Versor Investments LP Takes $548,000 Position in Landstar System, Inc. (NASDAQ:LSTR)

Versor Investments LP acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 2,900 shares of the transportation company’s stock, valued at approximately $548,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. lifted its holdings in shares of Landstar System by 6.2% during the second quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock worth $313,080,000 after buying an additional 99,461 shares during the last quarter. Janus Henderson Group PLC raised its stake in Landstar System by 30.9% during the 1st quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock valued at $34,880,000 after purchasing an additional 42,740 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings 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 valued at $109,743,000 after purchasing an additional 37,020 shares during the period. Vanguard Group Inc. grew its position in Landstar System by 0.7% in the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after purchasing an additional 25,387 shares during the last quarter. Finally, Edgestream Partners L.P. increased its holdings in shares of Landstar System by 445.7% during the 1st quarter. Edgestream Partners L.P. now owns 30,425 shares of the transportation company’s stock worth $5,865,000 after purchasing an additional 24,850 shares during the period. Institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Evercore ISI reduced their target price on shares of 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. 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 report on Thursday, August 1st. Susquehanna cut their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Stephens decreased their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 30th. Finally, TD Cowen dropped their price objective on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Landstar System currently has an average rating of “Hold” and an average target price of $174.25.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated 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 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.00% of the company’s stock.

Landstar System Stock Performance

NASDAQ LSTR opened at $189.80 on Thursday. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40. The company has a 50 day moving average of $183.78 and a 200-day moving average of $183.31. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of 32.56 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 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 business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $1.71 earnings per share. The company’s revenue for the quarter was down 5.8% on a year-over-year basis. On average, equities analysts forecast that Landstar System, Inc. will post 5.61 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 19th. This represents a $1.44 annualized dividend and a yield of 0.76%. Landstar System’s dividend payout ratio (DPR) is 24.70%.

Landstar System 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.