Versor Investments LP Buys Shares of 2,900 Landstar System, Inc. (NASDAQ:LSTR)

Versor Investments LP purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,900 shares of the transportation company’s stock, valued at approximately $548,000.

A number of other institutional investors and hedge funds have also modified their holdings of LSTR. Victory Capital Management Inc. boosted its stake in Landstar System by 6.2% in the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after acquiring an additional 99,461 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Landstar System by 30.9% in the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock valued at $34,880,000 after purchasing an additional 42,740 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Landstar System by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after purchasing an additional 37,020 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Landstar System by 0.7% during the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares during the period. Finally, Edgestream Partners L.P. increased its holdings in Landstar System by 445.7% in the first quarter. Edgestream Partners L.P. now owns 30,425 shares of the transportation company’s stock valued at $5,865,000 after purchasing an additional 24,850 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value 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 approximately $2,595,778.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LSTR shares. JPMorgan Chase & Co. boosted their target price on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. UBS Group increased their target price 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. Evercore ISI reduced their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. Finally, Stephens lowered 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 research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and a consensus price target of $174.25.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $189.80 on Thursday. The company has a fifty day moving average price of $183.78 and a 200 day moving average price of $183.31. The firm has a market cap of $6.71 billion, a PE ratio of 32.56 and a beta of 0.81. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm’s quarterly revenue was down 5.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.71 earnings per share. Research analysts predict that Landstar System, Inc. will post 5.61 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.76%. 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.