Bailard Inc. lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 38.4% in the 3rd quarter, Holdings Channel reports. The firm owned 12,928 shares of the transportation company’s stock after buying an additional 3,589 shares during the quarter. Bailard Inc.’s holdings in Landstar System were worth $1,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the company. Gideon Capital Advisors Inc. increased its stake in shares of Landstar System by 21.5% during the 2nd quarter. Gideon Capital Advisors Inc. now owns 2,705 shares of the transportation company’s stock worth $295,000 after purchasing an additional 478 shares during the last quarter. BB&T Corp increased its stake in shares of Landstar System by 15.7% during the 3rd quarter. BB&T Corp now owns 3,722 shares of the transportation company’s stock worth $454,000 after purchasing an additional 504 shares during the last quarter. OppenheimerFunds Inc. increased its stake in shares of Landstar System by 5.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 10,570 shares of the transportation company’s stock worth $1,154,000 after purchasing an additional 593 shares during the last quarter. Synovus Financial Corp increased its stake in shares of Landstar System by 115.5% during the 3rd quarter. Synovus Financial Corp now owns 1,110 shares of the transportation company’s stock worth $134,000 after purchasing an additional 595 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of Landstar System by 4.1% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,380 shares of the transportation company’s stock worth $1,789,000 after purchasing an additional 650 shares during the last quarter. Institutional investors own 99.89% of the company’s stock.

LSTR opened at $101.30 on Friday. The company has a market capitalization of $4.20 billion, a P/E ratio of 27.01, a price-to-earnings-growth ratio of 1.24 and a beta of 1.13. Landstar System, Inc. has a 12 month low of $96.91 and a 12 month high of $128.70. The company has a quick ratio of 1.94, a current ratio of 1.94 and a debt-to-equity ratio of 0.10.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, October 24th. The transportation company reported $1.63 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.03. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. Landstar System had a net margin of 5.61% and a return on equity of 33.82%. On average, equities analysts expect that Landstar System, Inc. will post 6.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Tuesday, November 13th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 9th. Landstar System’s payout ratio is 17.60%.

Several brokerages have recently issued reports on LSTR. BidaskClub upgraded shares of Landstar System from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, August 15th. Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Wells Fargo & Co raised shares of Landstar System from a “market perform” rating to an “outperform” rating and cut their price objective for the stock from $115.65 to $98.00 in a report on Wednesday, August 22nd. Finally, Goldman Sachs Group downgraded shares of Landstar System from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $143.00 to $123.00 in a report on Thursday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. Landstar System presently has a consensus rating of “Hold” and a consensus target price of $117.00.

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Landstar System Company 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, including third party logistics and less-than-truckload service providers.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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