BNP Paribas Arbitrage SA lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 25.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,774 shares of the transportation company’s stock after selling 5,093 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Landstar System were worth $1,472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the company. Chicago Equity Partners LLC increased its position in Landstar System by 22.7% during the second quarter. Chicago Equity Partners LLC now owns 48,790 shares of the transportation company’s stock valued at $4,176,000 after acquiring an additional 9,020 shares during the last quarter. Bank of New York Mellon Corp increased its position in Landstar System by 4.2% during the second quarter. Bank of New York Mellon Corp now owns 551,235 shares of the transportation company’s stock valued at $47,184,000 after acquiring an additional 22,334 shares during the last quarter. Crawford Investment Counsel Inc. increased its position in Landstar System by 8.5% during the second quarter. Crawford Investment Counsel Inc. now owns 42,028 shares of the transportation company’s stock valued at $3,598,000 after acquiring an additional 3,280 shares during the last quarter. Great Lakes Advisors LLC increased its position in Landstar System by 22.8% during the second quarter. Great Lakes Advisors LLC now owns 25,085 shares of the transportation company’s stock valued at $2,147,000 after acquiring an additional 4,655 shares during the last quarter. Finally, Cubist Systematic Strategies LLC increased its position in Landstar System by 109.2% during the second quarter. Cubist Systematic Strategies LLC now owns 4,328 shares of the transportation company’s stock valued at $370,000 after acquiring an additional 2,259 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

In other Landstar System news, VP Michael K. Kneller sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the sale, the vice president now owns 22,153 shares of the company’s stock, valued at $2,193,147. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James B. Gattoni sold 15,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $98.72, for a total value of $1,480,800.00. Following the sale, the chief executive officer now directly owns 69,339 shares of the company’s stock, valued at approximately $6,845,146.08. The disclosure for this sale can be found here. Insiders have sold 39,805 shares of company stock valued at $3,929,828 in the last three months. 1.00% of the stock is currently owned by corporate insiders.

Shares of Landstar System, Inc. (NASDAQ LSTR) opened at $98.00 on Monday. Landstar System, Inc. has a fifty-two week low of $80.00 and a fifty-two week high of $102.55. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $4,110.00, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.97 and a beta of 0.80.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The business had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. Landstar System’s revenue for the quarter was up 19.7% on a year-over-year basis. equities research analysts expect that Landstar System, Inc. will post 3.68 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, November 13th. Landstar System’s dividend payout ratio is presently 11.05%.

LSTR has been the subject of a number of research reports. Deutsche Bank AG cut Landstar System from a “buy” rating to a “hold” rating and reduced their price objective for the company from $97.00 to $87.00 in a research report on Monday, July 31st. Stifel Nicolaus upgraded Landstar System from a “hold” rating to a “buy” rating and upped their price objective for the company from $87.00 to $95.00 in a research report on Monday, July 31st. Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Morgan Stanley upped their price objective on Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, August 7th. Finally, Cowen Inc reiterated a “hold” rating and set a $86.00 price objective on shares of Landstar System in a research report on Monday, August 28th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. Landstar System presently has an average rating of “Hold” and an average target price of $96.67.

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Landstar System Company Profile

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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

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