Landstar System, Inc. (NASDAQ:LSTR) Holdings Raised by Bank of Montreal Can

Bank of Montreal Can boosted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 191.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,654 shares of the transportation company’s stock after buying an additional 16,850 shares during the period. Bank of Montreal Can’s holdings in Landstar System were worth $4,796,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. lifted its holdings in shares of Landstar System by 6.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after buying an additional 99,461 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of 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 last quarter. Copeland Capital Management LLC raised its holdings 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 valued at $73,308,000 after purchasing an additional 3,630 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 purchasing an additional 948 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in 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 worth $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated 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 represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. TD Cowen reduced their price objective 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. Stephens lowered their target price 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. Finally, Susquehanna cut their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Landstar System Stock Down 1.6 %

LSTR opened at $184.23 on Wednesday. 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’s fifty day moving average price is $184.31 and its two-hundred day moving average price is $183.64. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The company has a market capitalization of $6.51 billion, a P/E ratio of 31.60 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data 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). 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 firm posted $1.71 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

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