Huntington National Bank Grows Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Huntington National Bank boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 11.5% during the third quarter, Holdings Channel reports. The institutional investor owned 924 shares of the transportation company’s stock after buying an additional 95 shares during the period. Huntington National Bank’s holdings in Landstar System were worth $175,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Landstar System by 108.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after acquiring an additional 74 shares during the last quarter. Quest Partners LLC purchased a new position in Landstar System during the second quarter worth approximately $73,000. Mather Group LLC. boosted its holdings in shares of Landstar System by 183.5% in the 2nd quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock valued at $76,000 after purchasing an additional 255 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Landstar System by 431.3% during 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. Finally, GAMMA Investing LLC increased its holdings in shares of Landstar System by 58.1% during the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on LSTR shares. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stephens cut their price target 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. The Goldman Sachs Group decreased 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. Finally, UBS Group raised their target price on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have given a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $174.25.

Landstar System Stock Performance

Shares of LSTR stock opened at $182.82 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The company’s fifty day moving average price is $183.98 and its two-hundred day moving average price is $183.44. The firm has a market capitalization of $6.46 billion, a P/E ratio of 31.36 and a beta of 0.81. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40.

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

Landstar System Announces Dividend

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

Insider Transactions at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.00% of the company’s stock.

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.