Charles Schwab Investment Management Inc. Raises Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Charles Schwab Investment Management Inc. raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 362,652 shares of the transportation company’s stock after purchasing an additional 948 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of Landstar System worth $68,494,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Integrated Investment Consultants LLC purchased a new stake in shares of Landstar System in the third quarter worth about $318,000. Portfolio Design Labs LLC purchased a new position in Landstar System during the third quarter valued at $1,381,000. Commerce Bank grew its position in shares of Landstar System by 0.5% in the third quarter. Commerce Bank now owns 20,750 shares of the transportation company’s stock valued at $3,919,000 after purchasing an additional 95 shares during the period. Segall Bryant & Hamill LLC increased its stake in shares of Landstar System by 12.2% during the third quarter. Segall Bryant & Hamill LLC now owns 37,419 shares of the transportation company’s stock worth $7,067,000 after purchasing an additional 4,079 shares in the last quarter. Finally, Caprock Group LLC raised its position in shares of Landstar System by 2.3% during the 3rd quarter. Caprock Group LLC now owns 3,378 shares of the transportation company’s stock worth $638,000 after purchasing an additional 77 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Down 0.8 %

Shares of NASDAQ:LSTR opened at $186.30 on Friday. The business has a 50-day moving average price of $184.11 and a 200 day moving average price of $183.62. Landstar System, Inc. has a 12-month low of $165.39 and a 12-month 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. The company has a market capitalization of $6.58 billion, a price-to-earnings ratio of 31.96 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $1.21 billion during 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%. Landstar System’s revenue was down 5.8% on a year-over-year basis. During the same period last year, the firm posted $1.71 earnings per share. Sell-side analysts expect that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.77%. Landstar System’s payout ratio is presently 24.70%.

Analyst Upgrades and Downgrades

LSTR has been the subject of several recent research reports. Susquehanna reduced their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company 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 research report on Friday, November 15th. Stifel Nicolaus cut their price objective on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. The Goldman Sachs Group lowered their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. increased their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.25.

Insider Activity at Landstar System

In other Landstar System 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 value of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.75% of the company’s stock.

Landstar System Company 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.