Y Intercept Hong Kong Ltd Sells 3,261 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Y Intercept Hong Kong Ltd lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 64.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,829 shares of the transportation company’s stock after selling 3,261 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Landstar System were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of LSTR. OneDigital Investment Advisors LLC grew its holdings in shares of Landstar System by 1.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company’s stock valued at $883,000 after purchasing an additional 68 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after buying an additional 70 shares during the last quarter. Equitable Trust Co. increased its holdings in shares of Landstar System by 2.2% in the third quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock worth $614,000 after buying an additional 71 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Landstar System by 2.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 2,974 shares of the transportation company’s stock worth $549,000 after buying an additional 74 shares during the period. Finally, Caprock Group LLC lifted its stake in shares of Landstar System by 2.3% in the 3rd quarter. Caprock Group LLC now owns 3,378 shares of the transportation company’s stock valued at $638,000 after acquiring an additional 77 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Down 2.3 %

LSTR stock opened at $179.41 on Wednesday. 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 market capitalization of $6.34 billion, a price-to-earnings ratio of 31.35 and a beta of 0.82. The business’s 50 day moving average price is $184.62 and its two-hundred day moving average price is $184.05. 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 (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 earnings per share. As a group, analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend is Tuesday, January 7th. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Analysts Set New Price Targets

Several research firms recently issued reports on LSTR. UBS Group lifted their price target on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. TD Cowen cut their target price on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Evercore ISI lowered their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Wednesday, October 30th. Stephens cut their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $174.25.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.

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.