Point72 Asia Singapore Pte. Ltd. Raises Position in Landstar System, Inc. (NASDAQ:LSTR)

Point72 Asia Singapore Pte. Ltd. increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 419.3% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,682 shares of the transportation company’s stock after buying an additional 2,973 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Landstar System were worth $695,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Point72 Hong Kong Ltd purchased a new stake in shares of Landstar System in the third quarter worth $752,000. Edgestream Partners L.P. raised its position in shares of Landstar System by 293.6% in the third quarter. Edgestream Partners L.P. now owns 42,240 shares of the transportation company’s stock worth $7,978,000 after buying an additional 31,508 shares in the last quarter. Verition Fund Management LLC raised its position in shares of Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after buying an additional 12,931 shares in the last quarter. Captrust Financial Advisors raised its position in shares of Landstar System by 22.3% in the third quarter. Captrust Financial Advisors now owns 13,893 shares of the transportation company’s stock worth $2,624,000 after buying an additional 2,534 shares in the last quarter. Finally, FORA Capital LLC raised its position in shares of Landstar System by 64.2% in the third quarter. FORA Capital LLC now owns 4,219 shares of the transportation company’s stock worth $797,000 after buying an additional 1,649 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Down 0.2 %

Shares of NASDAQ:LSTR opened at $185.92 on Monday. The stock’s 50-day moving average price is $184.24 and its 200-day moving average price is $183.62. Landstar System, Inc. has a 12-month low of $165.39 and a 12-month high of $201.40. The stock has a market capitalization of $6.57 billion, a P/E ratio of 31.89 and a beta of 0.81. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $1.21 billion for 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 firm’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same period last year, the business posted $1.71 earnings per share. On average, equities analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.77%. Landstar System’s payout ratio is presently 24.70%.

Insider Buying and Selling

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 value of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LSTR. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Evercore ISI lowered their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. TD Cowen lowered their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group raised their price target on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $174.25.

Landstar System Company 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.