Brown Brothers Harriman & Co. Acquires 80 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Brown Brothers Harriman & Co. increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 2.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,608 shares of the transportation company’s stock after acquiring an additional 80 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Landstar System were worth $681,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of the business. Quadrature Capital Ltd purchased a new position in shares of Landstar System during the first quarter valued at approximately $477,000. Public Employees Retirement System of Ohio raised its stake in Landstar System by 3.7% during the first quarter. Public Employees Retirement System of Ohio now owns 42,971 shares of the transportation company’s stock valued at $8,283,000 after buying an additional 1,540 shares during the last quarter. Caxton Associates LP bought a new stake in Landstar System in the first quarter worth $202,000. Bayesian Capital Management LP purchased a new stake in shares of Landstar System in the first quarter worth $219,000. Finally, Janus Henderson Group PLC increased its holdings in shares of Landstar System by 30.9% during the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock valued at $34,880,000 after acquiring an additional 42,740 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Up 1.4 %

LSTR stock opened at $187.74 on Wednesday. The business’s 50-day moving average is $184.00 and its two-hundred day moving average is $183.58. The company has a market cap of $6.63 billion, a price-to-earnings ratio of 32.20 and a beta of 0.81. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. 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 (NASDAQ:LSTR) last issued its quarterly earnings data 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). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. Landstar System’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company earned $1.71 EPS. As a group, analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders 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 dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, November 19th. Landstar System’s payout ratio is 24.70%.

Insider Transactions at Landstar System

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 completion of the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently commented on LSTR shares. The Goldman Sachs Group cut their price objective on shares of 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 cut their price target on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI cut their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research note on Wednesday, October 30th. Finally, Benchmark restated a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $174.25.

Landstar System Company 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.