Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC reduced its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 11,806 shares of the transportation company’s stock after selling 60 shares during the period. HighTower Advisors LLC’s holdings in Landstar System were worth $2,235,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Verition Fund Management LLC grew its holdings in Landstar System by 28.1% during the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after acquiring an additional 12,931 shares during the period. ING Groep NV purchased a new stake in Landstar System in the 3rd quarter worth approximately $1,228,000. Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Landstar System by 419.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock worth $695,000 after purchasing an additional 2,973 shares during the period. Thrivent Financial for Lutherans increased its holdings 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 valued at $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Finally, FMR LLC increased 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 purchasing an additional 12,894 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Landstar System stock opened at $185.27 on Friday. The company has a fifty day simple moving average of $184.44 and a 200-day simple moving average of $183.87. The firm has a market capitalization of $6.55 billion, a price-to-earnings ratio of 31.78 and a beta of 0.82. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 52-week low of $165.39 and a 52-week high of $201.40.

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

Landstar System Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be given a dividend of $2.00 per share. This is an increase from Landstar System’s previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the business’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 of the company’s stock, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several analyst reports. Stephens dropped their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Evercore ISI dropped their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research 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. 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 research report on Wednesday, October 9th. Finally, 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 report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $174.25.

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.