Royce & Associates LP Grows Position in Landstar System, Inc. (NASDAQ:LSTR)

Royce & Associates LP boosted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 11.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 331,464 shares of the transportation company’s stock after acquiring an additional 33,962 shares during the period. Landstar System accounts for 0.6% of Royce & Associates LP’s portfolio, making the stock its 24th largest holding. Royce & Associates LP’s holdings in Landstar System were worth $62,604,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of LSTR. Victory Capital Management Inc. grew its position in shares of 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 purchasing an additional 99,461 shares in the last quarter. Janus Henderson Group PLC increased its stake in Landstar System by 30.9% in the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock worth $34,880,000 after acquiring an additional 42,740 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings 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 worth $109,743,000 after acquiring an additional 37,020 shares in the last quarter. Vanguard Group Inc. boosted 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 valued at $670,812,000 after acquiring an additional 25,387 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in Landstar System by 445.7% during the first quarter. Edgestream Partners L.P. now owns 30,425 shares of the transportation company’s stock valued at $5,865,000 after purchasing an additional 24,850 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

NASDAQ:LSTR opened at $187.41 on Friday. The company’s 50-day moving average is $183.78 and its two-hundred day moving average is $183.31. 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. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of 32.15 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last released 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). The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company’s revenue was down 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.71 earnings per share. Analysts forecast 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. Shareholders of record on Tuesday, November 19th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Insider Buying and Selling at Landstar System

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

Analyst Upgrades and Downgrades

Several research firms recently commented on LSTR. Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday. TD Cowen decreased their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. 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. Finally, UBS Group increased their price objective on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $174.25.

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.