Cadence Capital Management LLC Has $1.13 Million Position in Landstar System, Inc. (LSTR)

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Cadence Capital Management LLC lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 33.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,334 shares of the transportation company’s stock after selling 5,264 shares during the quarter. Cadence Capital Management LLC’s holdings in Landstar System were worth $1,130,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Intercontinental Wealth Advisors LLC purchased a new position in Landstar System during the fourth quarter worth about $50,000. Essex Savings Bank purchased a new position in Landstar System during the fourth quarter worth about $67,000. Penserra Capital Management LLC purchased a new position in Landstar System during the fourth quarter worth about $79,000. Quantamental Technologies LLC purchased a new position in Landstar System during the fourth quarter worth about $116,000. Finally, Park National Corp OH purchased a new position in Landstar System during the first quarter worth about $201,000. 98.65% of the stock is owned by hedge funds and other institutional investors.

LSTR has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on shares of Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Buckingham Research set a $115.00 target price on shares of Landstar System and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Cowen reaffirmed a “market perform” rating and set a $115.00 target price (up previously from $110.00) on shares of Landstar System in a research note on Thursday, April 25th. Finally, BidaskClub raised shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. 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 company. The company has a consensus rating of “Hold” and an average price target of $113.22.

In other news, COO Joseph J. Beacom sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $114.12, for a total value of $570,600.00. Following the completion of the transaction, the chief operating officer now owns 45,924 shares of the company’s stock, valued at $5,240,846.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO L Kevin Stout sold 6,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 47,204 shares of the company’s stock, valued at approximately $5,239,171.96. The disclosure for this sale can be found here. In the last three months, insiders sold 53,481 shares of company stock valued at $5,941,557. Insiders own 1.00% of the company’s stock.

NASDAQ LSTR opened at $106.67 on Monday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. Landstar System, Inc. has a one year low of $90.23 and a one year high of $128.70. The company has a market capitalization of $4.28 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.52 by $0.06. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm posted $1.37 earnings per share. The business’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Landstar System, Inc. will post 6.41 earnings per share for the current year.

The firm 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 payout ratio is 10.68%.

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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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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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