32,963 Landstar System, Inc. $LSTR Shares Sold by Alps Advisors Inc.

Key Points

• Alps Advisors cut its Landstar stake by 43.2%, selling 32,963 shares in the third quarter and retaining 43,260 shares valued at about $7.3 million.
• Landstar reported quarterly EPS of $1.42, below the $1.67 consensus, while revenue of $1.51 billion slightly beat estimates and rose 25.4% year over year.
• CEO Frank A. Lonegro bought 5,000 shares, while analysts’ consensus rating remained Hold with an average price target of $182.33; the company also announced a $0.44 quarterly dividend.

Alps Advisors Inc. decreased its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 43.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,260 shares of the transportation company's stock after selling 32,963 shares during the quarter. Alps Advisors Inc. owned 0.13% of Landstar System worth $7,296,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new position in Landstar System during the second quarter worth $698,683,000. Bank of New York Mellon Corp bought a new stake in Landstar System during the second quarter valued at $68,507,000. Bank of America Corp DE bought a new stake in Landstar System during the second quarter valued at $51,340,000. Corient Private Wealth LP bought a new stake in Landstar System during the second quarter valued at $44,949,000. Finally, Jupiter Topco LLC bought a new stake in Landstar System during the second quarter valued at $44,195,000. 97.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Landstar System news, CEO Frank A. Lonegro purchased 5,000 shares of Landstar System stock in a transaction on Friday, October 30th. The stock was bought at an average price of $142.92 per share, for a total transaction of $714,600.00. Following the transaction, the chief executive officer owned 28,110 shares of the company's stock, valued at $4,017,481.20. The trade was a 21.64% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.74% of the stock is owned by insiders.

Landstar System Trading Down 1.6%

Shares of NASDAQ:LSTR opened at $143.34 on Friday. The company has a market cap of $4.83 billion, a PE ratio of 30.37 and a beta of 0.89. The company's 50-day moving average price is $166.65 and its 200 day moving average price is $176.39. Landstar System, Inc. has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its earnings results on Tuesday, October 27th. The transportation company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.25). The firm had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. Landstar System had a return on equity of 23.89% and a net margin of 3.03%. Landstar System's revenue for the quarter was up 25.4% on a year-over-year basis. During the same quarter last year, the company posted $1.22 EPS. Sell-side analysts anticipate that Landstar System, Inc. will post 5.90 earnings per share for the current year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 17th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.76 annualized dividend and a yield of 1.2%. Landstar System's payout ratio is presently 37.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on LSTR. Stifel Nicolaus dropped their target price on shares of Landstar System from $197.00 to $179.00 and set a "hold" rating on the stock in a report on Wednesday, October 28th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Landstar System in a report on Friday, September 11th. Truist Financial lowered their price objective on shares of Landstar System from $175.00 to $160.00 and set a "hold" rating for the company in a research report on Wednesday, October 28th. Robert W. Baird lowered their price objective on shares of Landstar System from $215.00 to $195.00 and set an "outperform" rating for the company in a research report on Wednesday, October 28th. Finally, Janney Montgomery Scott set a $182.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $182.33.

Landstar System Company Profile

Landstar System, Inc NASDAQ: LSTR is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar's services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.

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