United Services Automobile Association decreased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 5.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,987 shares of the transportation company’s stock after selling 320 shares during the quarter. United Services Automobile Association’s holdings in Landstar System were worth $647,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Advisory Services Network LLC increased its position in Landstar System by 130.3% during the first quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock worth $31,000 after purchasing an additional 159 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in Landstar System during the second quarter worth approximately $60,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Landstar System during the second quarter worth approximately $82,000. Zions Bancorporation N.A. increased its position in shares of Landstar System by 6.4% in the second quarter. Zions Bancorporation N.A. now owns 1,866 shares of the transportation company’s stock worth $202,000 after acquiring an additional 113 shares in the last quarter. Finally, Ellington Management Group LLC acquired a new stake in shares of Landstar System in the second quarter worth $335,000.
Several research firms have recently issued reports on LSTR. Wolfe Research raised shares of Landstar System from an “underperform” rating to a “peer perform” rating in a research report on Friday, June 28th. Zacks Investment Research upgraded shares of Landstar System from a “sell” rating to a “hold” rating and set a $117.00 price target on the stock in a research note on Wednesday, July 31st. Raymond James upgraded shares of Landstar System from an “underperform” rating to a “market perform” rating and set a $107.82 price target on the stock in a research note on Tuesday, July 2nd. Deutsche Bank set a $107.00 price target on shares of Landstar System and gave the stock a “hold” rating in a research note on Thursday, July 11th. Finally, BidaskClub upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Wednesday, September 4th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $112.07.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.54 by ($0.01). The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.07 billion. Landstar System had a net margin of 5.82% and a return on equity of 36.17%. The business’s quarterly revenue was down 11.6% compared to the same quarter last year. During the same period last year, the business earned $1.51 earnings per share. On average, analysts anticipate that Landstar System, Inc. will post 6.08 EPS for the current fiscal year.
Landstar System Profile
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload service providers.
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