Janus Henderson Group PLC trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 524,049 shares of the transportation company’s stock after selling 4,705 shares during the quarter. Janus Henderson Group PLC owned 1.27% of Landstar System worth $63,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. BlackRock Inc. grew its stake in Landstar System by 18.0% during the 2nd quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock worth $548,369,000 after buying an additional 764,662 shares during the last quarter. Victory Capital Management Inc. lifted its position in Landstar System by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock worth $167,005,000 after acquiring an additional 130,937 shares during the period. JPMorgan Chase & Co. lifted its position in Landstar System by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 991,473 shares of the transportation company’s stock worth $120,961,000 after acquiring an additional 39,994 shares during the period. Bank of New York Mellon Corp lifted its position in Landstar System by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 553,881 shares of the transportation company’s stock worth $60,484,000 after acquiring an additional 20,564 shares during the period. Finally, Wells Fargo & Company MN lifted its position in Landstar System by 1.1% during the 3rd quarter. Wells Fargo & Company MN now owns 529,927 shares of the transportation company’s stock worth $64,650,000 after acquiring an additional 5,732 shares during the period.
A number of analysts have commented on LSTR shares. BidaskClub raised Landstar System from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, August 15th. Wells Fargo & Co raised Landstar System from a “market perform” rating to an “outperform” rating and lowered their price target for the stock from $115.65 to $98.00 in a research report on Wednesday, August 22nd. ValuEngine raised Landstar System from a “hold” rating to a “buy” rating in a research report on Tuesday, September 11th. Wolfe Research cut Landstar System from a “peer perform” rating to an “underperform” rating in a research report on Friday, October 5th. Finally, Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, October 11th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. Landstar System presently has a consensus rating of “Hold” and an average price target of $117.00.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.03. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Landstar System had a return on equity of 33.82% and a net margin of 5.61%. As a group, equities research analysts expect that Landstar System, Inc. will post 6.08 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Tuesday, November 13th will be issued a $0.165 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.61%. Landstar System’s dividend payout ratio (DPR) is presently 17.60%.
In other news, COO Joseph J. Beacom sold 3,000 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $119.52, for a total value of $358,560.00. Following the completion of the transaction, the chief operating officer now owns 33,702 shares of the company’s stock, valued at approximately $4,028,063.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.00% of the company’s stock.
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About Landstar System
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, including third party logistics and less-than-truckload service providers.
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