GSA Capital Partners LLP lowered its stake in Landstar System, Inc. (NASDAQ:LSTR) by 13.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 15,345 shares of the transportation company’s stock after selling 2,426 shares during the period. GSA Capital Partners LLP’s holdings in Landstar System were worth $1,872,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LSTR. BlackRock Inc. increased its position in shares of Landstar System by 18.0% in the 2nd quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock worth $548,369,000 after purchasing an additional 764,662 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Landstar System in the 3rd quarter worth about $36,294,000. Smith Asset Management Group LP increased its position in shares of Landstar System by 134.9% in the 2nd quarter. Smith Asset Management Group LP now owns 459,476 shares of the transportation company’s stock worth $50,195,000 after purchasing an additional 263,884 shares during the last quarter. Hennessy Advisors Inc. bought a new stake in shares of Landstar System in the 3rd quarter worth about $28,755,000. Finally, Victory Capital Management Inc. increased its position in shares of Landstar System by 9.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock worth $167,005,000 after purchasing an additional 130,937 shares during the last quarter. 99.89% of the stock is owned by institutional investors.
In other news, COO Joseph J. Beacom sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total value of $358,560.00. Following the completion of the sale, the chief operating officer now directly owns 33,702 shares of the company’s stock, valued at approximately $4,028,063.04. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.90% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. BidaskClub raised shares of Landstar System from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 8th. ValuEngine raised shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Morgan Stanley set a $96.00 target price on shares of Landstar System and gave the stock a “sell” rating in a research report on Monday, October 22nd. Finally, Wolfe Research downgraded shares of Landstar System from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. Landstar System has an average rating of “Hold” and a consensus price target of $117.00.
Shares of NASDAQ:LSTR opened at $108.58 on Tuesday. The company has a market capitalization of $4.48 billion, a PE ratio of 19.51, a P/E/G ratio of 1.33 and a beta of 1.13. Landstar System, Inc. has a twelve month low of $96.91 and a twelve month high of $128.70. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.10.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.03. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Landstar System had a net margin of 5.61% and a return on equity of 33.82%. Equities analysts forecast that Landstar System, Inc. will post 6.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Tuesday, November 13th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date is Friday, November 9th. Landstar System’s dividend payout ratio is currently 17.60%.
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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, including third party logistics and less-than-truckload service providers.
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