Venturi Wealth Management LLC Sells 358 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Venturi Wealth Management LLC lessened its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 70.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 150 shares of the transportation company’s stock after selling 358 shares during the period. Venturi Wealth Management LLC’s holdings in Landstar System were worth $28,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its position in shares of Landstar System by 108.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after purchasing an additional 74 shares in the last quarter. Quest Partners LLC acquired a new stake in Landstar System in the second quarter valued at approximately $73,000. Mather Group LLC. increased its holdings in shares of Landstar System by 183.5% during the second quarter. Mather Group LLC. now owns 394 shares of the transportation company’s stock valued at $76,000 after acquiring an additional 255 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its position in shares of Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock worth $83,000 after purchasing an additional 358 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in shares of Landstar System by 58.1% in the 2nd quarter. GAMMA Investing LLC now owns 498 shares of the transportation company’s stock worth $92,000 after purchasing an additional 183 shares in the last quarter. 97.95% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on LSTR. JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Evercore ISI cut their price target on Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. Susquehanna lowered their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a research report on Wednesday, July 31st. Finally, TD Cowen lowered their price target on Landstar System from $176.00 to $174.00 and set a “hold” 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 assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $174.25.

Landstar System Price Performance

LSTR opened at $182.82 on Friday. The firm has a market cap of $6.46 billion, a P/E ratio of 31.36 and a beta of 0.81. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System, Inc. has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The firm has a 50-day moving average of $183.98 and a 200 day moving average of $183.38.

Landstar System (NASDAQ:LSTR) last posted 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). 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 last year, the firm posted $1.71 EPS. The company’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 EPS for the current year.

Landstar System Dividend Announcement

The company also recently declared 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. The ex-dividend date 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%.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now owns 14,083 shares in the company, valued at $2,595,778.56. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.