3,100 Shares in Landstar System, Inc. (LSTR) Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 3,100 shares of the transportation company’s stock, valued at approximately $322,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its holdings in Landstar System by 0.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 29,846 shares of the transportation company’s stock worth $2,554,000 after acquiring an additional 231 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Landstar System by 22.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock worth $171,000 after acquiring an additional 373 shares during the period. Pacer Advisors Inc. boosted its holdings in Landstar System by 11.7% in the 3rd quarter. Pacer Advisors Inc. now owns 5,000 shares of the transportation company’s stock worth $498,000 after acquiring an additional 525 shares during the period. TrimTabs Asset Management LLC boosted its holdings in Landstar System by 17.1% in the 3rd quarter. TrimTabs Asset Management LLC now owns 3,794 shares of the transportation company’s stock worth $378,000 after acquiring an additional 555 shares during the period. Finally, Advisor Group Inc. boosted its holdings in Landstar System by 64.8% in the 2nd quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock worth $130,000 after acquiring an additional 599 shares during the period. Hedge funds and other institutional investors own 98.06% of the company’s stock.

Landstar System, Inc. (NASDAQ LSTR) opened at $109.35 on Tuesday. The company has a market capitalization of $4,763.12, a P/E ratio of 30.27, a PEG ratio of 1.86 and a beta of 0.81. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.96 and a current ratio of 1.75. Landstar System, Inc. has a one year low of $80.00 and a one year high of $118.60.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.06. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a return on equity of 25.30% and a net margin of 4.86%. The business’s revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 EPS. sell-side analysts anticipate that Landstar System, Inc. will post 4.52 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be given a dividend of $0.15 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. The ex-dividend date is Thursday, February 15th. Landstar System’s dividend payout ratio is currently 9.50%.

Landstar System announced that its board has initiated a stock buyback plan on Wednesday, December 13th that permits the company to buyback 1,960,000 outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

A number of equities analysts have weighed in on LSTR shares. Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. BidaskClub upgraded Landstar System from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Wells Fargo & Co increased their target price on Landstar System from $83.00 to $98.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. Cleveland Research upgraded Landstar System from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Cowen reiterated a “market perform” rating and set a $115.00 target price (up from $97.00) on shares of Landstar System in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $105.75.

In related news, COO Joseph J. Beacom sold 9,805 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total transaction of $964,027.60. Following the sale, the chief operating officer now directly owns 55,649 shares of the company’s stock, valued at approximately $5,471,409.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the sale, the director now directly owns 6,656 shares in the company, valued at $654,284.80. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “3,100 Shares in Landstar System, Inc. (LSTR) Purchased by State of Alaska Department of Revenue” was first posted by Community Financial News and is owned by of Community Financial News. If you are accessing this article on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright law. The legal version of this article can be read at https://www.com-unik.info/2018/02/06/3100-shares-in-landstar-system-inc-lstr-purchased-by-state-of-alaska-department-of-revenue.html.

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.

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR).

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

Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.

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