Landstar System, Inc. (NASDAQ:LSTR) Position Increased by Zions Bancorporation N.A.

Zions Bancorporation N.A. grew its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 19.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,411 shares of the transportation company’s stock after purchasing an additional 1,364 shares during the quarter. Zions Bancorporation N.A.’s holdings in Landstar System were worth $1,589,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. raised its stake in shares of Landstar System by 2.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock valued at $387,000 after acquiring an additional 57 shares during the last quarter. Sei Investments Co. boosted its stake in Landstar System by 17.9% in the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock worth $13,926,000 after purchasing an additional 10,978 shares during the period. Bleakley Financial Group LLC boosted its stake in Landstar System by 9.0% in the 1st quarter. Bleakley Financial Group LLC now owns 4,484 shares of the transportation company’s stock worth $864,000 after purchasing an additional 370 shares during the period. State Board of Administration of Florida Retirement System lifted its position in Landstar System by 3.1% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 43,753 shares of the transportation company’s stock worth $7,843,000 after buying an additional 1,318 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after purchasing an additional 25,387 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.00% of the company’s stock.

Landstar System Price Performance

NASDAQ LSTR opened at $187.41 on Friday. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40. The stock has a 50-day moving average of $183.78 and a 200 day moving average of $183.31. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 32.15 and a beta of 0.81.

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). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 EPS. On average, sell-side analysts forecast 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 paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 annualized dividend and a yield of 0.77%. Landstar System’s payout ratio is 24.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Susquehanna decreased their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. Stifel Nicolaus dropped their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Stephens lowered their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group lowered their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Finally, Benchmark restated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $174.25.

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.