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

Brown Brothers Harriman & Co. raised its stake in Landstar System, Inc. (NASDAQ:LSTR) by 2.3% during the third quarter, HoldingsChannel.com reports. The fund owned 3,608 shares of the transportation company’s stock after purchasing an additional 80 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Landstar System were worth $681,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Thrivent Financial for Lutherans increased its holdings in shares of Landstar System by 3,775.2% in the third quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock worth $63,243,000 after purchasing an additional 326,212 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Landstar System by 6.2% during the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after acquiring an additional 99,461 shares during the last quarter. Janus Henderson Group PLC grew its holdings in shares of Landstar System by 30.9% in the first quarter. Janus Henderson Group PLC now owns 180,955 shares of the transportation company’s stock valued at $34,880,000 after purchasing an additional 42,740 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Landstar System by 6.6% in the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after purchasing an additional 37,020 shares during the last quarter. Finally, Royce & Associates LP raised its stake in Landstar System by 11.4% during the third quarter. Royce & Associates LP now owns 331,464 shares of the transportation company’s stock valued at $62,604,000 after purchasing an additional 33,962 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LSTR. The Goldman Sachs Group dropped their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. Benchmark reissued a “hold” rating on shares of Landstar System in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price objective on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. UBS Group lifted their target price on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Finally, Evercore ISI decreased their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $174.25.

Landstar System Stock Up 1.4 %

NASDAQ:LSTR opened at $187.74 on Wednesday. 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 twelve month low of $165.39 and a twelve month high of $201.40. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The stock has a fifty day simple moving average of $184.00 and a 200-day simple moving average of $183.58.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.71 EPS. Analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 annualized dividend and a yield of 0.77%. Landstar System’s dividend payout ratio (DPR) is currently 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.