Hussman Strategic Advisors Inc. raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 20.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,000 shares of the transportation company’s stock after buying an additional 5,000 shares during the period. Landstar System accounts for about 1.1% of Hussman Strategic Advisors Inc.’s investment portfolio, making the stock its 17th biggest position. Hussman Strategic Advisors Inc.’s holdings in Landstar System were worth $3,660,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in LSTR. BlackRock Inc. boosted its position in Landstar System by 18.0% in the second quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock valued at $548,369,000 after buying an additional 764,662 shares in the last quarter. Smith Asset Management Group LP raised its stake in shares of Landstar System by 134.9% in the second quarter. Smith Asset Management Group LP now owns 459,476 shares of the transportation company’s stock worth $50,195,000 after acquiring an additional 263,884 shares during the last quarter. Hennessy Advisors Inc. bought a new position in shares of Landstar System in the third quarter worth about $28,755,000. Victory Capital Management Inc. raised its stake in shares of Landstar System by 9.4% in the second quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock worth $167,005,000 after acquiring an additional 130,937 shares during the last quarter. Finally, Natixis raised its stake in shares of Landstar System by 2,116.9% in the second quarter. Natixis now owns 111,001 shares of the transportation company’s stock worth $12,121,000 after acquiring an additional 105,994 shares during the last quarter. Hedge funds and other institutional investors own 97.30% of the company’s stock.
Shares of LSTR traded up $1.62 on Wednesday, reaching $102.39. 1,780 shares of the company’s stock were exchanged, compared to its average volume of 440,317. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.94 and a quick ratio of 1.82. The company has a market cap of $4.04 billion, a price-to-earnings ratio of 27.34, a price-to-earnings-growth ratio of 1.22 and a beta of 0.87. Landstar System, Inc. has a 12 month low of $94.80 and a 12 month high of $128.70.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Tuesday, November 13th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Friday, November 9th. Landstar System’s dividend payout ratio (DPR) is 17.60%.
A number of equities analysts have weighed in on the stock. KeyCorp dropped their target price on shares of Landstar System from $130.00 to $120.00 and set an “overweight” rating for the company in a research note on Friday, October 26th. Morgan Stanley set a $96.00 target price on shares of Landstar System and gave the stock a “sell” rating in a research note on Monday, October 22nd. Cleveland Research assumed coverage on shares of Landstar System in a research note on Friday, October 19th. They issued a “neutral” rating for the company. Buckingham Research dropped their target price on shares of Landstar System from $127.00 to $121.00 and set a “neutral” rating for the company in a research note on Friday, October 12th. Finally, BidaskClub downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and a consensus target price of $117.58.
In related news, COO Joseph J. Beacom sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total transaction of $358,560.00. Following the completion of the sale, the chief operating officer now directly owns 33,702 shares of the company’s stock, valued at $4,028,063.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.90% of the company’s stock.
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, including third party logistics and less-than-truckload service providers.
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