Stifel Financial Corp boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 0.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,002 shares of the transportation company’s stock after buying an additional 196 shares during the quarter. Stifel Financial Corp owned approximately 0.14% of Landstar System worth $6,083,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Quest Capital Management Inc. ADV bought a new stake in shares of Landstar System in the 3rd quarter valued at about $39,000. Advisory Services Network LLC raised its position in shares of Landstar System by 80.8% during the second quarter. Advisory Services Network LLC now owns 508 shares of the transportation company’s stock worth $55,000 after acquiring an additional 227 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new position in shares of Landstar System during the second quarter worth about $60,000. Yorktown Management & Research Co Inc acquired a new position in shares of Landstar System in the third quarter worth approximately $203,000. Finally, Park National Corp OH acquired a new position in shares of Landstar System in the third quarter worth approximately $207,000.
Shares of Landstar System stock opened at $109.93 on Friday. Landstar System, Inc. has a one year low of $90.23 and a one year high of $120.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 2.01 and a quick ratio of 2.01. The stock’s 50-day moving average is $113.89 and its 200 day moving average is $109.51. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 17.79, a PEG ratio of 1.58 and a beta of 1.26.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Tuesday, November 12th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date of this dividend is Monday, November 11th. Landstar System’s payout ratio is 11.97%.
LSTR has been the topic of several analyst reports. Buckingham Research reduced their target price on Landstar System from $115.00 to $113.00 and set a “neutral” rating on the stock in a report on Thursday, September 12th. Goldman Sachs Group initiated coverage on shares of Landstar System in a report on Thursday. They set a “sell” rating and a $105.00 price target for the company. Morgan Stanley dropped their price target on shares of Landstar System from $91.00 to $90.00 and set an “underweight” rating on the stock in a research report on Monday, October 7th. Credit Suisse Group set a $103.00 price objective on shares of Landstar System and gave the company a “hold” rating in a research note on Sunday, September 15th. Finally, BidaskClub lowered shares of Landstar System from a “hold” rating to a “sell” rating in a research note on Tuesday. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $111.26.
In related news, Director Diana M. Murphy sold 7,000 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $117.96, for a total transaction of $825,720.00. Following the transaction, the director now owns 31,969 shares in the company, valued at approximately $3,771,063.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Joseph J. Beacom sold 5,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $117.23, for a total transaction of $586,150.00. Following the transaction, the chief operating officer now directly owns 40,924 shares in the company, valued at $4,797,520.52. The disclosure for this sale can be found here. 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 service providers.
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