Landstar System, Inc. (NASDAQ:LSTR) Short Interest Down 20.5% in December

Landstar System, Inc. (NASDAQ:LSTR) was the target of a large decline in short interest in December. As of December 31st, there was short interest totalling 592,800 shares, a decline of 20.5% from the December 15th total of 745,300 shares. Based on an average daily volume of 252,100 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.7% of the company’s stock are sold short.

Landstar System Stock Performance

LSTR traded down $3.59 on Friday, reaching $174.23. 1,202,207 shares of the stock were exchanged, compared to its average volume of 347,664. 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 company’s 50-day moving average price is $179.65 and its 200 day moving average price is $182.55. The firm has a market capitalization of $6.16 billion, a PE ratio of 29.89 and a beta of 0.83. Landstar System has a fifty-two week low of $164.04 and a fifty-two week high of $200.43.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the firm earned $1.71 EPS. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Landstar System will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. The ex-dividend date is Tuesday, January 7th. This is a boost from Landstar System’s previous special dividend of $1.50. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Insider Activity

In other news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.75% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Several hedge funds have recently added to or reduced their stakes in the business. State Street Corp lifted its holdings in shares of Landstar System by 1.4% in the 3rd quarter. State Street Corp now owns 1,117,857 shares of the transportation company’s stock valued at $211,130,000 after buying an additional 15,328 shares during the period. Geode Capital Management LLC lifted its holdings in Landstar System by 5.1% in the third quarter. Geode Capital Management LLC now owns 813,546 shares of the transportation company’s stock valued at $153,685,000 after acquiring an additional 39,223 shares during the period. Dimensional Fund Advisors LP boosted its position in Landstar System by 6.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after purchasing an additional 37,020 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Landstar System by 10.8% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 429,928 shares of the transportation company’s stock worth $81,201,000 after purchasing an additional 41,758 shares during the period. Finally, Copeland Capital Management LLC grew its stake in shares of Landstar System by 0.9% during the 3rd quarter. Copeland Capital Management LLC now owns 388,142 shares of the transportation company’s stock worth $73,308,000 after purchasing an additional 3,630 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LSTR shares. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. 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. UBS Group upped their price target on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Evercore ISI lowered their price objective on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $171.45.

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.