Healthcare of Ontario Pension Plan Trust Fund Buys New Shares in Landstar System, Inc. (NASDAQ:LSTR)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,300 shares of the transportation company’s stock, valued at approximately $1,190,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Townsquare Capital LLC purchased a new position in shares of Landstar System during the 3rd quarter valued at about $351,000. BNP Paribas Financial Markets raised its stake in shares of Landstar System by 509.3% during the third quarter. BNP Paribas Financial Markets now owns 55,048 shares of the transportation company’s stock worth $10,397,000 after acquiring an additional 46,014 shares in the last quarter. FMR LLC lifted its holdings in shares of Landstar System by 8.6% in the 3rd quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock worth $30,639,000 after acquiring an additional 12,894 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Landstar System by 191.4% in the 3rd quarter. Bank of Montreal Can now owns 25,654 shares of the transportation company’s stock valued at $4,796,000 after purchasing an additional 16,850 shares in the last quarter. Finally, Brown Brothers Harriman & Co. grew its holdings in shares of Landstar System by 2.3% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 3,608 shares of the transportation company’s stock valued at $681,000 after purchasing an additional 80 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the sale, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LSTR. UBS Group upped their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. TD Cowen reduced their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Stephens cut their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Landstar System Trading Down 0.2 %

Shares of LSTR opened at $185.92 on Monday. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year 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 firm’s 50-day moving average price is $184.24 and its 200-day moving average price is $183.62. The firm has a market capitalization of $6.57 billion, a price-to-earnings ratio of 31.89 and a beta of 0.81.

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

Landstar System Dividend Announcement

The company also recently declared 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 payout ratio is 24.70%.

Landstar System 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.