Stifel Financial Corp boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,992 shares of the transportation company’s stock after purchasing an additional 1,833 shares during the quarter. Stifel Financial Corp owned about 0.14% of Landstar System worth $5,676,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in LSTR. Victory Capital Management Inc. bought a new stake in shares of Landstar System in the 3rd quarter worth approximately $86,725,000. Janus Henderson Group PLC bought a new stake in shares of Landstar System in the 2nd quarter worth approximately $57,249,000. FMR LLC lifted its position in shares of Landstar System by 64.7% in the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock worth $103,575,000 after acquiring an additional 475,220 shares during the period. Koch Industries Inc. bought a new stake in shares of Landstar System in the 2nd quarter worth approximately $339,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Landstar System in the 3rd quarter worth approximately $22,780,000. Hedge funds and other institutional investors own 97.96% of the company’s stock.
In related news, CEO James B. Gattoni sold 15,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $98.72, for a total transaction of $1,480,800.00. Following the completion of the sale, the chief executive officer now directly owns 69,339 shares of the company’s stock, valued at approximately $6,845,146.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Michael K. Kneller sold 10,000 shares of the firm’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the sale, the vice president now directly owns 22,153 shares of the company’s stock, valued at $2,193,147. The disclosure for this sale can be found here. Insiders have sold a total of 40,805 shares of company stock valued at $4,028,128 in the last 90 days. 1.00% of the stock is owned by corporate insiders.
LSTR has been the subject of a number of research reports. Cowen reiterated a “hold” rating and issued a $86.00 price objective on shares of Landstar System in a research report on Monday, August 28th. Buckingham Research initiated coverage on Landstar System in a research report on Friday, October 20th. They issued a “neutral” rating and a $103.00 price objective for the company. Stephens upgraded Landstar System from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $88.00 to $103.00 in a research report on Wednesday, August 30th. Stifel Nicolaus restated a “buy” rating and set a $95.00 target price on shares of Landstar System in a research report on Tuesday, September 12th. Finally, Credit Suisse Group restated a “neutral” rating and set a $97.00 target price (up previously from $84.00) on shares of Landstar System in a research report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $96.67.
Landstar System, Inc. (NASDAQ:LSTR) opened at $103.70 on Friday. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $4,364.44, a P/E ratio of 28.81, a P/E/G ratio of 2.10 and a beta of 0.81. Landstar System, Inc. has a 52-week low of $80.00 and a 52-week high of $107.60.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. The business had revenue of $943.40 million during the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. Landstar System’s revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. analysts forecast that Landstar System, Inc. will post 3.68 earnings per share for the current fiscal year.
The business also recently announced a special dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be given a dividend of $1.50 per share. This represents a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, January 11th. This is an increase from Landstar System’s previous special dividend of $1.00. Landstar System’s dividend payout ratio (DPR) is 11.08%.
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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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