Allspring Global Investments Holdings LLC reduced its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 13.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,165 shares of the transportation company’s stock after selling 8,174 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.14% of Landstar System worth $7,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Renaissance Technologies LLC purchased a new stake in Landstar System during the first quarter valued at $26,416,000. Raymond James & Associates increased its position in Landstar System by 229.1% during the third quarter. Raymond James & Associates now owns 148,591 shares of the transportation company’s stock valued at $21,452,000 after acquiring an additional 103,440 shares during the last quarter. Northern Trust Corp increased its position in Landstar System by 21.5% during the first quarter. Northern Trust Corp now owns 559,782 shares of the transportation company’s stock valued at $84,432,000 after acquiring an additional 98,958 shares during the last quarter. FMR LLC increased its position in Landstar System by 13.3% during the second quarter. FMR LLC now owns 844,831 shares of the transportation company’s stock valued at $122,856,000 after acquiring an additional 98,859 shares during the last quarter. Finally, First Trust Advisors LP increased its position in Landstar System by 58.4% during the first quarter. First Trust Advisors LP now owns 237,630 shares of the transportation company’s stock valued at $35,842,000 after acquiring an additional 87,638 shares during the last quarter. 98.90% of the stock is owned by institutional investors.
Insider Activity at Landstar System
In related news, CEO James B. Gattoni sold 20,000 shares of the stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $155.86, for a total transaction of $3,117,200.00. Following the completion of the transaction, the chief executive officer now directly owns 74,792 shares of the company’s stock, valued at $11,657,081.12. The sale was disclosed in a filing with the SEC, which is available through this link. 0.90% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Landstar System Stock Performance
NASDAQ:LSTR opened at $169.88 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.08. Landstar System, Inc. has a 12-month low of $137.15 and a 12-month high of $178.14. The stock has a 50-day moving average price of $168.01 and a 200 day moving average price of $155.58. The stock has a market capitalization of $6.10 billion, a P/E ratio of 13.99, a P/E/G ratio of 1.55 and a beta of 0.91.
Landstar System (NASDAQ:LSTR – Get Rating) last released its earnings results on Wednesday, October 19th. The transportation company reported $2.76 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.76. Landstar System had a return on equity of 52.31% and a net margin of 5.85%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same quarter last year, the business posted $2.58 earnings per share. The firm’s revenue was up 4.7% on a year-over-year basis. Equities research analysts forecast that Landstar System, Inc. will post 11.77 EPS for the current fiscal year.
Landstar System Dividend Announcement
The company also recently declared a None dividend, which will be paid on Friday, January 20th. Investors of record on Friday, January 6th will be paid a dividend of $2.00 per share. The ex-dividend date is Thursday, January 5th. Landstar System’s payout ratio is presently 9.88%.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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