Nisa Investment Advisors LLC boosted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 71.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,650 shares of the transportation company’s stock after buying an additional 9,000 shares during the period. Nisa Investment Advisors LLC owned 0.05% of Landstar System worth $2,254,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Advisor Group Inc. increased its holdings in shares of Landstar System by 64.8% during the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 599 shares during the period. Zions Bancorporation acquired a new position in shares of Landstar System during the third quarter valued at $167,000. PNC Financial Services Group Inc. increased its holdings in shares of Landstar System by 22.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 373 shares during the period. BlueCrest Capital Management Ltd acquired a new position in shares of Landstar System during the second quarter valued at $202,000. Finally, ETRADE Capital Management LLC acquired a new position in shares of Landstar System during the second quarter valued at $209,000. 97.93% of the stock is currently owned by hedge funds and other institutional investors.
Landstar System, Inc. (NASDAQ:LSTR) opened at $110.60 on Friday. Landstar System, Inc. has a 52 week low of $80.00 and a 52 week high of $110.65. The firm has a market capitalization of $4,557.49, a PE ratio of 30.64, a P/E/G ratio of 1.81 and a beta of 0.81. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.12.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The business had revenue of $943.40 million during the quarter, compared to analysts’ expectations of $895.31 million. During the same quarter last year, the business posted $0.86 earnings per share. The company’s quarterly revenue was up 19.7% on a year-over-year basis. equities analysts forecast that Landstar System, Inc. will post 3.69 EPS for the current fiscal year.
Landstar System declared that its board has authorized a share buyback plan on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
The company also recently announced a special dividend, which will be paid on Friday, January 26th. Investors of record on Friday, January 12th will be paid a dividend of $1.50 per share. The ex-dividend date is Thursday, January 11th. This represents a yield of 0.39%. This is a boost from Landstar System’s previous special dividend of $1.00. Landstar System’s dividend payout ratio (DPR) is currently 11.08%.
In related news, CEO James B. Gattoni sold 15,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 69,339 shares of the company’s stock, valued at $6,845,146.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dr. Homaira Akbari sold 1,000 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the completion of the transaction, the director now owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The disclosure for this sale can be found here. Insiders have sold 40,805 shares of company stock valued at $4,028,128 in the last ninety days. Company insiders own 1.00% of the company’s stock.
LSTR has been the topic of a number of research analyst reports. Buckingham Research initiated coverage on Landstar System in a report on Friday, October 20th. They set a “neutral” rating and a $103.00 price target on the stock. BidaskClub raised Landstar System from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Credit Suisse Group reissued a “neutral” rating and set a $97.00 price target (up from $84.00) on shares of Landstar System in a report on Tuesday, October 31st. Robert W. Baird reissued a “hold” rating and set a $102.00 price target on shares of Landstar System in a report on Friday, October 6th. Finally, Wells Fargo & Co raised their price target on Landstar System from $83.00 to $98.00 and gave the company a “market perform” rating in a report on Friday, October 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $101.33.
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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