SG Americas Securities LLC grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 593.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 54,343 shares of the transportation company’s stock after purchasing an additional 46,504 shares during the period. SG Americas Securities LLC owned about 0.13% of Landstar System worth $5,934,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Dupont Capital Management Corp purchased a new stake in shares of Landstar System during the first quarter valued at $3,961,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Landstar System by 5.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 311,202 shares of the transportation company’s stock valued at $34,124,000 after purchasing an additional 15,518 shares during the last quarter. Koch Industries Inc. raised its position in Landstar System by 57.7% during the first quarter. Koch Industries Inc. now owns 6,521 shares of the transportation company’s stock valued at $715,000 after buying an additional 2,385 shares during the period. Virginia Retirement Systems ET AL acquired a new position in Landstar System during the first quarter valued at $493,000. Finally, Point72 Asset Management L.P. acquired a new position in Landstar System during the first quarter valued at $6,053,000. 97.30% of the stock is owned by institutional investors and hedge funds.
Shares of LSTR stock opened at $114.75 on Friday. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.10. Landstar System, Inc. has a fifty-two week low of $80.00 and a fifty-two week high of $118.60. The stock has a market capitalization of $4.73 billion, a price-to-earnings ratio of 30.60, a PEG ratio of 1.41 and a beta of 0.84.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, July 25th. The transportation company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.02). Landstar System had a return on equity of 31.06% and a net margin of 5.38%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. equities research analysts expect that Landstar System, Inc. will post 6.05 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Monday, August 13th will be given a $0.165 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 0.58%. The ex-dividend date is Friday, August 10th. Landstar System’s dividend payout ratio is presently 17.60%.
In other Landstar System news, CMO Patrick J. O’malley sold 1,812 shares of the company’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $115.62, for a total value of $209,503.44. Following the transaction, the chief marketing officer now directly owns 32,830 shares of the company’s stock, valued at approximately $3,795,804.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
Several research firms recently weighed in on LSTR. Stifel Nicolaus began coverage on Landstar System in a research report on Tuesday, June 19th. They set a “hold” rating and a $123.00 price target on the stock. BidaskClub raised Landstar System from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. Zacks Investment Research lowered Landstar System from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Susquehanna Bancshares lowered Landstar System from a “positive” rating to a “neutral” rating in a research report on Friday, July 13th. Finally, Cowen reissued a “market perform” rating and set a $113.00 price target (up from $108.00) on shares of Landstar System in a research report on Thursday, July 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $119.25.
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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