Royce & Associates LP Buys 33,962 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Royce & Associates LP grew its stake in Landstar System, Inc. (NASDAQ:LSTR) by 11.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,464 shares of the transportation company’s stock after purchasing an additional 33,962 shares during the quarter. Landstar System makes up about 0.6% of Royce & Associates LP’s holdings, making the stock its 24th largest position. Royce & Associates LP owned approximately 0.94% of Landstar System worth $62,604,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after purchasing an additional 25,387 shares during the last quarter. Sei Investments Co. lifted its stake in Landstar System by 17.9% in the first quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock valued at $13,926,000 after purchasing an additional 10,978 shares during the last quarter. Tidal Investments LLC lifted 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 valued at $2,467,000 after buying an additional 7,118 shares during the last quarter. Comerica Bank raised its stake in Landstar System by 18.5% in the 1st quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock valued at $6,005,000 after acquiring an additional 4,853 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its position in Landstar System by 362.6% during the second 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 period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Raymond James lowered shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday. Susquehanna decreased their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. UBS Group raised their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their price target on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. One investment 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 a consensus target price of $174.25.

Landstar System Trading Down 1.3 %

LSTR opened at $187.41 on Friday. Landstar System, Inc. has a one year low of $165.39 and a one 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 business has a 50 day simple moving average of $183.78 and a two-hundred day simple moving average of $183.31. 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 results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the firm earned $1.71 EPS. The business’s revenue was down 5.8% on a year-over-year basis. Analysts predict that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the firm’s 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by corporate insiders.

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.