Fmr LLC Buys 12,894 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Fmr LLC grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 8.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 162,222 shares of the transportation company’s stock after buying an additional 12,894 shares during the period. Fmr LLC owned 0.46% of Landstar System worth $30,639,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Victory Capital Management Inc. grew its stake 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. Dimensional Fund Advisors LP grew its position in shares of Landstar System by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock valued at $109,743,000 after purchasing an additional 37,020 shares in the last quarter. Copeland Capital Management LLC increased its holdings in shares of Landstar System by 0.9% in 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 period. Charles Schwab Investment Management Inc. increased its holdings in shares of 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 worth $68,494,000 after purchasing an additional 948 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of 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 worth $63,243,000 after buying an additional 326,212 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Price Performance

Landstar System stock opened at $181.29 on Monday. Landstar System, Inc. has a 12-month low of $165.39 and a 12-month high of $201.40. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $6.41 billion, a PE ratio of 31.10 and a beta of 0.82. The firm has a 50-day moving average price of $184.28 and a 200-day moving average price of $183.72.

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). 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 for the quarter, compared to the consensus estimate of $1.22 billion. During the same period last year, the firm earned $1.71 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, equities research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 0.79%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

LSTR has been the topic of a number of research analyst reports. Stephens decreased their target price on 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. TD Cowen decreased their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their target price 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. Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Finally, Evercore ISI decreased their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.25.

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the sale, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is owned by insiders.

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.