Tidal Investments LLC Has $1.90 Million Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Tidal Investments LLC raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 9.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,053 shares of the transportation company’s stock after acquiring an additional 857 shares during the period. Tidal Investments LLC’s holdings in Landstar System were worth $1,899,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Quest Partners LLC acquired a new position in shares of Landstar System in the second quarter valued at $73,000. Whittier Trust Co. of Nevada Inc. increased its holdings in Landstar System by 431.3% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after buying an additional 358 shares during the period. Point72 DIFC Ltd acquired a new position in shares of Landstar System in the 2nd quarter valued at $106,000. GAMMA Investing LLC lifted its holdings in shares of Landstar System by 14.1% during the 3rd quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after acquiring an additional 70 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Landstar System during the 2nd quarter valued at about $131,000. Institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of several recent research reports. UBS Group increased their price target on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Susquehanna dropped 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. JPMorgan Chase & Co. boosted their price target on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Evercore ISI lowered their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $174.25.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by company insiders.

Landstar System Stock Down 0.9 %

Shares of NASDAQ:LSTR opened at $183.61 on Tuesday. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40. The firm has a market cap of $6.49 billion, a P/E ratio of 31.49 and a beta of 0.82. The company has a quick ratio of 2.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.04. The company’s 50-day moving average price is $184.61 and its two-hundred day moving average price is $184.01.

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 analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business earned $1.71 EPS. The business’s revenue for the quarter was down 5.8% on a year-over-year basis. As a group, research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be issued a $2.00 dividend. This is a boost from Landstar System’s previous special dividend of $1.50. The ex-dividend date of this dividend is Tuesday, January 7th. 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.