Geode Capital Management LLC Increases Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Geode Capital Management LLC increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.1% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 813,546 shares of the transportation company’s stock after purchasing an additional 39,223 shares during the period. Geode Capital Management LLC’s holdings in Landstar System were worth $153,685,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. increased its position in shares of Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after buying an additional 99,461 shares during the period. State Street Corp increased its holdings in Landstar System by 1.4% during the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock worth $211,130,000 after acquiring an additional 15,328 shares during the period. Dimensional Fund Advisors LP increased its holdings 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 worth $109,743,000 after acquiring an additional 37,020 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in Landstar System by 10.8% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after purchasing an additional 41,758 shares in the last quarter. Finally, Copeland Capital Management LLC boosted its holdings in Landstar System by 0.9% in the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock valued at $73,308,000 after purchasing an additional 3,630 shares during the period. Institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Evercore ISI cut their price objective on 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 lowered their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Finally, Susquehanna cut their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. Based on data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $174.25.

Landstar System Stock Down 0.9 %

Shares of NASDAQ:LSTR opened at $183.61 on Tuesday. The stock has a market capitalization of $6.49 billion, a P/E ratio of 31.49 and a beta of 0.82. The stock’s 50-day moving average price is $184.61 and its 200-day moving average price is $184.01. 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, Inc. has a 12-month low of $165.39 and a 12-month high of $201.40.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the business earned $1.71 earnings per share. Landstar System’s revenue was down 5.8% compared to the same quarter last year. On average, equities analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. This is a positive change 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 currently 24.70%.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

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.