Ontario Teachers Pension Plan Board Lowers Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Ontario Teachers Pension Plan Board lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 26.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,737 shares of the transportation company’s stock after selling 3,154 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Landstar System were worth $1,650,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in LSTR. OneDigital Investment Advisors LLC raised its holdings in Landstar System by 1.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company’s stock valued at $883,000 after acquiring an additional 68 shares in the last quarter. GAMMA Investing LLC raised its stake in Landstar System by 14.1% in the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after buying an additional 70 shares in the last quarter. Equitable Trust Co. lifted its holdings in Landstar System by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock worth $614,000 after buying an additional 71 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Landstar System by 13.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock worth $115,000 after acquiring an additional 72 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LSTR. Susquehanna decreased their target price 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. Stifel Nicolaus lowered their target price on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Benchmark reissued a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group reduced their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $174.25.

Landstar System Stock Performance

Shares of LSTR stock opened at $179.38 on Thursday. 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. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 30.77 and a beta of 0.81. The stock has a 50 day simple moving average of $183.98 and a 200-day simple moving average of $183.56.

Landstar System (NASDAQ:LSTR) last issued its earnings results 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). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted $1.71 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. On average, equities analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio is presently 24.70%.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

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.