Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 28,583 shares of the transportation company’s stock after selling 1,347 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.08% of Landstar System worth $5,398,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Victory Capital Management Inc. boosted its position in Landstar System by 6.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after buying an additional 99,461 shares during the period. Dimensional Fund Advisors LP raised its stake 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 buying an additional 37,020 shares in the last quarter. Copeland Capital Management LLC lifted its stake in Landstar System by 0.9% during the third quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock worth $73,308,000 after purchasing an additional 3,630 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Landstar System by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 362,652 shares of the transportation company’s stock valued at $68,494,000 after purchasing an additional 948 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in 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 valued at $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several recent analyst reports. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. boosted their price target on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group raised their price objective on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI reduced their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $174.25.

Insiders Place Their Bets

In other 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 transaction of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.

Landstar System Stock Down 1.5 %

Shares of Landstar System stock opened at $184.51 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 market cap of $6.52 billion, a P/E ratio of 31.65 and a beta of 0.82. 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 firm has a fifty day moving average of $184.39 and a two-hundred day moving average of $183.67.

Landstar System (NASDAQ:LSTR) last announced 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). 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 during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the business earned $1.71 EPS. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio is presently 24.70%.

Landstar System Company 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.