Huntington National Bank Grows Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Huntington National Bank boosted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 11.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 924 shares of the transportation company’s stock after acquiring an additional 95 shares during the period. Huntington National Bank’s holdings in Landstar System were worth $175,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Landstar System by 3.1% during the first 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 purchasing an additional 1,318 shares during the last quarter. Vanguard Group Inc. increased its stake in 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 buying an additional 25,387 shares during the period. CANADA LIFE ASSURANCE Co raised its position in Landstar System by 2.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 32,770 shares of the transportation company’s stock worth $6,311,000 after buying an additional 714 shares during the last quarter. Vident Advisory LLC lifted its stake in shares of Landstar System by 13.0% in the 1st quarter. Vident Advisory LLC now owns 19,406 shares of the transportation company’s stock worth $3,741,000 after acquiring an additional 2,226 shares during the period. Finally, Quadrature Capital Ltd purchased a new stake in shares of Landstar System in the first quarter valued at about $477,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.00% of the stock is owned by insiders.

Analysts Set New Price Targets

LSTR has been the subject of several analyst reports. JPMorgan Chase & Co. increased their price target on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday. Stephens reduced their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Susquehanna dropped their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, TD Cowen reduced their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $174.25.

Landstar System Trading Down 2.4 %

Shares of LSTR stock opened at $182.82 on Monday. The stock has a market cap of $6.46 billion, a P/E 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, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The business has a fifty day simple moving average of $183.98 and a 200-day simple moving average of $183.44.

Landstar System (NASDAQ:LSTR) last posted 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 analysts’ expectations of $1.22 billion. During the same quarter last year, the business posted $1.71 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. On average, analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

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