Algert Global LLC Sells 22,290 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Algert Global LLC lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 55.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,639 shares of the transportation company’s stock after selling 22,290 shares during the period. Algert Global LLC’s holdings in Landstar System were worth $3,331,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its holdings in Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after buying an additional 74 shares during the period. Mather Group LLC. lifted its stake in shares of Landstar System by 183.5% during the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after purchasing an additional 255 shares during the last quarter. Quest Partners LLC bought a new stake in Landstar System during the second quarter valued at about $73,000. Whittier Trust Co. of Nevada Inc. grew its stake in Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 358 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after purchasing an additional 183 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Insider Activity at Landstar System

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 transaction of $184,320.00. Following the sale, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Landstar System Stock Performance

LSTR opened at $185.16 on Tuesday. 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 12-month low of $165.39 and a 12-month high of $201.40. The firm has a 50 day moving average of $183.90 and a two-hundred day moving average of $183.54. The firm has a market capitalization of $6.54 billion, a PE ratio of 31.57 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business earned $1.71 EPS. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current 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 issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.78%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Evercore ISI cut their price objective 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. Susquehanna cut their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. 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 note on Wednesday, October 30th. Finally, Stephens decreased their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $174.25.

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.