Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its position in Landstar System, Inc. (NASDAQ:LSTR) by 1.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,627 shares of the transportation company’s stock after selling 28 shares during the period. PNC Financial Services Group Inc.’s holdings in Landstar System were worth $139,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. USA Financial Portformulas Corp raised its stake in shares of Landstar System by 20.2% in the fourth quarter. USA Financial Portformulas Corp now owns 18,576 shares of the transportation company’s stock worth $1,585,000 after buying an additional 3,117 shares during the last quarter. Oxford Asset Management bought a new stake in shares of Landstar System during the first quarter worth $374,000. Parametrica Management Ltd bought a new stake in shares of Landstar System during the first quarter worth $212,000. Retirement Systems of Alabama raised its stake in shares of Landstar System by 1.1% in the first quarter. Retirement Systems of Alabama now owns 106,258 shares of the transportation company’s stock worth $9,101,000 after buying an additional 1,130 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Landstar System during the first quarter worth $1,204,000. 97.10% of the stock is owned by institutional investors and hedge funds.

Landstar System, Inc. (NASDAQ:LSTR) traded up 0.12% during mid-day trading on Friday, hitting $81.55. 813,546 shares of the stock traded hands. The company has a 50 day moving average of $85.38 and a 200-day moving average of $85.20. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $90.80. The stock has a market cap of $3.42 billion, a PE ratio of 23.56 and a beta of 0.75.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. During the same quarter last year, the business posted $0.76 earnings per share. The company’s quarterly revenue was up 12.3% on a year-over-year basis. Equities research analysts forecast that Landstar System, Inc. will post $3.55 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. This is an increase from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date is Thursday, August 10th. Landstar System’s dividend payout ratio is currently 11.56%.

COPYRIGHT VIOLATION WARNING: “Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by PNC Financial Services Group Inc.” was originally published by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://www.com-unik.info/2017/08/19/landstar-system-inc-nasdaqlstr-stake-cut-by-pnc-financial-services-group-inc-updated-updated-updated.html.

Several equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a report on Thursday, July 6th. Stifel Nicolaus upgraded shares of Landstar System from a “hold” rating to a “buy” rating and boosted their price target for the company from $87.00 to $95.00 in a report on Monday, July 31st. Deutsche Bank AG lowered shares of Landstar System from a “buy” rating to a “hold” rating and reduced their price target for the company from $97.00 to $87.00 in a report on Monday, July 31st. BidaskClub downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Cowen and Company lifted their price objective on shares of Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $84.86.

About Landstar System

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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

What are top analysts saying about Landstar System Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Landstar System Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit