Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA reduced its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,370 shares of the transportation company’s stock after selling 199 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Landstar System were worth $2,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. ING Groep NV acquired a new position in Landstar System in the third quarter valued at $1,228,000. Thrivent Financial for Lutherans increased its stake in Landstar System by 3,775.2% in the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after purchasing an additional 326,212 shares during the last quarter. Tidal Investments LLC grew its position in Landstar System by 125.4% during the first quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock valued at $2,467,000 after acquiring an additional 7,118 shares during the period. Comerica Bank grew its position in Landstar System by 18.5% during the first quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock valued at $6,005,000 after acquiring an additional 4,853 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in Landstar System by 362.6% during the second quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company’s stock valued at $765,000 after acquiring an additional 3,249 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the sale, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of research reports. Evercore ISI lowered their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research report on Wednesday, October 30th. Stifel Nicolaus lowered their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Susquehanna decreased their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. Finally, TD Cowen decreased their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. One investment 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, Landstar System currently has an average rating of “Hold” and an average target price of $174.25.

Landstar System Trading Up 1.4 %

Shares of LSTR opened at $187.74 on Wednesday. The company has a market capitalization of $6.63 billion, a P/E ratio of 31.76 and a beta of 0.81. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The stock has a 50-day moving average price of $183.93 and a 200 day moving average price of $183.56.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.71 EPS. Sell-side analysts forecast that Landstar System, Inc. will post 5.57 EPS 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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date 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.