Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 31.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,091 shares of the transportation company’s stock after selling 36,984 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Landstar System worth $15,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Landstar System by 2.9% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,008 shares of the transportation company’s stock worth $387,000 after buying an additional 57 shares during the last quarter. Sei Investments Co. raised its holdings in Landstar System by 17.9% in the 1st quarter. Sei Investments Co. now owns 72,248 shares of the transportation company’s stock worth $13,926,000 after purchasing an additional 10,978 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in Landstar System by 3.1% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 43,753 shares of the transportation company’s stock worth $7,843,000 after purchasing an additional 1,318 shares during the period. Vanguard Group Inc. raised its holdings 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 period. Finally, Ontario Teachers Pension Plan Board raised its holdings in Landstar System by 72.0% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 15,420 shares of the transportation company’s stock worth $2,972,000 after purchasing an additional 6,453 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

LSTR has been the subject of a number of research analyst reports. Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday. Stifel Nicolaus cut their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Benchmark reiterated a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. 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. Finally, JPMorgan Chase & Co. raised their price target on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $174.25.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the business’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 completion of the transaction, the chief financial officer now owns 14,083 shares of the company’s stock, valued at $2,595,778.56. The trade was a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $182.82 on Friday. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm’s 50-day moving average price is $183.92 and its two-hundred day moving average price is $183.34. Landstar System, Inc. has a 52-week low of $165.39 and a 52-week high of $201.40. The stock has a market capitalization of $6.46 billion, a P/E ratio of 31.36 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 the consensus estimate of $1.22 billion. During the same period last year, the firm posted $1.71 EPS. The business’s quarterly revenue was down 5.8% on a year-over-year basis. As a group, sell-side analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 19th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s payout ratio 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.