The Manufacturers Life Insurance Company lifted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,498 shares of the transportation company’s stock after buying an additional 1,232 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.15% of Landstar System worth $5,264,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Cubist Systematic Strategies LLC grew its stake 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 in the last quarter. BlueCrest Capital Management Ltd bought a new stake in Landstar System during the second quarter valued at approximately $202,000. Gotham Asset Management LLC bought a new stake in Landstar System during the second quarter valued at approximately $5,981,000. Janus Henderson Group PLC bought a new stake in Landstar System during the second quarter valued at approximately $57,249,000. Finally, Shelton Capital Management bought a new stake in Landstar System during the second quarter valued at approximately $273,000. 99.05% of the stock is currently owned by institutional investors and hedge funds.
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In other news, COO Joseph J. Beacom sold 9,805 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total transaction of $964,027.60. Following the transaction, the chief operating officer now owns 55,649 shares in the company, valued at $5,471,409.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO James B. Gattoni sold 15,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 69,339 shares in the company, valued at approximately $6,845,146.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 39,805 shares of company stock valued at $3,929,828. 1.00% of the stock is owned by corporate insiders.
Several brokerages have issued reports on LSTR. Buckingham Research began coverage on shares of Landstar System in a research report on Friday, October 20th. They set a “neutral” rating and a $103.00 target price for the company. Cowen and Company reaffirmed a “hold” rating and issued a $97.00 target price on shares of Landstar System in a research note on Friday, October 27th. Zacks Investment Research downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Morgan Stanley boosted their price objective on shares of Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a research report on Monday, August 7th. Finally, Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $88.00 to $103.00 in a research report on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $96.67.
Shares of Landstar System, Inc. (NASDAQ LSTR) traded down $0.55 on Tuesday, reaching $96.35. 321,400 shares of the company’s stock were exchanged, compared to its average volume of 299,364. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.96 and a current ratio of 1.96. Landstar System, Inc. has a twelve month low of $79.60 and a twelve month high of $102.55. The stock has a market cap of $4,030.00, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.95 and a beta of 0.80.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. The firm had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. equities research analysts expect that Landstar System, Inc. will post 3.68 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 14th will be given a $0.10 dividend. The ex-dividend date is Monday, November 13th. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. Landstar System’s dividend payout ratio is presently 11.05%.
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.
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