Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Versant Capital Management Inc

Versant Capital Management Inc reduced its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206 shares of the transportation company’s stock after selling 91 shares during the period. Versant Capital Management Inc’s holdings in Landstar System were worth $35,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Franklin Resources Inc. lifted its stake in shares of Landstar System by 28.1% during the third quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company’s stock valued at $11,000,000 after buying an additional 12,756 shares during the period. Tidal Investments LLC grew its stake in Landstar System by 9.3% in the 3rd quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company’s stock worth $1,899,000 after acquiring an additional 857 shares during the period. World Investment Advisors LLC acquired a new position in Landstar System in the 3rd quarter valued at $4,036,000. Sanctuary Advisors LLC lifted its stake in shares of Landstar System by 24.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,655 shares of the transportation company’s stock worth $1,203,000 after purchasing an additional 1,319 shares during the period. Finally, TD Private Client Wealth LLC boosted its holdings in shares of Landstar System by 27.9% during the third quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock worth $137,000 after purchasing an additional 158 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 sale, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on LSTR shares. Stephens dropped their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. UBS Group upped their price objective on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased 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 report on Wednesday, October 9th. TD Cowen dropped their price target on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Finally, Evercore ISI decreased their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Landstar System Stock Down 1.8 %

Shares of Landstar System stock opened at $169.86 on Tuesday. The company has a fifty day moving average price of $181.34 and a 200 day moving average price of $183.26. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a twelve month low of $165.39 and a twelve month high of $200.43. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 29.14 and a beta of 0.83.

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

Landstar System Increases Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be given a dividend of $2.00 per share. This is a boost from Landstar System’s previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. Landstar System’s payout ratio is presently 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.