Tidal Investments LLC Has $1.90 Million Stake in Landstar System, Inc. (NASDAQ:LSTR)

Tidal Investments LLC raised its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,053 shares of the transportation company’s stock after purchasing an additional 857 shares during the quarter. Tidal Investments LLC’s holdings in Landstar System were worth $1,899,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 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 position in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Landstar System by 14.1% in the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock valued at $107,000 after buying an additional 70 shares during the period. Point72 DIFC Ltd bought a new stake in shares of Landstar System in the 2nd quarter valued at $106,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Landstar System in the 2nd quarter valued at $131,000. 97.95% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stephens reduced their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Susquehanna cut their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. TD Cowen lowered their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. UBS Group lifted their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $174.25.

Landstar System Stock Performance

Shares of LSTR opened at $183.61 on Tuesday. The stock has a market capitalization of $6.49 billion, a price-to-earnings ratio of 31.49 and a beta of 0.82. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40. The firm has a fifty day simple moving average of $184.61 and a 200 day simple moving average of $184.01. 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 posted its quarterly earnings data 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 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%. The company’s quarterly revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.71 earnings per share. Research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, January 21st. Shareholders of record on Tuesday, January 7th will be paid a $2.00 dividend. This is an increase from Landstar System’s previous special dividend of $1.50. The ex-dividend date is Tuesday, January 7th. Landstar System’s dividend payout ratio (DPR) is currently 24.70%.

Insiders Place Their Bets

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 value of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, 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 the SEC website. Insiders own 1.00% of the company’s stock.

Landstar System 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.