Point72 Hong Kong Ltd Purchases Shares of 3,984 Landstar System, Inc. (NASDAQ:LSTR)

Point72 Hong Kong Ltd acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,984 shares of the transportation company’s stock, valued at approximately $752,000.

Other institutional investors have also recently modified their holdings of the company. ING Groep NV purchased a new position in Landstar System during the third quarter worth $1,228,000. Verition Fund Management LLC boosted its stake in shares of Landstar System by 28.1% during the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock valued at $11,144,000 after acquiring an additional 12,931 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Landstar System by 3,775.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock worth $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Landstar System by 362.6% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company’s stock valued at $765,000 after purchasing an additional 3,249 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Landstar System in the 3rd quarter valued at about $1,190,000. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Up 0.7 %

Shares of NASDAQ:LSTR opened at $187.20 on Tuesday. The stock has a 50-day simple moving average of $184.34 and a 200-day simple moving average of $183.63. The stock has a market capitalization of $6.61 billion, a P/E ratio of 32.11 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 quick ratio of 2.21 and a current ratio of 2.21.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data 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 business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. Landstar System’s revenue was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 EPS. Equities analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio is presently 24.70%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of a number of recent research reports. Susquehanna lowered their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. Stephens lowered their target price 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. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. The Goldman Sachs Group decreased their price objective 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, Evercore ISI dropped their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and an average price target 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.