61,782 Shares in Landstar System, Inc. (NASDAQ:LSTR) Acquired by Moore Capital Management LP

Moore Capital Management LP acquired a new position in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 61,782 shares of the transportation company’s stock, valued at approximately $8,919,000. Moore Capital Management LP owned approximately 0.17% of Landstar System as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LSTR. Boston Partners grew its stake in Landstar System by 28.5% in the third quarter. Boston Partners now owns 1,664,888 shares of the transportation company’s stock worth $240,541,000 after purchasing an additional 368,802 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Landstar System during the 1st quarter valued at $26,416,000. Barclays PLC boosted its position in Landstar System by 774.5% during the 3rd quarter. Barclays PLC now owns 118,717 shares of the transportation company’s stock valued at $17,140,000 after acquiring an additional 105,141 shares in the last quarter. Raymond James & Associates boosted its position in Landstar System by 229.1% during the 3rd 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 in the last quarter. Finally, Northern Trust Corp boosted its position in Landstar System by 21.5% during the 1st 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 in the last quarter. Institutional investors own 98.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LSTR shares. Morgan Stanley raised Landstar System from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $120.00 to $140.00 in a research report on Monday, January 9th. Stephens increased their price objective on Landstar System from $180.00 to $195.00 and gave the company an “equal weight” rating in a report on Friday, February 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Landstar System from $189.00 to $182.00 in a report on Monday, November 28th. Raymond James upgraded Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 price objective for the company in a report on Monday, February 6th. Finally, Wells Fargo & Company increased their price objective on Landstar System from $142.00 to $155.00 and gave the company an “equal weight” rating in a report on Wednesday, January 4th. Ten research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $164.82.

Landstar System Price Performance

NASDAQ:LSTR opened at $180.67 on Thursday. Landstar System, Inc. has a 52 week low of $137.15 and a 52 week high of $188.46. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $6.49 billion, a PE ratio of 15.38, a price-to-earnings-growth ratio of 1.70 and a beta of 0.90. The stock’s 50-day moving average price is $175.49 and its 200-day moving average price is $162.84.

Landstar System (NASDAQ:LSTR – Get Rating) last posted its quarterly earnings data on Wednesday, February 1st. The transportation company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by ($0.02). Landstar System had a return on equity of 49.62% and a net margin of 5.79%. The firm had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.76 billion. During the same quarter in the previous year, the firm posted $2.99 earnings per share. The company’s quarterly revenue was down 13.9% on a year-over-year basis. As a group, equities analysts expect that Landstar System, Inc. will post 8.87 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 10th. Shareholders of record on Monday, February 13th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend is Friday, February 10th. Landstar System’s dividend payout ratio (DPR) is 10.21%.

Insiders Place Their Bets

In other Landstar System news, VP Ricardo S. Coro sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $184.63, for a total value of $553,890.00. Following the transaction, the vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $4,092,693.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Landstar System news, VP Ricardo S. Coro sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The shares were sold at an average price of $184.63, for a total value of $553,890.00. Following the transaction, the vice president now directly owns 22,167 shares of the company’s stock, valued at approximately $4,092,693.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Joseph J. Beacom sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 9th. The stock was sold at an average price of $182.94, for a total transaction of $1,280,580.00. Following the completion of the transaction, the chief operating officer now directly owns 17,578 shares in the company, valued at $3,215,719.32. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

About Landstar System

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Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.