Covestor Ltd Sells 94 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Covestor Ltd lowered its stake in Landstar System, Inc. (NASDAQ:LSTR) by 15.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 512 shares of the transportation company’s stock after selling 94 shares during the quarter. Covestor Ltd’s holdings in Landstar System were worth $96,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its stake in shares of Landstar System by 6.2% in the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after acquiring an additional 99,461 shares during the last quarter. Janus Henderson Group PLC grew its position in Landstar System by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock valued at $34,880,000 after purchasing an additional 42,740 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock valued at $109,743,000 after purchasing an additional 37,020 shares in the last quarter. Vanguard Group Inc. raised its holdings in Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after buying an additional 25,387 shares during the last quarter. Finally, Edgestream Partners L.P. lifted its stake in shares of Landstar System by 445.7% in the first quarter. Edgestream Partners L.P. now owns 30,425 shares of the transportation company’s stock worth $5,865,000 after buying an additional 24,850 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction that occurred 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 transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on LSTR shares. The Goldman Sachs Group decreased their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. Evercore ISI lowered their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. Susquehanna reduced their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stifel Nicolaus lowered their target price on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. One analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus target price of $174.25.

Landstar System Stock Down 1.3 %

LSTR opened at $190.30 on Wednesday. The firm’s 50 day simple moving average is $183.51 and its two-hundred day simple moving average is $183.17. The company has a market capitalization of $6.72 billion, a PE ratio of 32.64 and a beta of 0.81. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last announced 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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $1.71 earnings per share. Landstar System’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities analysts forecast that Landstar System, Inc. will post 5.61 EPS for the current year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.76%. 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.