Portfolio Design Labs LLC Acquires New Position in Landstar System, Inc. (NASDAQ:LSTR)

Portfolio Design Labs LLC bought a new position in Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, HoldingsChannel reports. The fund bought 7,313 shares of the transportation company’s stock, valued at approximately $1,381,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of Landstar System during the 2nd quarter worth about $73,000. Mather Group LLC. grew its stake in shares of Landstar System by 183.5% in the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock valued at $76,000 after buying an additional 255 shares in the last quarter. Whittier Trust Co. of Nevada Inc. increased its holdings in Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after buying an additional 358 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.75% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have commented on LSTR shares. The Goldman Sachs Group decreased 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 report on Wednesday, October 9th. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Susquehanna cut their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. 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. Finally, Stifel Nicolaus lowered their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to MarketBeat, Landstar System presently has an average rating of “Hold” and a consensus price target of $174.25.

Landstar System Trading Down 1.3 %

LSTR stock opened at $180.41 on Wednesday. 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 business’s 50 day moving average is $184.01 and its 200-day moving average is $183.56. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The firm has a market cap of $6.37 billion, a P/E ratio of 30.95 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) 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 firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm posted $1.71 EPS. The business’s revenue was down 5.8% on a year-over-year basis. Equities analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be issued a dividend of $0.36 per share. 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 is 24.70%.

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.