Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 36.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,300 shares of the transportation company’s stock after selling 743 shares during the quarter. Paloma Partners Management Co’s holdings in Landstar System were worth $246,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of LSTR. Victory Capital Management Inc. raised its holdings in Landstar System by 6.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after buying an additional 99,461 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Landstar System by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock valued at $109,743,000 after acquiring an additional 37,020 shares during the last quarter. Copeland Capital Management LLC raised its stake in shares of Landstar System by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock valued at $73,308,000 after acquiring an additional 3,630 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Landstar System by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock worth $68,494,000 after acquiring an additional 948 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position 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 worth $63,243,000 after purchasing an additional 326,212 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on LSTR shares. TD Cowen decreased 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. UBS Group raised their target price on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. upped 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. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $174.25.

Insider Buying and Selling

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 directly owns 14,083 shares in the company, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Landstar System Trading Down 1.7 %

NASDAQ LSTR opened at $181.29 on Friday. Landstar System, Inc. has a 52 week low of $165.39 and a 52 week high of $201.40. The firm has a 50 day moving average of $184.28 and a two-hundred day moving average of $183.67. 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 stock has a market capitalization of $6.40 billion, a PE ratio of 31.10 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last issued 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). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm posted $1.71 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts expect that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) 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.