Royce & Associates LP cut its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 7.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,179,285 shares of the transportation company’s stock after selling 93,881 shares during the quarter. Landstar System comprises approximately 0.8% of Royce & Associates LP’s portfolio, making the stock its 7th largest holding. Royce & Associates LP owned about 2.81% of Landstar System worth $122,764,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of LSTR. First Manhattan Co. acquired a new position in shares of Landstar System during the fourth quarter worth about $104,000. Advisor Group Inc. increased its stake 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 worth $130,000 after acquiring an additional 599 shares during the period. Zions Bancorporation acquired a new position in shares of Landstar System during the third quarter worth about $167,000. PNC Financial Services Group Inc. increased its stake 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 worth $171,000 after acquiring an additional 373 shares during the period. Finally, Advisory Services Network LLC increased its stake in shares of Landstar System by 2,304.0% during the fourth quarter. Advisory Services Network LLC now owns 1,803 shares of the transportation company’s stock worth $188,000 after acquiring an additional 1,728 shares during the period. Institutional investors own 99.23% of the company’s stock.
In related news, Director Dr. Homaira Akbari sold 1,000 shares of the business’s stock in a transaction dated 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 owns 6,656 shares of the company’s stock, valued at $654,284.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.00% of the stock is currently owned by insiders.
A number of research analysts have recently issued reports on the stock. Buckingham Research boosted their price target on shares of Landstar System from $114.00 to $126.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. KeyCorp reiterated a “buy” rating and set a $125.00 price target on shares of Landstar System in a research note on Friday, February 2nd. Cowen reiterated a “market perform” rating and set a $115.00 price target (up from $97.00) on shares of Landstar System in a research note on Thursday, February 1st. Cleveland Research upgraded shares of Landstar System from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $105.75.
Shares of Landstar System, Inc. (LSTR) opened at $111.00 on Friday. The company has a market cap of $4,654.70, a PE ratio of 29.56, a P/E/G ratio of 1.65 and a beta of 0.81. Landstar System, Inc. has a fifty-two week low of $80.00 and a fifty-two week high of $118.60. The company has a current ratio of 1.75, a quick ratio of 1.96 and a debt-to-equity ratio of 0.13.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.06. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.01 billion. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.94 earnings per share. analysts forecast that Landstar System, Inc. will post 4.98 EPS for the current year.
Landstar System announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 13th that allows the company to repurchase 1,960,000 outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, February 15th. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. This is an increase from Landstar System’s previous quarterly dividend of $0.10. Landstar System’s payout ratio is currently 14.25%.
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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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