Principal Financial Group Inc. Trims Stake in Landstar System, Inc. (NASDAQ:LSTR)

Principal Financial Group Inc. reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 31.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 82,091 shares of the transportation company’s stock after selling 36,984 shares during the period. Principal Financial Group Inc.’s holdings in Landstar System were worth $15,505,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Landstar System by 5.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,990 shares of the transportation company’s stock worth $1,474,000 after purchasing an additional 438 shares during the period. Van ECK Associates Corp grew its stake in shares of Landstar System by 11.1% during the 2nd quarter. Van ECK Associates Corp now owns 17,968 shares of the transportation company’s stock worth $3,315,000 after purchasing an additional 1,791 shares during the period. Confluence Wealth Services Inc. increased its holdings in shares of Landstar System by 12.0% in the 2nd quarter. Confluence Wealth Services Inc. now owns 5,126 shares of the transportation company’s stock valued at $946,000 after purchasing an additional 551 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Landstar System by 24.4% in the second quarter. Aptus Capital Advisors LLC now owns 21,068 shares of the transportation company’s stock valued at $3,887,000 after buying an additional 4,126 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Landstar System by 19.5% during the second quarter. National Bank of Canada FI now owns 1,383 shares of the transportation company’s stock worth $253,000 after purchasing an additional 226 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Price Performance

Landstar System stock opened at $174.32 on Friday. Landstar System, Inc. has a 52-week low of $165.39 and a 52-week high of $200.43. The firm has a fifty day moving average of $182.45 and a 200-day moving average of $183.63. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.16 billion, a P/E ratio of 29.90 and a beta of 0.82.

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

Landstar System Increases Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $2.00 dividend. The ex-dividend date of this dividend is Tuesday, January 7th. This is an increase from Landstar System’s previous special dividend of $1.50. Landstar System’s dividend payout ratio is currently 24.70%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LSTR. Stephens lowered 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. Susquehanna lowered 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 note on Friday, November 1st. JPMorgan Chase & Co. upped their target price 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 decreased their price target on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Finally, UBS Group upped their price target on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat.com, Landstar System currently has a consensus 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.