Landstar System, Inc. (NASDAQ:LSTR) Stock Position Cut by Apollon Wealth Management LLC

Apollon Wealth Management LLC decreased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,972 shares of the transportation company’s stock after selling 84 shares during the period. Apollon Wealth Management LLC’s holdings in Landstar System were worth $561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in LSTR. WCM Investment Management LLC boosted its holdings in shares of Landstar System by 2.9% in the third quarter. WCM Investment Management LLC now owns 160,327 shares of the transportation company’s stock valued at $29,970,000 after acquiring an additional 4,558 shares in the last quarter. Versor Investments LP bought a new position in Landstar System during the 3rd quarter valued at $548,000. Equitable Trust Co. boosted its stake in Landstar System by 2.2% during the 3rd quarter. Equitable Trust Co. now owns 3,250 shares of the transportation company’s stock valued at $614,000 after purchasing an additional 71 shares in the last quarter. Olympiad Research LP acquired a new position in shares of Landstar System during the 3rd quarter valued at $205,000. Finally, QRG Capital Management Inc. bought a new stake in shares of Landstar System in the 3rd quarter worth $207,000. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Performance

LSTR stock opened at $182.82 on Friday. The firm has a 50 day simple moving average of $183.98 and a 200 day simple moving average of $183.38. Landstar System, Inc. has a 52 week low of $165.39 and a 52 week high of $201.40. The stock 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 (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the firm earned $1.71 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. Research analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Announces Dividend

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. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Tuesday, November 19th. Landstar System’s dividend payout ratio (DPR) is presently 24.70%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stephens lowered their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Raymond James cut shares of Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday. UBS Group raised their target price on shares of Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group reduced their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. Based on data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $174.25.

Insider Activity

In related news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.00% of the stock is owned by corporate 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.