Benjamin F. Edwards & Company Inc. boosted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 39.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 388 shares of the transportation company’s stock after buying an additional 109 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Landstar System were worth $63,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of LSTR. Boston Partners raised its holdings in Landstar System by 28.5% during the 3rd quarter. Boston Partners now owns 1,664,888 shares of the transportation company’s stock worth $240,541,000 after buying an additional 368,802 shares during the period. Renaissance Technologies LLC acquired a new stake in Landstar System during the 1st quarter worth approximately $26,416,000. Pacer Advisors Inc. raised its holdings in Landstar System by 604,360.9% during the 4th quarter. Pacer Advisors Inc. now owns 139,026 shares of the transportation company’s stock worth $22,647,000 after buying an additional 139,003 shares during the period. Barclays PLC raised its holdings in shares of Landstar System by 774.5% in the third quarter. Barclays PLC now owns 118,717 shares of the transportation company’s stock valued at $17,140,000 after purchasing an additional 105,141 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Landstar System by 21.5% in the first quarter. Northern Trust Corp now owns 559,782 shares of the transportation company’s stock valued at $84,432,000 after purchasing an additional 98,958 shares during the last quarter. 98.90% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. Stifel Nicolaus lowered their price objective on shares of Landstar System from $184.00 to $178.00 in a report on Tuesday, May 2nd. Raymond James upgraded shares of Landstar System from a “market perform” rating to an “outperform” rating and set a $200.00 price objective on the stock in a report on Monday, February 6th. Stephens raised their target price on shares of Landstar System from $180.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday, February 3rd. Morgan Stanley raised their target price on shares of Landstar System from $140.00 to $146.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 4th. Finally, Robert W. Baird raised their target price on shares of Landstar System from $160.00 to $180.00 in a research note on Friday, February 3rd. Nine investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $166.83.
Landstar System Trading Down 0.8 %
Landstar System (NASDAQ:LSTR – Get Rating) last posted its quarterly earnings results on Wednesday, April 26th. The transportation company reported $2.17 EPS for the quarter, beating analysts’ consensus estimates of $2.07 by $0.10. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. Landstar System had a return on equity of 43.26% and a net margin of 5.57%. Landstar System’s revenue for the quarter was down 27.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.34 earnings per share. As a group, sell-side analysts forecast that Landstar System, Inc. will post 8.67 EPS for the current year.
Landstar System Cuts Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 26th. Shareholders of record on Thursday, May 4th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 0.67%. The ex-dividend date of this dividend is Wednesday, May 3rd. Landstar System’s payout ratio is 11.34%.
Insiders Place Their Bets
In other Landstar System news, COO Joseph J. Beacom sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $182.94, for a total transaction of $1,280,580.00. Following the completion of the transaction, the chief operating officer now owns 17,578 shares of the company’s stock, valued at $3,215,719.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Landstar System news, COO Joseph J. Beacom sold 7,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $182.94, for a total transaction of $1,280,580.00. Following the completion of the transaction, the chief operating officer now owns 17,578 shares of the company’s stock, valued at $3,215,719.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ricardo S. Coro sold 3,000 shares of the business’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $184.63, for a total value of $553,890.00. Following the sale, the vice president now owns 22,167 shares in the company, valued at $4,092,693.21. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.
Landstar System Profile
Landstar System, Inc engages in the provision of transportation management solutions. It operates through the following segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers transportation services including truckload and less-than-truckload transportation, rail intermodal, air and ocean cargo, project cargo, and customs brokerage.
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