State of Tennessee Treasury Department continued to hold its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the transportation company’s stock at the close of the 2nd quarter. State of Tennessee Treasury Department’s holdings in Landstar System were worth $1,712,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LSTR. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Landstar System by 36.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,600 shares of the transportation company’s stock valued at $137,000 after buying an additional 427 shares in the last quarter. IFP Advisors Inc grew its stake in shares of Landstar System by 2.9% in the 2nd quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after buying an additional 47 shares in the last quarter. Laurion Capital Management LP bought a new stake in shares of Landstar System in the 1st quarter valued at approximately $223,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Landstar System in the 1st quarter valued at approximately $250,000. Finally, Trexquant Investment LP bought a new stake in shares of Landstar System in the 1st quarter valued at approximately $251,000. 96.99% of the stock is owned by institutional investors and hedge funds.
Shares of Landstar System, Inc. (LSTR) opened at 96.65 on Thursday. The company has a market cap of $4.05 billion, a PE ratio of 27.92 and a beta of 0.74. The firm’s 50-day moving average price is $87.72 and its 200-day moving average price is $85.85. Landstar System, Inc. has a 12 month low of $65.05 and a 12 month high of $96.70.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. The firm 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% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. Equities analysts predict that Landstar System, Inc. will post $3.57 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.41%. This is an increase from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Thursday, August 10th. Landstar System’s dividend payout ratio (DPR) is currently 11.56%.
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LSTR has been the subject of several recent research reports. BidaskClub raised Landstar System from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price target for the company in a research note on Thursday, July 6th. Cowen and Company reissued a “hold” rating and issued a $86.00 price target on shares of Landstar System in a research note on Monday, August 28th. Deutsche Bank AG cut Landstar System from a “buy” rating to a “hold” rating and lowered their price target for the company from $97.00 to $87.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target on shares of Landstar System in a research note on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and a consensus price target of $87.63.
Landstar System Company 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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