Holocene Advisors LP Boosts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Holocene Advisors LP grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 31.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 34,988 shares of the transportation company’s stock after buying an additional 8,453 shares during the quarter. Holocene Advisors LP owned 0.10% of Landstar System worth $6,608,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. increased its stake in shares of Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after acquiring an additional 99,461 shares during the period. Dimensional Fund Advisors LP increased its position in Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after purchasing an additional 37,020 shares during the period. Copeland Capital Management LLC raised its stake in shares of Landstar System by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock worth $73,308,000 after buying an additional 3,630 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Landstar System by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock valued at $68,494,000 after buying an additional 948 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of 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 buying an additional 326,212 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LSTR shares. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. UBS Group increased their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Susquehanna decreased 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. The Goldman Sachs Group lowered 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. Finally, Evercore ISI reduced 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. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus target price of $174.25.

Insider Buying and Selling

In other Landstar System 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 sale, the chief financial officer now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.75% of the stock is owned by company insiders.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $184.23 on Wednesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The business’s fifty day moving average price is $184.31 and its two-hundred day moving average price is $183.64. The stock has a market cap of $6.51 billion, a PE ratio of 31.60 and a beta of 0.82. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40.

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

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Tuesday, November 19th. Landstar System’s payout ratio is 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.