Landstar System, Inc. (NASDAQ:LSTR) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC lifted its position in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,550 shares of the transportation company’s stock after purchasing an additional 216 shares during the period. MML Investors Services LLC’s holdings in Landstar System were worth $368,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Boston Partners increased its stake in shares of 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 buying an additional 368,802 shares during the last quarter. Renaissance Technologies LLC bought a new stake in shares of Landstar System in the first quarter worth $26,416,000. Barclays PLC increased its stake in shares of Landstar System by 774.5% in the third quarter. Barclays PLC now owns 118,717 shares of the transportation company’s stock worth $17,140,000 after buying an additional 105,141 shares during the last quarter. Raymond James & Associates increased its stake 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 purchasing an additional 103,440 shares during the last quarter. Finally, Northern Trust Corp increased its stake 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 purchasing an additional 98,958 shares during the last quarter. 98.90% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

LSTR stock opened at $180.67 on Thursday. The company has a market capitalization of $6.49 billion, a P/E ratio of 15.38, a PEG ratio of 1.70 and a beta of 0.90. The company has a 50-day simple moving average of $175.49 and a 200 day simple moving average of $162.84. Landstar System, Inc. has a fifty-two week low of $137.15 and a fifty-two 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.

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 for the quarter, missing the consensus estimate of $2.62 by ($0.02). The company had revenue of $1.67 billion during the quarter, compared to analyst estimates of $1.76 billion. Landstar System had a return on equity of 49.62% and a net margin of 5.79%. The business’s revenue for the quarter was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.99 EPS. Sell-side analysts predict that Landstar System, Inc. will post 8.87 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

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

Insider Buying and Selling at Landstar System

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LSTR. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Landstar System from $189.00 to $182.00 in a research note on Monday, November 28th. Raymond James upgraded shares of Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 target price for the company in a research note on Monday, February 6th. Robert W. Baird boosted their target price on shares of Landstar System from $160.00 to $180.00 in a research note on Friday, February 3rd. Stephens boosted their target price on shares of Landstar System from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Finally, Morgan Stanley upgraded shares of Landstar System from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $120.00 to $140.00 in a research report on Monday, January 9th. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Landstar System presently has an average rating of “Hold” and a consensus target price of $164.82.

Landstar System Company Profile

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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.