Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 10.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 197,890 shares of the transportation company’s stock after selling 24,148 shares during the quarter. Eagle Asset Management Inc. owned 0.56% of Landstar System worth $37,827,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its position in Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. Quest Partners LLC purchased a new position in Landstar System in the second quarter worth $73,000. Mather Group LLC. raised its position in Landstar System by 183.5% in the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after acquiring an additional 255 shares in the last quarter. 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 valued at $83,000 after buying an additional 358 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after buying an additional 183 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Evercore ISI dropped their price target on 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. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. UBS Group lifted their price objective on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $174.25.

Landstar System Stock Up 0.8 %

Shares of NASDAQ:LSTR opened at $180.83 on Friday. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 31.02 and a beta of 0.81. 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 stock’s 50-day moving average price is $183.93 and its two-hundred day moving average price is $183.51.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data 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 analyst estimates of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.71 earnings per share. On average, research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

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. This represents a $1.44 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio is currently 24.70%.

Insider Activity

In related news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.00% 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.