17 Jun Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by PNC Fina…
PNC Financial Services Group Inc. cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 38,665 shares of the transportation company’s stock after selling 1,761 shares during the period. PNC Financial Services Group Inc. owned about 0.10% of Landstar System worth $4,230,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in shares of Landstar System by 4.8% in the 4th quarter. FMR LLC now owns 908,274 shares of the transportation company’s stock valued at $86,895,000 after acquiring an additional 41,830 shares in the last quarter. Virtu Financial LLC bought a new stake in Landstar System during the 1st quarter valued at $459,000. Texas Permanent School Fund increased its stake in Landstar System by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 26,905 shares of the transportation company’s stock valued at $2,574,000 after purchasing an additional 1,049 shares in the last quarter. Stone Ridge Asset Management LLC increased its stake in Landstar System by 19.5% during the 4th quarter. Stone Ridge Asset Management LLC now owns 34,780 shares of the transportation company’s stock valued at $3,327,000 after purchasing an additional 5,675 shares in the last quarter. Finally, Eaton Vance Management increased its stake in Landstar System by 2.3% during the 4th quarter. Eaton Vance Management now owns 120,643 shares of the transportation company’s stock valued at $11,541,000 after purchasing an additional 2,701 shares in the last quarter. Hedge funds and other institutional investors own 98.66% of the company’s stock.
A number of research firms have issued reports on LSTR. BidaskClub raised shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Buckingham Research cut their price objective on shares of Landstar System from $115.00 to $114.00 and set a “neutral” rating on the stock in a report on Tuesday, April 2nd. Cowen reaffirmed a “market perform” rating and set a $115.00 price objective (up from $110.00) on shares of Landstar System in a report on Thursday, April 25th. Stifel Nicolaus boosted their price target 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. Finally, Credit Suisse Group cut their price target on shares of Landstar System from $112.00 to $104.00 and set a “neutral” rating on the stock in a report on Thursday, June 6th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $111.90.
LSTR stock traded down $1.49 during midday trading on Monday, hitting $102.76. 1,896 shares of the company’s stock were exchanged, compared to its average volume of 471,686. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.19 billion, a price-to-earnings ratio of 16.82, a price-to-earnings-growth ratio of 1.37 and a beta of 1.22. Landstar System, Inc. has a 1-year low of $90.23 and a 1-year high of $128.70.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.52 by $0.06. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Landstar System, Inc. will post 6.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Thursday, May 9th were issued a dividend of $0.165 per share. The ex-dividend date was Wednesday, May 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.64%. Landstar System’s payout ratio is 10.68%.
In other news, CMO Patrick J. O’malley sold 23,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the completion of the sale, the chief marketing officer now directly owns 20,929 shares in the company, valued at approximately $2,319,351.78. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Joseph J. Beacom sold 5,000 shares of the company’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $114.12, for a total value of $570,600.00. Following the sale, the chief operating officer now owns 45,924 shares of the company’s stock, valued at $5,240,846.88. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
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Landstar System 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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