Eagle Asset Management Inc. Reduces Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Eagle Asset Management Inc. cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 10.9% during the 3rd quarter, Holdings Channel.com reports. The firm owned 197,890 shares of the transportation company’s stock after selling 24,148 shares during the quarter. Eagle Asset Management Inc.’s holdings in Landstar System were worth $37,827,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its holdings in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after purchasing an additional 74 shares during the last quarter. Quest Partners LLC purchased a new stake in Landstar System during the 2nd quarter worth approximately $73,000. Mather Group LLC. increased its holdings in Landstar System by 183.5% during the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after purchasing an additional 255 shares during the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Landstar System by 431.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Landstar System by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after purchasing an additional 183 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $180.83 on Friday. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The firm’s 50-day simple moving average is $183.93 and its 200 day simple moving average is $183.51. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The stock has a market cap of $6.39 billion, a P/E ratio of 31.02 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. 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 prior year, the firm earned $1.71 earnings per share. Landstar System’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities analysts expect that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.80%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value 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. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LSTR shares. Stifel Nicolaus reduced their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. Stephens decreased their price objective on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Susquehanna decreased their price objective on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Finally, UBS Group lifted their price objective on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $174.25.

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.