Landstar System, Inc. (NASDAQ:LSTR) Shares Purchased by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 28.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,177 shares of the transportation company’s stock after purchasing an additional 12,756 shares during the period. Franklin Resources Inc. owned about 0.16% of Landstar System worth $11,000,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in shares of Landstar System by 9.3% during the third quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company’s stock worth $1,899,000 after purchasing an additional 857 shares during the last quarter. World Investment Advisors LLC acquired a new position in shares of Landstar System during the 3rd quarter valued at about $4,036,000. Sanctuary Advisors LLC lifted its holdings in shares of Landstar System by 24.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 6,655 shares of the transportation company’s stock worth $1,203,000 after acquiring an additional 1,319 shares during the period. TD Private Client Wealth LLC lifted its holdings in shares of Landstar System by 27.9% during the 3rd quarter. TD Private Client Wealth LLC now owns 725 shares of the transportation company’s stock worth $137,000 after acquiring an additional 158 shares during the period. Finally, Coldstream Capital Management Inc. grew its holdings in Landstar System by 4.7% in the third quarter. Coldstream Capital Management Inc. now owns 11,552 shares of the transportation company’s stock valued at $2,182,000 after purchasing an additional 520 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

Landstar System stock opened at $172.64 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40. The stock’s 50 day moving average price is $183.80 and its 200 day moving average price is $183.86. The firm has a market capitalization of $6.10 billion, a PE ratio of 29.61 and a beta of 0.82.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $1.71 earnings per share. Landstar System’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, sell-side analysts expect that Landstar System, Inc. 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. Stockholders of record on Tuesday, January 7th will be given a dividend of $2.00 per share. This is a positive change from Landstar System’s previous special dividend of $1.50. The ex-dividend date is Tuesday, January 7th. Landstar System’s payout ratio is presently 24.70%.

Analyst Upgrades and Downgrades

LSTR has been the subject of several research analyst reports. Evercore ISI dropped their price target on shares of 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. The Goldman Sachs Group cut their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. TD Cowen lowered their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Wednesday, October 30th. Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Finally, Susquehanna reduced their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $174.25.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,000 shares of Landstar System 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 sale, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was 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. Insiders own 1.00% of the company’s stock.

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.