Point72 Hong Kong Ltd Purchases New Position in Landstar System, Inc. (NASDAQ:LSTR)

Point72 Hong Kong Ltd acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 3,984 shares of the transportation company’s stock, valued at approximately $752,000.

Several other institutional investors have also modified their holdings of LSTR. Cetera Advisors LLC lifted its position in Landstar System by 9.4% in the first quarter. Cetera Advisors LLC now owns 1,811 shares of the transportation company’s stock valued at $349,000 after acquiring an additional 156 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Landstar System by 13.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock valued at $115,000 after purchasing an additional 72 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 183 shares during the period. Massmutual Trust Co. FSB ADV grew its stake 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 buying an additional 74 shares during the last quarter. Finally, Mather Group LLC. increased its position in Landstar System by 183.5% during the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after buying an additional 255 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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 on 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. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. UBS Group raised their price target on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Evercore ISI reduced their price objective on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $174.25.

Landstar System Stock Performance

Shares of LSTR stock opened at $187.20 on Tuesday. 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 has a 50 day simple moving average of $184.34 and a 200-day simple moving average of $183.63. The company has a market cap of $6.61 billion, a price-to-earnings ratio of 32.11 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.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.71 EPS. On average, equities analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio is currently 24.70%.

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.