Vestcor Inc Sells 14,739 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Vestcor Inc decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 39.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,520 shares of the transportation company’s stock after selling 14,739 shares during the quarter. Vestcor Inc’s holdings in Landstar System were worth $4,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quest Partners LLC bought a new position in Landstar System during the 2nd quarter worth approximately $73,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Landstar System by 431.3% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after acquiring an additional 358 shares during the last quarter. Point72 DIFC Ltd bought a new position in Landstar System during the 2nd quarter worth approximately $106,000. GAMMA Investing LLC boosted its stake in Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after acquiring an additional 70 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Landstar System in the second quarter valued at approximately $131,000. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on LSTR shares. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. JPMorgan Chase & Co. lifted their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research note 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 research note on Friday, November 1st. Stephens cut their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen cut their price target on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research note 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, the stock currently has a consensus rating of “Hold” and an average price target of $174.25.

Landstar System Price Performance

Shares of LSTR opened at $188.09 on Wednesday. The company has a market cap of $6.65 billion, a price-to-earnings ratio of 32.26 and a beta of 0.82. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The company’s fifty day simple moving average is $184.25 and its 200 day simple moving average is $183.82. 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 issued its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. Landstar System’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.71 earnings per share. On average, research analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently announced a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. This is an increase from Landstar System’s previous special dividend of $1.50. Landstar System’s payout ratio is presently 24.70%.

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.