Point72 Asset Management L.P. Grows Position in Landstar System, Inc. (NASDAQ:LSTR)

Point72 Asset Management L.P. raised its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 625.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,600 shares of the transportation company’s stock after purchasing an additional 28,971 shares during the quarter. Point72 Asset Management L.P. owned about 0.10% of Landstar System worth $6,346,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IHT Wealth Management LLC increased its stake in shares of Landstar System by 97.3% in the third quarter. IHT Wealth Management LLC now owns 2,358 shares of the transportation company’s stock worth $442,000 after acquiring an additional 1,163 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in shares of Landstar System by 10.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock valued at $81,201,000 after purchasing an additional 41,758 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Landstar System by 24.0% in the 3rd quarter. Janus Henderson Group PLC now owns 232,924 shares of the transportation company’s stock valued at $43,992,000 after purchasing an additional 45,147 shares during the period. Holocene Advisors LP grew 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 valued at $6,608,000 after buying an additional 8,453 shares during the period. Finally, Ascent Group LLC purchased a new position in Landstar System in the third quarter valued at $1,118,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of several recent analyst reports. Evercore ISI cut their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. Stephens dropped their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. UBS Group boosted their target price on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $174.25.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the sale, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by company insiders.

Landstar System Trading Down 1.7 %

Shares of Landstar System stock opened at $181.29 on Monday. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The stock has a market cap of $6.41 billion, a P/E ratio of 31.10 and a beta of 0.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The stock’s 50 day simple moving average is $184.28 and its 200-day simple moving average is $183.72.

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 analysts’ consensus estimates 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 analyst estimates of $1.22 billion. During the same period last year, the business earned $1.71 earnings per share. The firm’s revenue was down 5.8% compared to the same quarter last year. Analysts predict that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

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.