Fulton Bank N.A. Increases Stake in Landstar System, Inc. (NASDAQ:LSTR)

Fulton Bank N.A. lifted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 10.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,100 shares of the transportation company’s stock after buying an additional 204 shares during the quarter. Fulton Bank N.A.’s holdings in Landstar System were worth $361,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quest Partners LLC purchased a new stake in Landstar System in the 2nd quarter worth $73,000. Whittier Trust Co. of Nevada Inc. increased its holdings in shares of Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares during the last quarter. Point72 DIFC Ltd purchased a new stake in shares of Landstar System in the second quarter worth about $106,000. GAMMA Investing LLC boosted its stake in Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after buying an additional 70 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Landstar System during the 2nd quarter valued at approximately $131,000. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several recent research reports. Evercore ISI decreased their price objective on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. Susquehanna decreased their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Stephens dropped their price objective on shares of 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 target price on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $171.45.

Landstar System Stock Down 1.3 %

Shares of NASDAQ:LSTR opened at $165.68 on Friday. The firm has a market capitalization of $5.85 billion, a PE ratio of 28.42 and a beta of 0.83. The business has a 50 day simple moving average of $180.53 and a two-hundred day simple moving average of $182.82. Landstar System, Inc. has a 1 year low of $165.31 and a 1 year high of $200.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21.

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 analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.71 EPS. On average, equities analysts predict that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be given a $2.00 dividend. 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 24.70%.

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.