Landstar System, Inc. $LSTR Stock Sold by Royce & Associates LP

Royce & Associates LP cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 225,034 shares of the transportation company’s stock after selling 5,934 shares during the quarter. Royce & Associates LP owned approximately 0.67% of Landstar System worth $37,951,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Landstar System in the 2nd quarter valued at about $698,683,000. Bank of New York Mellon Corp bought a new stake in Landstar System during the second quarter worth about $68,507,000. Bank of America Corp DE bought a new stake in Landstar System during the second quarter worth about $51,340,000. Corient Private Wealth LP acquired a new position in Landstar System during the second quarter valued at approximately $44,949,000. Finally, Jupiter Topco LLC acquired a new position in Landstar System during the second quarter valued at approximately $44,195,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR stock traded up $1.66 on Friday, reaching $149.68. The stock had a trading volume of 309,684 shares, compared to its average volume of 487,530. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average is $163.69 and its two-hundred day moving average is $176.21. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 31.71 and a beta of 0.89. Landstar System, Inc. has a 12 month low of $121.11 and a 12 month high of $228.46.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up 25.4% on a year-over-year basis. On average, research analysts expect that Landstar System, Inc. will post 6.02 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 17th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, November 17th. This represents a $1.76 annualized dividend and a yield of 1.2%. Landstar System’s dividend payout ratio is currently 37.29%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. TD Cowen decreased their price target on Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. Janney Montgomery Scott set a $182.00 price objective on Landstar System in a research note on Wednesday, July 29th. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price objective on the stock in a research note on Tuesday, August 4th. Wells Fargo & Company cut their price objective on Landstar System from $225.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, October 28th. Finally, Morgan Stanley decreased their target price on shares of Landstar System from $145.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $181.33.

Insider Activity

In other Landstar System news, CEO Frank A. Lonegro acquired 5,000 shares of the business’s stock in a transaction dated Friday, October 30th. The stock was bought at an average cost of $142.92 per share, with a total value of $714,600.00. Following the completion of the transaction, the chief executive officer directly owned 28,110 shares in the company, valued at approximately $4,017,481.20. This represents a 21.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.74% of the stock is currently owned by insiders.

About Landstar System

Landstar System, Inc. is a transportation and logistics company that arranges freight movement through an asset-light network of independent agents, business capacity owners, and third-party transportation providers. Rather than relying primarily on a company-owned fleet, Landstar connects customers with available transportation capacity and coordinates shipments through its network. The company offers truckload services, including van, flatbed, and specialized transportation, as well as less-than-truckload, expedited, and intermodal shipping.