Raymond James Trust N.A. grew its stake in Landstar System, Inc. (NASDAQ:LSTR) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,648 shares of the transportation company’s stock after acquiring an additional 178 shares during the period. Raymond James Trust N.A.’s holdings in Landstar System were worth $398,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Landstar System by 7,684.2% in the 1st quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after purchasing an additional 4,035,361 shares during the period. Alliancebernstein L.P. lifted its position in shares of Landstar System by 641.1% in the 2nd quarter. Alliancebernstein L.P. now owns 192,125 shares of the transportation company’s stock worth $16,446,000 after purchasing an additional 166,201 shares during the period. Old Mutual Global Investors UK Ltd. lifted its position in shares of Landstar System by 147,683.5% in the 2nd quarter. Old Mutual Global Investors UK Ltd. now owns 152,217 shares of the transportation company’s stock worth $13,029,000 after purchasing an additional 152,114 shares during the period. Vanguard Group Inc. lifted its position in shares of Landstar System by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock worth $289,747,000 after purchasing an additional 130,461 shares during the period. Finally, Marshall Wace North America L.P. lifted its position in shares of Landstar System by 1,792.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 121,471 shares of the transportation company’s stock worth $10,447,000 after purchasing an additional 115,052 shares during the period. Institutional investors and hedge funds own 97.00% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 price target on shares of Landstar System in a research report on Tuesday, September 12th. Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $88.00 to $103.00 in a research report on Wednesday, August 30th. Cowen and Company reaffirmed a “hold” rating and issued a $86.00 price target on shares of Landstar System in a research report on Monday, August 28th. Morgan Stanley upped their price target on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, August 7th. Finally, Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. Landstar System currently has a consensus rating of “Hold” and an average price target of $87.63.
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Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at 95.20 on Friday. The company’s 50-day moving average is $87.00 and its 200-day moving average is $85.76. Landstar System, Inc. has a 52-week low of $65.05 and a 52-week high of $96.15. The stock has a market cap of $3.99 billion, a PE ratio of 27.50 and a beta of 0.74.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The company had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. During the same quarter in the previous year, the business posted $0.76 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that Landstar System, Inc. will post $3.56 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.42%. The ex-dividend date was Thursday, August 10th. This is a boost from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s payout ratio is 11.56%.
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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