BlackRock Inc. lifted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 18.0% during the second quarter, HoldingsChannel reports. The firm owned 5,021,679 shares of the transportation company’s stock after purchasing an additional 764,662 shares during the quarter. BlackRock Inc. owned about 0.12% of Landstar System worth $548,369,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Point72 Asia Hong Kong Ltd lifted its position in shares of Landstar System by 890.7% during the first quarter. Point72 Asia Hong Kong Ltd now owns 1,070 shares of the transportation company’s stock worth $117,000 after purchasing an additional 962 shares in the last quarter. Atria Investments LLC acquired a new position in shares of Landstar System during the first quarter worth $202,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Landstar System during the second quarter worth $205,000. Hartford Investment Management Co. acquired a new position in shares of Landstar System during the second quarter worth $208,000. Finally, Mount Yale Investment Advisors LLC acquired a new position in shares of Landstar System during the first quarter worth $234,000. 99.69% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ:LSTR opened at $122.70 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.82 and a quick ratio of 1.82. The firm has a market capitalization of $4.76 billion, a P/E ratio of 32.56, a P/E/G ratio of 1.41 and a beta of 0.87. Landstar System, Inc. has a 12-month low of $92.55 and a 12-month high of $123.00.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.02). The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 31.06% and a net margin of 5.38%. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. equities research analysts predict that Landstar System, Inc. will post 6.06 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 13th were paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Friday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.15. Landstar System’s payout ratio is 17.60%.
A number of research firms have recently commented on LSTR. BidaskClub cut shares of Landstar System from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 13th. Cowen reissued a “market perform” rating and set a $113.00 target price (up from $108.00) on shares of Landstar System in a research report on Thursday, July 26th. Susquehanna Bancshares cut shares of Landstar System from a “positive” rating to a “neutral” rating in a research report on Friday, July 13th. Zacks Investment Research cut shares of Landstar System from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 6th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $123.00 target price on shares of Landstar System in a research report on Wednesday, June 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the company. Landstar System has a consensus rating of “Buy” and a consensus price target of $119.25.
In related news, CMO Patrick J. O’malley sold 1,812 shares of Landstar System stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $115.62, for a total value of $209,503.44. Following the completion of the sale, the chief marketing officer now owns 32,830 shares in the company, valued at $3,795,804.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.
About Landstar System
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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