Atria Investments Inc Cuts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Atria Investments Inc decreased its position in Landstar System, Inc. (NASDAQ:LSTR) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,748 shares of the transportation company’s stock after selling 280 shares during the period. Atria Investments Inc’s holdings in Landstar System were worth $1,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV increased its holdings in Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock valued at $26,000 after buying an additional 74 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Landstar System in the second quarter valued at about $73,000. Mather Group LLC. grew its position in shares of Landstar System by 183.5% in the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 255 shares during the period. Whittier Trust Co. of Nevada Inc. grew its position in shares of Landstar System by 431.3% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after purchasing an additional 358 shares during the period. Finally, GAMMA Investing LLC grew its position 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. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on LSTR shares. Susquehanna dropped their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. The Goldman Sachs Group decreased their target price 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. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday. Stifel Nicolaus reduced their price target on shares of Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, UBS Group upped their target price on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $174.25.

Landstar System Trading Down 2.4 %

Shares of Landstar System stock opened at $182.82 on Friday. The company’s 50-day simple moving average is $183.92 and its 200-day simple moving average is $183.34. Landstar System, Inc. has a 52-week low of $165.39 and a 52-week high of $201.40. The firm has a market cap of $6.46 billion, a price-to-earnings ratio of 31.36 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 (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 net margin of 4.32% and a return on equity of 20.68%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the business posted $1.71 EPS. Landstar System’s revenue was down 5.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently disclosed 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. This represents a $1.44 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s dividend payout ratio is presently 24.70%.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following 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 the SEC website. 1.00% of the stock is owned by corporate insiders.

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.