Royce & Associates LP trimmed its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 7.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,179,285 shares of the transportation company’s stock after selling 93,881 shares during the period. Landstar System comprises about 0.8% of Royce & Associates LP’s holdings, making the stock its 7th biggest position. Royce & Associates LP owned about 2.81% of Landstar System worth $122,764,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in Landstar System in the 3rd quarter worth approximately $86,725,000. First Trust Advisors LP grew its stake in shares of Landstar System by 769.5% during the 4th quarter. First Trust Advisors LP now owns 320,846 shares of the transportation company’s stock valued at $33,400,000 after buying an additional 283,946 shares during the period. TimesSquare Capital Management LLC purchased a new stake in shares of Landstar System during the 3rd quarter valued at $22,780,000. Old Mutual Global Investors UK Ltd. grew its stake in shares of Landstar System by 64.5% during the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 246,964 shares of the transportation company’s stock valued at $25,708,000 after buying an additional 96,840 shares during the period. Finally, Mutual of America Capital Management LLC grew its stake in shares of Landstar System by 282.2% during the 3rd quarter. Mutual of America Capital Management LLC now owns 128,843 shares of the transportation company’s stock valued at $12,839,000 after buying an additional 95,128 shares during the period. Institutional investors own 97.96% of the company’s stock.
A number of brokerages recently weighed in on LSTR. BidaskClub cut shares of Landstar System from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Tuesday, January 2nd. Cleveland Research upgraded shares of Landstar System from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. KeyCorp reiterated a “buy” rating and issued a $125.00 price objective on shares of Landstar System in a report on Friday, February 2nd. Finally, Robert W. Baird restated a “hold” rating and issued a $105.00 target price on shares of Landstar System in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company. Landstar System has a consensus rating of “Hold” and an average target price of $105.75.
Landstar System, Inc. (NASDAQ:LSTR) traded up $0.20 during midday trading on Friday, reaching $110.70. 202,385 shares of the company’s stock traded hands, compared to its average volume of 295,718. 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 company has a market cap of $4,640.01, a PE ratio of 26.29, a price-to-earnings-growth ratio of 1.64 and a beta of 0.81. Landstar System, Inc. has a 1 year low of $80.00 and a 1 year high of $118.60.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The business had revenue of $1.05 billion during 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 business’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the firm posted $0.94 earnings per share. equities research analysts anticipate that Landstar System, Inc. will post 4.98 earnings per share for the current year.
Landstar System announced that its board has approved a stock repurchase plan on Wednesday, December 13th that allows the company to buyback 1,960,000 shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently announced 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. The ex-dividend date of this dividend is Thursday, February 15th. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.54%. Landstar System’s dividend payout ratio is currently 14.25%.
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Landstar System Company 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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