LS Investment Advisors LLC trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 33.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,645 shares of the transportation company’s stock after selling 1,354 shares during the quarter. LS Investment Advisors LLC’s holdings in Landstar System were worth $275,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of LSTR. Victory Capital Management Inc. bought a new stake in Landstar System during the third quarter worth approximately $86,725,000. TimesSquare Capital Management LLC bought a new stake in Landstar System during the third quarter worth approximately $22,780,000. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Landstar System by 8.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,172,077 shares of the transportation company’s stock worth $116,798,000 after buying an additional 90,630 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Landstar System by 46.2% during the third quarter. Ameriprise Financial Inc. now owns 206,592 shares of the transportation company’s stock worth $20,588,000 after buying an additional 65,294 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its holdings in Landstar System by 157.5% during the third quarter. State of Tennessee Treasury Department now owns 51,500 shares of the transportation company’s stock worth $5,132,000 after buying an additional 31,500 shares in the last quarter. Hedge funds and other institutional investors own 97.96% of the company’s stock.
A number of brokerages recently weighed in on LSTR. Cowen restated a “market perform” rating and set a $115.00 target price (up from $97.00) on shares of Landstar System in a report on Thursday, February 1st. KeyCorp restated a “buy” rating and set a $125.00 target price on shares of Landstar System in a report on Friday, February 2nd. Buckingham Research raised their target price on shares of Landstar System from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Cleveland Research upgraded shares of Landstar System from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $105.75.
Landstar System, Inc. (NASDAQ LSTR) opened at $110.00 on Wednesday. Landstar System, Inc. has a 52 week low of $80.00 and a 52 week high of $118.60. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.75 and a quick ratio of 1.96. The company has a market cap of $4,661.00, a P/E ratio of 29.60, a P/E/G ratio of 1.65 and a beta of 0.81.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue was up 17.8% on a year-over-year basis. analysts forecast that Landstar System, Inc. will post 4.98 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be paid a $0.15 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.55%. Landstar System’s dividend payout ratio (DPR) is currently 14.25%.
Landstar System announced that its Board of Directors has initiated a share repurchase plan on Wednesday, December 13th that authorizes the company to buyback 1,960,000 shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.
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Landstar System Profile
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.
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