Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Algert Global LLC

Algert Global LLC decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 55.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 17,639 shares of the transportation company’s stock after selling 22,290 shares during the period. Algert Global LLC’s holdings in Landstar System were worth $3,331,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its holdings in Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after purchasing an additional 99,461 shares in the last quarter. Boston Partners lifted its stake in Landstar System by 1.0% in the 1st quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock valued at $305,671,000 after buying an additional 15,424 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Landstar System by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after buying an additional 37,020 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in Landstar System by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock worth $73,308,000 after buying an additional 3,630 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Landstar System by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock worth $68,494,000 after buying an additional 948 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Trading Up 2.4 %

Shares of Landstar System stock opened at $185.16 on Tuesday. The firm has a market capitalization of $6.54 billion, a price-to-earnings ratio of 31.57 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The stock has a 50 day moving average of $183.90 and a 200 day moving average of $183.54.

Landstar System (NASDAQ:LSTR) last posted its quarterly 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 revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.71 EPS. As a group, research analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the sale, the chief financial officer now 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 Securities & Exchange Commission, which is available at this link. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LSTR shares. TD Cowen lowered their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. JPMorgan Chase & Co. lifted their target price on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Stephens reduced their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, Susquehanna cut their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price 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.