Barings LLC held its position in Landstar System, Inc. (NASDAQ:LSTR) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,660 shares of the transportation company’s stock at the end of the first quarter. Barings LLC’s holdings in Landstar System were worth $913,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of LSTR. BlackRock Inc. increased its position in Landstar System by 7,684.2% in the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after buying an additional 4,035,361 shares in the last quarter. Vanguard Group Inc. increased its position in Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock worth $289,747,000 after buying an additional 130,461 shares in the last quarter. State Street Corp increased its position in Landstar System by 1.8% in the fourth quarter. State Street Corp now owns 1,208,933 shares of the transportation company’s stock worth $103,119,000 after buying an additional 21,492 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC increased its position in Landstar System by 2.4% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,049,928 shares of the transportation company’s stock worth $89,927,000 after buying an additional 24,645 shares in the last quarter. Finally, FMR LLC raised its stake in Landstar System by 42.6% in the fourth quarter. FMR LLC now owns 804,065 shares of the transportation company’s stock valued at $68,587,000 after buying an additional 240,340 shares during the last quarter. Institutional investors and hedge funds own 97.42% of the company’s stock.
Shares of Landstar System, Inc. (NASDAQ:LSTR) traded up 0.86% during midday trading on Friday, reaching $82.30. The company had a trading volume of 405,647 shares. The company has a market capitalization of $3.45 billion, a P/E ratio of 23.77 and a beta of 0.76. Landstar System, Inc. has a 52 week low of $65.05 and a 52 week high of $90.80. The company’s 50 day moving average price is $86.61 and its 200-day moving average price is $85.39.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business had revenue of $870.34 million during the quarter, compared to the consensus estimate of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business’s revenue was up 12.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 earnings per share. On average, equities research analysts predict that Landstar System, Inc. will post $3.56 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a dividend of $0.10 per share. The ex-dividend date is Thursday, August 10th. This is an increase from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. Landstar System’s payout ratio is currently 10.40%.
Several analysts recently weighed in on LSTR shares. Cowen and Company increased their price target on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Stifel Nicolaus increased their price target on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, April 28th. BidaskClub lowered Landstar System from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. Landstar System has an average rating of “Hold” and an average target price of $85.50.
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.
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