Nisa Investment Advisors LLC grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 71.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 21,650 shares of the transportation company’s stock after buying an additional 9,000 shares during the quarter. Nisa Investment Advisors LLC owned approximately 0.05% of Landstar System worth $2,254,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of LSTR. Vanguard Group Inc. lifted its holdings in shares of Landstar System by 2.2% during the second quarter. Vanguard Group Inc. now owns 3,457,375 shares of the transportation company’s stock worth $295,951,000 after purchasing an additional 74,458 shares during the period. Atlanta Capital Management Co. L L C lifted its holdings in shares of Landstar System by 6.5% during the second quarter. Atlanta Capital Management Co. L L C now owns 2,430,445 shares of the transportation company’s stock worth $208,046,000 after purchasing an additional 147,478 shares during the period. FMR LLC lifted its holdings in shares of Landstar System by 64.7% during the second quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock worth $103,575,000 after purchasing an additional 475,220 shares during the period. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Landstar System by 8.4% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,172,077 shares of the transportation company’s stock worth $116,798,000 after purchasing an additional 90,630 shares during the period. Finally, Victory Capital Management Inc. acquired a new position in shares of Landstar System during the third quarter worth $86,725,000. 98.06% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $98.30, for a total transaction of $98,300.00. Following the sale, the director now directly owns 6,656 shares in the company, valued at approximately $654,284.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.00% of the company’s stock.
Landstar System, Inc. (NASDAQ LSTR) traded down $1.20 on Friday, reaching $105.35. 431,775 shares of the company’s stock were exchanged, compared to its average volume of 266,505. The company has a current ratio of 1.75, a quick ratio of 1.96 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $4,423.75, a PE ratio of 28.09, a price-to-earnings-growth ratio of 1.60 and a beta of 0.81. Landstar System, Inc. has a 52-week low of $80.00 and a 52-week high of $118.60.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, January 31st. The transportation company reported $1.08 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.06. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The company’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.94 earnings per share. sell-side analysts expect that Landstar System, Inc. will post 4.98 EPS for the current year.
Landstar System announced that its board has initiated a stock buyback program on Wednesday, December 13th that permits the company to repurchase 1,960,000 outstanding shares. This repurchase authorization permits the transportation company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be paid a dividend of $0.15 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Thursday, February 15th. Landstar System’s dividend payout ratio is presently 9.50%.
LSTR has been the topic of several recent analyst reports. Buckingham Research initiated coverage on shares of Landstar System in a report on Friday, October 20th. They issued a “neutral” rating and a $103.00 target price on the stock. Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Friday, January 12th. BidaskClub upgraded shares of Landstar System from a “buy” rating to a “strong-buy” rating in a report on Tuesday, December 5th. Robert W. Baird restated a “hold” rating and issued a $105.00 target price on shares of Landstar System in a report on Tuesday, January 9th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $97.00 price target (up from $84.00) on shares of Landstar System in a research note on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $105.75.
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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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