JPMorgan Chase & Co. Has $117.75 Million Holdings in Landstar System, Inc. (NASDAQ:LSTR)

JPMorgan Chase & Co. decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 12.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 623,433 shares of the transportation company’s stock after selling 90,688 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.76% of Landstar System worth $117,748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OneDigital Investment Advisors LLC boosted its stake in shares of Landstar System by 1.5% during the third quarter. OneDigital Investment Advisors LLC now owns 4,678 shares of the transportation company’s stock valued at $883,000 after purchasing an additional 68 shares in the last quarter. GAMMA Investing LLC raised its holdings in 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 last quarter. Equitable Trust Co. boosted its position in Landstar System by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock worth $614,000 after buying an additional 71 shares during the period. Caprock Group LLC grew its holdings in Landstar System by 2.3% during the 3rd quarter. Caprock Group LLC now owns 3,378 shares of the transportation company’s stock worth $638,000 after acquiring an additional 77 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its position in Landstar System by 2.3% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,608 shares of the transportation company’s stock valued at $681,000 after acquiring an additional 80 shares during the period. Institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of recent research reports. 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 report on Wednesday, October 30th. Evercore ISI reduced their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. TD Cowen reduced their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. Finally, UBS Group increased their target price on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. 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, Landstar System currently has an average rating of “Hold” and an average target price of $174.25.

Landstar System Stock Performance

Shares of LSTR opened at $171.86 on Thursday. Landstar System, Inc. has a one year low of $165.39 and a one year high of $200.43. The company has a market cap of $6.07 billion, a PE ratio of 29.48 and a beta of 0.82. The stock has a 50-day moving average of $181.85 and a 200-day moving average of $183.45. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21.

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 period last year, the business posted $1.71 EPS. The company’s revenue was down 5.8% on a year-over-year basis. On average, equities research analysts predict that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed 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 a positive change 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 24.70%.

Insider Activity

In other Landstar System news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.