BNP Paribas Financial Markets Acquires 46,014 Shares of Landstar System, Inc. (NASDAQ:LSTR)

BNP Paribas Financial Markets lifted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 509.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 55,048 shares of the transportation company’s stock after buying an additional 46,014 shares during the period. BNP Paribas Financial Markets’ holdings in Landstar System were worth $10,397,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of LSTR. Victory Capital Management Inc. raised its holdings 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 valued at $313,080,000 after purchasing an additional 99,461 shares during the last quarter. Dimensional Fund Advisors LP raised its stake 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 valued at $109,743,000 after buying an additional 37,020 shares during the last quarter. Copeland Capital Management LLC lifted its holdings in Landstar System by 0.9% in the third quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock valued at $73,308,000 after acquiring an additional 3,630 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Landstar System by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock worth $68,494,000 after buying an additional 948 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its stake in shares of 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 worth $63,243,000 after acquiring an additional 326,212 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Trading Down 0.2 %

LSTR opened at $185.92 on Monday. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The stock has a 50-day moving average of $184.24 and a 200 day moving average of $183.62. The firm has a market cap of $6.57 billion, a P/E ratio of 31.89 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last released 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 company had revenue of $1.21 billion for 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 business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.71 EPS. As a group, research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be issued a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the stock in a transaction dated 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 directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LSTR. JPMorgan Chase & Co. boosted their price objective on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective 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. Susquehanna lowered their target price 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. TD Cowen cut their target price on shares of 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, Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus 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.