Edgestream Partners L.P. Boosts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Edgestream Partners L.P. raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 293.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,240 shares of the transportation company’s stock after purchasing an additional 31,508 shares during the period. Landstar System accounts for approximately 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 29th largest holding. Edgestream Partners L.P. owned approximately 0.12% of Landstar System worth $7,978,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of LSTR. Bayesian Capital Management LP purchased a new stake in shares of Landstar System in the first quarter valued at $219,000. B. Riley Wealth Advisors Inc. boosted its stake in shares of Landstar System by 72.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,554 shares of the transportation company’s stock worth $452,000 after purchasing an additional 1,070 shares during the last quarter. Comerica Bank boosted its stake in shares of Landstar System by 18.5% during the 1st quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock worth $6,005,000 after purchasing an additional 4,853 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of Landstar System by 9.4% during the first quarter. Cetera Advisors LLC now owns 1,811 shares of the transportation company’s stock worth $349,000 after buying an additional 156 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its position in shares of Landstar System by 13.8% in the first quarter. EverSource Wealth Advisors LLC now owns 595 shares of the transportation company’s stock valued at $115,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Insiders Place Their Bets

In other 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on LSTR. Susquehanna decreased 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 price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. TD Cowen lowered their price objective 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. Evercore ISI reduced their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have given a hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $174.25.

Landstar System Stock Down 0.2 %

LSTR opened at $185.92 on Friday. Landstar System, Inc. has a 1 year low of $165.39 and a 1 year high of $201.40. The firm has a 50 day moving average price of $184.24 and a 200 day moving average price of $183.63. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. The company has a market cap of $6.57 billion, a PE ratio of 31.89 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share (EPS) 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 analyst estimates 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 was down 5.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.71 EPS. Sell-side analysts expect 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. Shareholders of record on Tuesday, November 19th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.77%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

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.