Avior Wealth Management LLC Lowers Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Avior Wealth Management LLC decreased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,439 shares of the transportation company’s stock after selling 399 shares during the quarter. Avior Wealth Management LLC’s holdings in Landstar System were worth $935,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Thrivent Financial for Lutherans raised its stake in shares of 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 worth $63,243,000 after purchasing an additional 326,212 shares during the last quarter. BNP Paribas Financial Markets increased its position in Landstar System by 509.3% during the third quarter. BNP Paribas Financial Markets now owns 55,048 shares of the transportation company’s stock valued at $10,397,000 after acquiring an additional 46,014 shares during the last quarter. Janus Henderson Group PLC increased its position in Landstar System by 24.0% during the third quarter. Janus Henderson Group PLC now owns 232,924 shares of the transportation company’s stock valued at $43,992,000 after acquiring an additional 45,147 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in Landstar System by 10.8% during the third quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock valued at $81,201,000 after acquiring an additional 41,758 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Landstar System by 5.1% during the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock valued at $153,685,000 after acquiring an additional 39,223 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Shares of Landstar System stock opened at $173.04 on Friday. The stock has a 50 day moving average of $178.02 and a 200 day moving average of $182.26. Landstar System, Inc. has a 12 month low of $164.04 and a 12 month high of $200.16. The firm has a market cap of $6.11 billion, a PE ratio of 29.68 and a beta of 0.83. 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 (NASDAQ:LSTR) last announced 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). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the company posted $1.71 earnings per share. Landstar System’s quarterly revenue was down 5.8% on a year-over-year basis. On average, research analysts expect that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a special dividend, which was paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th were given a dividend of $2.00 per share. The ex-dividend date was Tuesday, January 7th. This is an increase from Landstar System’s previous special dividend of $1.50. Landstar System’s dividend payout ratio is 24.70%.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $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 can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price objective on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Stephens reduced their price objective on 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. Stifel Nicolaus upped their price objective on Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research report on Thursday. Finally, UBS Group boosted their price target on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $172.27.

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.