Landstar System, Inc. (NASDAQ:LSTR) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp grew its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.8% in the third quarter, according to its most recent filing with the SEC. The firm owned 85,120 shares of the transportation company’s stock after acquiring an additional 696 shares during the quarter. Stifel Financial Corp owned about 0.24% of Landstar System worth $16,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Thrivent Financial for Lutherans increased its stake in shares of Landstar System by 3,775.2% during the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after acquiring an additional 326,212 shares during the period. Victory Capital Management Inc. increased its position in shares of Landstar System by 6.2% during 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 purchasing an additional 99,461 shares during the period. BNP Paribas Financial Markets increased its position in shares of Landstar System by 509.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 55,048 shares of the transportation company’s stock valued at $10,397,000 after purchasing an additional 46,014 shares during the period. Janus Henderson Group PLC raised its stake in shares of Landstar System by 24.0% in the 3rd quarter. Janus Henderson Group PLC now owns 232,924 shares of the transportation company’s stock worth $43,992,000 after buying an additional 45,147 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Landstar System by 10.8% in the third quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock valued at $81,201,000 after buying an additional 41,758 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Trading Up 1.4 %

NASDAQ:LSTR opened at $188.09 on Wednesday. The stock has a market cap of $6.65 billion, a PE ratio of 32.26 and a beta of 0.82. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The stock’s 50-day moving average is $184.25 and its two-hundred day moving average is $183.82.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data 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 company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business’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, 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 disclosed a special dividend, which will be paid on Tuesday, January 21st. Investors 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. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group boosted 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. Evercore ISI cut their target price on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note 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 report on Friday, November 1st. The Goldman Sachs Group cut their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average target price of $174.25.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.75% of the company’s stock.

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.