Crossmark Global Holdings Inc. Sells 11,710 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Crossmark Global Holdings Inc. lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 63.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,890 shares of the transportation company’s stock after selling 11,710 shares during the period. Crossmark Global Holdings Inc.’s holdings in Landstar System were worth $1,301,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Massmutual Trust Co. FSB ADV grew its holdings in Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after purchasing an additional 74 shares during the period. Quest Partners LLC purchased a new stake in shares of Landstar System in the 2nd quarter worth approximately $73,000. Mather Group LLC. increased its position in Landstar System by 183.5% during the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock valued at $76,000 after buying an additional 255 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after buying an additional 358 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after acquiring an additional 183 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

NASDAQ LSTR opened at $189.80 on Thursday. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 32.56 and a beta of 0.81. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. 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 business’s fifty day moving average price is $183.78 and its 200-day moving average price is $183.31.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates 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 net margin of 4.32% and a return on equity of 20.68%. The firm’s revenue was down 5.8% compared to the same quarter last year. During the same period in the prior year, the company posted $1.71 EPS. On average, equities analysts predict that Landstar System, Inc. will post 5.61 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given 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 yield of 0.76%. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of Landstar System 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 in the company, valued at $2,595,778.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on LSTR. Stephens reduced their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Evercore ISI decreased 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 report on Wednesday, October 30th. The Goldman Sachs Group dropped 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 note on Wednesday, October 9th. Stifel Nicolaus reduced their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Finally, Susquehanna lowered their price objective 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. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $174.25.

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.