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Landstar System by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after buying an additional 37,020 shares during the period. Finally, Royce & Associates LP boosted its position in Landstar System by 11.4% during the 3rd quarter. Royce & Associates LP now owns 331,464 shares of the transportation company’s stock valued at $62,604,000 after acquiring an additional 33,962 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. UBS Group increased their target price on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Stephens lowered their price objective 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. The Goldman Sachs Group reduced their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Evercore ISI lowered their price target on shares of 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. Finally, 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. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and an average price target of $174.25.

Insider Transactions at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the firm’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 transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Landstar System Stock Up 0.0 %

Shares of Landstar System stock opened at $179.45 on Friday. The stock has a market capitalization of $6.34 billion, a PE ratio of 30.78 and a beta of 0.81. The company has a 50-day simple moving average of $183.93 and a two-hundred day simple moving average of $183.51. Landstar System, Inc. has a 52-week low of $165.39 and a 52-week 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) last issued its earnings results 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). 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 analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted $1.71 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be issued 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 yield of 0.80%. Landstar System’s dividend payout ratio is currently 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.