Quest Partners LLC Increases Position in Landstar System, Inc. (NASDAQ:LSTR)

Quest Partners LLC grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2,158.7% during the third quarter, Holdings Channel reports. The firm owned 8,922 shares of the transportation company’s stock after acquiring an additional 8,527 shares during the quarter. Quest Partners LLC’s holdings in Landstar System were worth $1,685,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV lifted its stake in Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares in the last quarter. Mather Group LLC. increased its stake in Landstar System by 183.5% during the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock worth $76,000 after purchasing an additional 255 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Landstar System by 58.1% in the second quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock valued at $92,000 after purchasing an additional 183 shares during the period. Finally, Point72 DIFC Ltd purchased a new position in shares of Landstar System in the second quarter valued at approximately $106,000. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Shares of Landstar System stock opened at $183.12 on Tuesday. The firm has a market capitalization of $6.47 billion, a P/E ratio of 31.41 and a beta of 0.81. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 52 week low of $165.39 and a 52 week high of $201.40. The firm’s 50 day moving average is $183.98 and its two-hundred day moving average is $183.52.

Landstar System (NASDAQ:LSTR) last posted 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 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 analysts’ expectations of $1.22 billion. During the same period last year, the business earned $1.71 earnings per share. The company’s quarterly revenue was down 5.8% on a year-over-year basis. Research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a $0.36 dividend. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

LSTR has been the topic of a number of research reports. Stephens reduced their target price 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. The Goldman Sachs Group reduced their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Evercore ISI lowered 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. TD Cowen reduced 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, Susquehanna lowered their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $174.25.

Insider Buying and Selling

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

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.