State Street Corp Boosts Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

State Street Corp increased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 1.4% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,117,857 shares of the transportation company’s stock after purchasing an additional 15,328 shares during the quarter. State Street Corp owned about 3.16% of Landstar System worth $211,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quest Partners LLC bought a new stake in Landstar System during the second quarter valued at $73,000. Whittier Trust Co. of Nevada Inc. increased its position 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 Landstar System in the second quarter valued at approximately $106,000. GAMMA Investing LLC grew its stake in Landstar System by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after buying an additional 70 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Landstar System in the 2nd quarter worth $131,000. 97.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

LSTR has been the subject of several research reports. 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 report on Wednesday, October 30th. The Goldman Sachs Group cut their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. 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. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Finally, TD Cowen lowered their price target on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average price target of $174.25.

Insider Buying and Selling

In other news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction on 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 transaction, 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 ownership of the stock. 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 0.6 %

LSTR opened at $187.19 on Friday. 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, Inc. has a one year low of $165.39 and a one year high of $201.40. The firm has a market capitalization of $6.61 billion, a price-to-earnings ratio of 32.11 and a beta of 0.82. The business has a 50 day simple moving average of $184.44 and a two-hundred day simple moving average of $183.87.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business posted $1.71 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts predict that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Increases Dividend

The company also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be issued a $2.00 dividend. This is an increase from Landstar System’s previous special dividend of $1.50. The ex-dividend date is Tuesday, January 7th. Landstar System’s dividend payout ratio is 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.