Capital Management Associates NY bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 3,600 shares of the transportation company’s stock, valued at approximately $439,000.
A number of other hedge funds also recently modified their holdings of LSTR. Synovus Financial Corp grew its stake in Landstar System by 115.5% in the 3rd quarter. Synovus Financial Corp now owns 1,110 shares of the transportation company’s stock worth $134,000 after acquiring an additional 595 shares in the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Landstar System in the 2nd quarter worth about $205,000. Culbertson A N & Co. Inc. bought a new position in Landstar System in the 3rd quarter worth about $207,000. Hartford Investment Management Co. bought a new position in Landstar System in the 2nd quarter worth about $208,000. Finally, NumerixS Investment Technologies Inc grew its stake in Landstar System by 216.7% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the transportation company’s stock worth $209,000 after acquiring an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.
In other news, COO Joseph J. Beacom sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total value of $358,560.00. Following the completion of the sale, the chief operating officer now owns 33,702 shares of the company’s stock, valued at approximately $4,028,063.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Shares of LSTR opened at $104.23 on Friday. Landstar System, Inc. has a fifty-two week low of $94.80 and a fifty-two week high of $128.70. The company has a market capitalization of $4.38 billion, a PE ratio of 27.79, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.94 and a quick ratio of 1.82.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.63 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.03. Landstar System had a net margin of 5.61% and a return on equity of 33.82%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. As a group, equities analysts expect that Landstar System, Inc. will post 6.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Tuesday, November 13th will be given a $0.165 dividend. The ex-dividend date is Friday, November 9th. This represents a $0.66 annualized dividend and a dividend yield of 0.63%. Landstar System’s payout ratio is presently 17.60%.
A number of equities analysts have commented on the stock. Susquehanna Bancshares downgraded shares of Landstar System from a “positive” rating to a “neutral” rating in a research note on Friday, July 13th. BidaskClub upgraded shares of Landstar System from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 8th. Zacks Investment Research downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. ValuEngine upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Tuesday, September 11th. Finally, Morgan Stanley set a $96.00 price target on shares of Landstar System and gave the stock a “sell” rating in a research report on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $117.00.
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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