Fulton Bank N.A. Grows Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Fulton Bank N.A. increased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 10.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,100 shares of the transportation company’s stock after buying an additional 204 shares during the period. Fulton Bank N.A.’s holdings in Landstar System were worth $361,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Verition Fund Management LLC grew its stake in shares of Landstar System by 28.1% in the third quarter. Verition Fund Management LLC now owns 59,005 shares of the transportation company’s stock worth $11,144,000 after acquiring an additional 12,931 shares during the last quarter. ING Groep NV bought a new position in Landstar System in the 3rd quarter worth about $1,228,000. Point72 Asia Singapore Pte. Ltd. grew its position in Landstar System by 419.3% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,682 shares of the transportation company’s stock valued at $695,000 after purchasing an additional 2,973 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Landstar System by 3,775.2% during the 3rd quarter. Thrivent Financial for Lutherans now owns 334,853 shares of the transportation company’s stock valued at $63,243,000 after purchasing an additional 326,212 shares in the last quarter. Finally, FMR LLC raised its holdings in Landstar System by 8.6% in the third quarter. FMR LLC now owns 162,222 shares of the transportation company’s stock worth $30,639,000 after buying an additional 12,894 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of recent analyst reports. UBS Group increased their price target on shares of Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. TD Cowen reduced their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research report on Wednesday, October 9th. Finally, Stephens decreased their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $171.45.

Landstar System Stock Down 1.3 %

Shares of LSTR stock opened at $165.68 on Friday. The company has a 50 day simple moving average of $180.53 and a two-hundred day simple moving average of $182.82. The stock has a market cap of $5.85 billion, a P/E ratio of 28.42 and a beta of 0.83. Landstar System, Inc. has a 12 month low of $165.31 and a 12 month high of $200.43. 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 (NASDAQ:LSTR) last announced its 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). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the business posted $1.71 earnings per share. Landstar System’s revenue for the quarter was down 5.8% compared to the same quarter last year. On average, research analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Investors of record on Tuesday, January 7th will be paid a dividend of $2.00 per share. The ex-dividend date is Tuesday, January 7th. This is an increase from Landstar System’s previous special dividend of $1.50. Landstar System’s payout ratio is 24.70%.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the sale, the chief financial officer now owns 14,083 shares in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 1.00% of the stock is currently owned by insiders.

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, such as third party logistics and less-than-truckload services.