First Citizens Bank & Trust Co. raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 37.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,880 shares of the transportation company’s stock after buying an additional 1,050 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Landstar System were worth $424,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Intercontinental Wealth Advisors LLC bought a new stake in Landstar System during the 4th quarter worth approximately $50,000. Essex Savings Bank bought a new stake in Landstar System during the 4th quarter worth approximately $67,000. Penserra Capital Management LLC bought a new stake in Landstar System during the 4th quarter worth approximately $79,000. Quantamental Technologies LLC bought a new stake in Landstar System during the 4th quarter worth approximately $116,000. Finally, Tower Research Capital LLC TRC grew its holdings in Landstar System by 205.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,471 shares of the transportation company’s stock worth $179,000 after acquiring an additional 990 shares during the last quarter. 98.65% of the stock is currently owned by hedge funds and other institutional investors.
Landstar System stock opened at $111.64 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.81 and a current ratio of 1.81. Landstar System, Inc. has a 12-month low of $90.23 and a 12-month high of $128.70. The firm has a market cap of $4.52 billion, a P/E ratio of 18.06, a P/E/G ratio of 1.46 and a beta of 1.20.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, January 30th. The transportation company reported $1.68 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.58 by $0.10. Landstar System had a net margin of 5.53% and a return on equity of 36.70%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the previous year, the company earned $2.51 EPS. Landstar System’s quarterly revenue was up 12.4% compared to the same quarter last year. On average, equities research analysts expect that Landstar System, Inc. will post 6.41 EPS for the current fiscal year.
In related news, CFO L Kevin Stout sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $110.99, for a total transaction of $665,940.00. Following the transaction, the chief financial officer now owns 47,204 shares in the company, valued at approximately $5,239,171.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James B. Gattoni sold 19,481 shares of the business’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $110.68, for a total transaction of $2,156,157.08. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.
A number of brokerages have recently issued reports on LSTR. Buckingham Research dropped their price target on shares of Landstar System from $115.00 to $114.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 2nd. BidaskClub upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Saturday, March 30th. Cowen restated a “hold” rating and issued a $100.00 price target on shares of Landstar System in a research report on Wednesday, January 30th. Finally, Zacks Investment Research downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $111.70.
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, such as third party logistics and less-than-truckload service providers.
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