6,500 Shares in Landstar System, Inc. (NASDAQ:LSTR) Purchased by ING Groep NV

ING Groep NV acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 6,500 shares of the transportation company’s stock, valued at approximately $1,228,000.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Landstar System by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares during the last quarter. Tidal Investments LLC increased its position in shares of Landstar System by 125.4% during the 1st quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock worth $2,467,000 after purchasing an additional 7,118 shares during the last quarter. Comerica Bank increased its position in shares of Landstar System by 18.5% during the 1st quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock worth $6,005,000 after purchasing an additional 4,853 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Landstar System by 362.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company’s stock worth $765,000 after purchasing an additional 3,249 shares during the last quarter. Finally, Algert Global LLC increased its position in shares of Landstar System by 7.5% during the 2nd quarter. Algert Global LLC now owns 39,929 shares of the transportation company’s stock worth $7,366,000 after purchasing an additional 2,798 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Susquehanna decreased their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. The Goldman Sachs Group decreased their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Finally, Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday. One 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 currently has an average rating of “Hold” and an average target price of $174.25.

Landstar System Stock Performance

LSTR opened at $182.82 on Monday. The business has a fifty day simple moving average of $183.98 and a 200 day simple moving average of $183.44. The company has a market capitalization of $6.46 billion, a PE ratio of 31.36 and a beta of 0.81. Landstar System, Inc. has a 1 year low of $165.39 and a 1 year high of $201.40. 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 released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 earnings per share. Research analysts expect that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. Landstar System’s payout ratio is 24.70%.

Insider Activity

In other news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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.