Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 36.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the transportation company’s stock after selling 743 shares during the period. Paloma Partners Management Co’s holdings in Landstar System were worth $246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in LSTR. Thrivent Financial for Lutherans raised its stake in shares of Landstar System by 3,775.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after buying an additional 326,212 shares during the last quarter. Victory Capital Management Inc. raised its position in 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 valued at $313,080,000 after acquiring an additional 99,461 shares in the last quarter. BNP Paribas Financial Markets raised 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 in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Landstar System by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock valued at $109,743,000 after acquiring an additional 37,020 shares during the period. Finally, Royce & Associates LP boosted its position in Landstar System by 11.4% in the 3rd quarter. Royce & Associates LP now owns 331,464 shares of the transportation company’s stock worth $62,604,000 after purchasing an additional 33,962 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Down 1.7 %

NASDAQ LSTR opened at $181.29 on Friday. 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 business has a fifty day moving average price of $184.28 and a 200 day moving average price of $183.67. The company has a market cap of $6.40 billion, a P/E ratio of 31.10 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last posted its quarterly 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 return on equity of 20.68% and a net margin of 4.32%. The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the prior year, the business posted $1.71 earnings per share. The business’s quarterly revenue was down 5.8% on a year-over-year basis. Research analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

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

Wall Street Analyst Weigh In

LSTR has been the subject of several recent research reports. TD Cowen cut their target price on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. UBS Group increased their target price on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Finally, JPMorgan Chase & Co. upped their price target on Landstar System from $184.00 to $188.00 and gave the stock 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 stock. Based on data from MarketBeat, Landstar System currently has an average rating of “Hold” and an average target price of $174.25.

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the business’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 transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

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.