Olympiad Research LP Acquires Shares of 1,085 Landstar System, Inc. (NASDAQ:LSTR)

Olympiad Research LP bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,085 shares of the transportation company’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in Landstar System by 108.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after acquiring an additional 74 shares during the last quarter. Mather Group LLC. increased its holdings in shares of Landstar System by 183.5% in the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after purchasing an additional 255 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Landstar System in the second quarter worth about $73,000. Whittier Trust Co. of Nevada Inc. boosted its stake in 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 valued at $83,000 after buying an additional 358 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Landstar System by 58.1% during the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after buying an additional 183 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LSTR. Raymond James decreased their price objective on Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st. 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 research note on Wednesday, October 30th. Stephens dropped their price objective on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. Susquehanna reduced their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Finally, The Goldman Sachs Group lowered their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $174.25.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

Landstar System Stock Up 1.4 %

Shares of LSTR opened at $191.15 on Friday. The firm has a fifty day moving average price of $183.30 and a 200-day moving average price of $182.90. 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 $6.75 billion, a P/E ratio of 32.79 and a beta of 0.81. Landstar System, Inc. has a 12-month low of $165.39 and a 12-month high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its earnings results 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 return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted $1.71 earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts expect that Landstar System, Inc. will post 5.61 earnings per share for the current year.

Landstar System Dividend Announcement

The company 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 $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.75%. Landstar System’s payout ratio is currently 24.70%.

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.