19 May Landstar System, Inc. (NASDAQ:LSTR) Position Trimmed by Str…
Strs Ohio lessened its position in Landstar System, Inc. (NASDAQ:LSTR) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,789 shares of the transportation company’s stock after selling 256 shares during the period. Strs Ohio’s holdings in Landstar System were worth $305,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in LSTR. Stock Yards Bank & Trust Co. raised its position in shares of Landstar System by 27.6% in the 1st quarter. Stock Yards Bank & Trust Co. now owns 3,700 shares of the transportation company’s stock valued at $405,000 after buying an additional 800 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Landstar System by 2.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 12,800 shares of the transportation company’s stock valued at $1,400,000 after buying an additional 300 shares in the last quarter. Meeder Asset Management Inc. increased its position in Landstar System by 43.1% during the 1st quarter. Meeder Asset Management Inc. now owns 15,214 shares of the transportation company’s stock worth $1,665,000 after purchasing an additional 4,583 shares in the last quarter. BTIM Corp. increased its position in Landstar System by 1.9% during the 1st quarter. BTIM Corp. now owns 206,371 shares of the transportation company’s stock worth $22,575,000 after purchasing an additional 3,753 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in Landstar System during the 1st quarter worth approximately $459,000. 98.65% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on the stock. BidaskClub cut shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Buckingham Research lowered their price objective on shares of Landstar System from $115.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. Cowen reiterated a “market perform” rating and set a $115.00 price objective (up from $110.00) on shares of Landstar System in a research report on Thursday, April 25th. Finally, Stifel Nicolaus boosted their target price on shares of Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Landstar System has a consensus rating of “Hold” and an average target price of $113.22.
Landstar System stock opened at $106.67 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System, Inc. has a 12-month low of $90.23 and a 12-month high of $128.70. The firm has a market cap of $4.28 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.39 and a beta of 1.17.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.06. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company earned $1.37 EPS. Landstar System’s quarterly revenue was down 1.4% compared to the same quarter last year. On average, equities research analysts expect that Landstar System, Inc. will post 6.41 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.66 annualized dividend and a yield of 0.62%. Landstar System’s payout ratio is 10.68%.
In other news, CEO James B. Gattoni sold 19,481 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $110.68, for a total value of $2,156,157.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Joseph J. Beacom sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $114.12, for a total transaction of $570,600.00. Following the completion of the sale, the chief operating officer now owns 45,924 shares of the company’s stock, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,481 shares of company stock worth $5,941,557. Corporate insiders own 1.00% of the company’s stock.
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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, such as third party logistics and less-than-truckload service providers.
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