Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Atria Investments Inc

Atria Investments Inc cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 9,748 shares of the transportation company’s stock after selling 280 shares during the quarter. Atria Investments Inc’s holdings in Landstar System were worth $1,841,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LSTR. Victory Capital Management Inc. raised its position in shares of Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after purchasing an additional 99,461 shares during the period. Janus Henderson Group PLC raised its position in shares of Landstar System by 30.9% during the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after purchasing an additional 42,740 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Landstar System by 6.6% during the second 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 period. Vanguard Group Inc. raised its position 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. raised its position in shares of Landstar System by 445.7% during the first quarter. Edgestream Partners L.P. now owns 30,425 shares of the transportation company’s stock worth $5,865,000 after purchasing an additional 24,850 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on LSTR shares. UBS Group upped their price target on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Stephens dropped their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday. Evercore ISI dropped their target price on 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, Susquehanna dropped their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $174.25.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $182.82 on Friday. The business has a 50 day moving average price of $183.92 and a 200 day moving average price of $183.34. Landstar System, Inc. has a twelve month low of $165.39 and a twelve month high of $201.40. The company has a market cap of $6.46 billion, a price-to-earnings ratio of 31.36 and a beta of 0.81. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last announced 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). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the previous year, the company earned $1.71 EPS. Landstar System’s revenue for the quarter was down 5.8% compared to the same quarter last year. Research analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. Landstar System’s payout ratio is presently 24.70%.

Insider Transactions at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.

About Landstar System

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.