MERIAN GLOBAL INVESTORS UK Ltd increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.4% in the 1st quarter, HoldingsChannel.com reports. The firm owned 630,723 shares of the transportation company’s stock after acquiring an additional 26,372 shares during the quarter. MERIAN GLOBAL INVESTORS UK Ltd’s holdings in Landstar System were worth $68,994,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of LSTR. FMR LLC lifted its holdings in shares of Landstar System by 4.8% in the fourth quarter. FMR LLC now owns 908,274 shares of the transportation company’s stock worth $86,895,000 after acquiring an additional 41,830 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Landstar System in the first quarter worth about $459,000. Texas Permanent School Fund lifted its holdings in shares of Landstar System by 4.1% in the fourth quarter. Texas Permanent School Fund now owns 26,905 shares of the transportation company’s stock worth $2,574,000 after acquiring an additional 1,049 shares during the last quarter. Stone Ridge Asset Management LLC lifted its holdings in shares of Landstar System by 19.5% in the fourth quarter. Stone Ridge Asset Management LLC now owns 34,780 shares of the transportation company’s stock worth $3,327,000 after acquiring an additional 5,675 shares during the last quarter. Finally, Raymond James Trust N.A. lifted its holdings in shares of Landstar System by 2.8% in the fourth quarter. Raymond James Trust N.A. now owns 4,090 shares of the transportation company’s stock worth $391,000 after acquiring an additional 110 shares during the last quarter. 98.65% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on LSTR. BidaskClub raised Landstar System from a “hold” rating to a “buy” rating in a research note on Thursday, May 9th. Stifel Nicolaus upped their price objective on Landstar System from $119.00 to $123.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Cowen reaffirmed a “market perform” rating and issued a $115.00 price objective (up previously from $110.00) on shares of Landstar System in a research note on Thursday, April 25th. Finally, Buckingham Research lowered their price objective on Landstar System from $115.00 to $114.00 and set a “neutral” rating for the company in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $113.22.
Shares of Landstar System stock traded down $1.07 on Friday, hitting $105.61. The stock had a trading volume of 32,795 shares, compared to its average volume of 400,341. Landstar System, Inc. has a twelve month low of $90.23 and a twelve month high of $128.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market capitalization of $4.26 billion, a P/E ratio of 17.09, a P/E/G ratio of 1.38 and a beta of 1.17.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.06. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The company had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. The firm’s revenue was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Landstar System, Inc. will post 6.41 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 9th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, May 8th. Landstar System’s dividend payout ratio is currently 10.68%.
In other Landstar System news, CEO James B. Gattoni sold 19,481 shares of the stock in a transaction that occurred 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Joseph J. Beacom sold 5,000 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $114.12, for a total transaction of $570,600.00. Following the sale, the chief operating officer now directly owns 45,924 shares of the company’s stock, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. Insiders sold 53,481 shares of company stock valued at $5,941,557 in the last ninety days. 1.00% of the stock is currently owned by insiders.
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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