nVerses Capital LLC Takes Position in Landstar System, Inc. (NASDAQ:LSTR)

nVerses Capital LLC bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,000 shares of the transportation company’s stock, valued at approximately $378,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Roberts Wealth Advisors LLC raised its holdings in Landstar System by 3.8% in the 3rd quarter. Roberts Wealth Advisors LLC now owns 4,556 shares of the transportation company’s stock worth $848,000 after purchasing an additional 167 shares in the last quarter. Wesbanco Bank Inc. increased its position in shares of Landstar System by 9.5% during the third quarter. Wesbanco Bank Inc. now owns 2,888 shares of the transportation company’s stock valued at $545,000 after buying an additional 250 shares during the period. Wedge Capital Management L L P NC raised its stake in Landstar System by 0.6% in the third quarter. Wedge Capital Management L L P NC now owns 17,805 shares of the transportation company’s stock worth $3,363,000 after buying an additional 99 shares in the last quarter. Callan Family Office LLC purchased a new stake in Landstar System in the third quarter worth about $213,000. Finally, GAMMA Investing LLC boosted its position in Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Trading Down 2.5 %

Landstar System stock opened at $187.03 on Friday. Landstar System, Inc. has a one year low of $161.13 and a one year high of $201.40. The business’s fifty day moving average is $184.40 and its 200 day moving average is $182.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.17 and a quick ratio of 2.17. The stock has a market capitalization of $6.69 billion, a PE ratio of 28.77 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business posted $1.85 earnings per share. The business’s revenue for the quarter was down 10.8% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 5.85 EPS for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were issued a $0.36 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. This is a positive change from Landstar System’s previous quarterly dividend of $0.33. Landstar System’s payout ratio is presently 22.15%.

Analyst Ratings Changes

Several brokerages have recently issued reports on LSTR. Evercore ISI decreased their target price on Landstar System from $167.00 to $165.00 and set an “in-line” rating for the company in a research report on Thursday, October 3rd. Susquehanna raised their price objective on Landstar System from $160.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus dropped their target price on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $182.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Raymond James dropped their price objective on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $177.25.

Landstar System 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.