FORA Capital LLC Purchases 1,649 Shares of Landstar System, Inc. (NASDAQ:LSTR)

FORA Capital LLC lifted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 64.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,219 shares of the transportation company’s stock after purchasing an additional 1,649 shares during the period. FORA Capital LLC’s holdings in Landstar System were worth $797,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Bayesian Capital Management LP bought a new position in Landstar System in the first quarter worth about $219,000. B. Riley Wealth Advisors Inc. boosted its stake in Landstar System by 72.1% in the first quarter. B. Riley Wealth Advisors Inc. now owns 2,554 shares of the transportation company’s stock valued at $452,000 after acquiring an additional 1,070 shares in the last quarter. Tidal Investments LLC increased its position in shares of Landstar System by 125.4% during the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock worth $2,467,000 after purchasing an additional 7,118 shares in the last quarter. Comerica Bank lifted its holdings in shares of Landstar System by 18.5% during the 1st quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock valued at $6,005,000 after purchasing an additional 4,853 shares during the last quarter. Finally, Cetera Advisors LLC grew its stake in Landstar System by 9.4% during the 1st quarter. Cetera Advisors LLC now owns 1,811 shares of the transportation company’s stock worth $349,000 after buying an additional 156 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

NASDAQ LSTR opened at $186.30 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The company has a market cap of $6.58 billion, a PE ratio of 31.96 and a beta of 0.81. The stock’s 50 day simple moving average is $184.11 and its 200-day simple moving average is $183.62.

Landstar System (NASDAQ:LSTR) last issued 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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates 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 last year, the company earned $1.71 earnings per share. As a group, equities research analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio is currently 24.70%.

Wall Street Analyst Weigh In

LSTR has been the topic of a number of research analyst reports. Susquehanna dropped their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. UBS Group raised their price target on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. TD Cowen lowered their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Stifel Nicolaus cut their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Finally, Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $174.25.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.