Y Intercept Hong Kong Ltd Sells 3,261 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Y Intercept Hong Kong Ltd reduced its position in Landstar System, Inc. (NASDAQ:LSTR) by 64.1% in the third quarter, Holdings Channel.com reports. The fund owned 1,829 shares of the transportation company’s stock after selling 3,261 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Landstar System were worth $345,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC raised its stake in shares of Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after purchasing an additional 12,931 shares during the last quarter. ING Groep NV bought a new stake in Landstar System in the 3rd quarter worth about $1,228,000. Point72 Asia Singapore Pte. Ltd. raised its position in 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 worth $695,000 after buying an additional 2,973 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Landstar System by 3,775.2% during the 3rd 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 during the period. Finally, FMR LLC boosted its holdings in shares of Landstar System by 8.6% during the 3rd quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock valued at $30,639,000 after acquiring an additional 12,894 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Performance

LSTR opened at $179.41 on Wednesday. The company has a 50 day simple moving average of $184.62 and a two-hundred day simple moving average of $184.05. 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 firm has a market cap of $6.34 billion, a P/E ratio of 31.35 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.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 EPS. Equities analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This is a boost from Landstar System’s previous special dividend of $1.50. Landstar System’s payout ratio is currently 24.70%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on LSTR shares. Evercore ISI cut their target price 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. UBS Group lifted their price objective on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stephens lowered their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. TD Cowen cut their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock 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. According to data from MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus target price of $174.25.

Insiders Place Their Bets

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 shares were 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 position. The sale 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 corporate insiders.

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.