Jacobs Levy Equity Management Inc. Boosts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Jacobs Levy Equity Management Inc. grew its stake in Landstar System, Inc. (NASDAQ:LSTR) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 429,928 shares of the transportation company’s stock after buying an additional 41,758 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Landstar System were worth $81,201,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in Landstar System by 24.0% during the third quarter. Janus Henderson Group PLC now owns 232,924 shares of the transportation company’s stock worth $43,992,000 after purchasing an additional 45,147 shares during the period. Holocene Advisors LP increased its position in Landstar System by 31.9% during the third quarter. Holocene Advisors LP now owns 34,988 shares of the transportation company’s stock worth $6,608,000 after buying an additional 8,453 shares during the period. Ascent Group LLC acquired a new position in Landstar System during the third quarter worth approximately $1,118,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Landstar System by 419.3% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock valued at $695,000 after purchasing an additional 2,973 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Landstar System in the third quarter valued at approximately $752,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the 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 of the company’s stock, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.75% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on LSTR shares. Stephens decreased their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. 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 research report on Wednesday, October 9th. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. 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 report on Friday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One investment 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 stock has an average rating of “Hold” and a consensus price target of $174.25.

Landstar System Stock Up 0.7 %

Shares of LSTR stock opened at $187.20 on Tuesday. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of 32.11 and a beta of 0.82. 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, Inc. has a 52-week low of $165.39 and a 52-week high of $201.40. The firm’s 50-day moving average is $184.34 and its 200-day moving average is $183.63.

Landstar System (NASDAQ:LSTR) last posted its quarterly 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). 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 business’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS. Sell-side analysts predict that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. Landstar System’s dividend payout ratio is currently 24.70%.

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.