ING Groep NV Invests $1.23 Million in Landstar System, Inc. (NASDAQ:LSTR)

ING Groep NV purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the third quarter, Holdings Channel.com reports. The fund purchased 6,500 shares of the transportation company’s stock, valued at approximately $1,228,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Landstar System by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock worth $670,812,000 after buying an additional 25,387 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Landstar System by 125.4% during the 1st quarter. Tidal Investments LLC now owns 12,796 shares of the transportation company’s stock worth $2,467,000 after buying an additional 7,118 shares in the last quarter. Comerica Bank raised its holdings in shares of Landstar System by 18.5% during the 1st quarter. Comerica Bank now owns 31,154 shares of the transportation company’s stock worth $6,005,000 after buying an additional 4,853 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Landstar System by 362.6% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 4,145 shares of the transportation company’s stock worth $765,000 after buying an additional 3,249 shares in the last quarter. Finally, Algert Global LLC raised its holdings in shares of Landstar System by 7.5% during the 2nd quarter. Algert Global LLC now owns 39,929 shares of the transportation company’s stock worth $7,366,000 after buying an additional 2,798 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total transaction of $184,320.00. Following the sale, the chief financial officer now 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.00% of the stock is owned by corporate insiders.

Landstar System Trading Down 2.4 %

Shares of LSTR stock opened at $182.82 on Monday. The stock has a market cap of $6.46 billion, a price-to-earnings ratio of 31.36 and a beta of 0.81. The stock has a 50-day moving average of $183.98 and a 200-day moving average of $183.44. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 1-year low of $165.39 and a 1-year high of $201.40.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results 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). The company had revenue of $1.21 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.71 EPS. On average, equities research analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 annualized dividend and a dividend yield of 0.79%. Landstar System’s payout ratio is 24.70%.

Analyst Ratings Changes

A number of research firms have recently commented on LSTR. Stephens lowered their price target on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Susquehanna lowered their target price on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, November 1st. UBS Group upped 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. Stifel Nicolaus lowered their target price on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Raymond James cut Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus target price of $174.25.

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.