American International Group Inc. trimmed its position in Landstar System (NASDAQ:LSTR) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,079 shares of the transportation company’s stock after selling 2,779 shares during the quarter. American International Group Inc. owned approximately 0.20% of Landstar System worth $9,219,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. purchased a new stake in shares of Landstar System in the fourth quarter worth about $104,000. Advisory Services Network LLC lifted its holdings in shares of Landstar System by 2,304.0% in the fourth quarter. Advisory Services Network LLC now owns 1,803 shares of the transportation company’s stock worth $188,000 after buying an additional 1,728 shares in the last quarter. Atria Investments LLC purchased a new stake in shares of Landstar System in the first quarter worth about $202,000. Sciencast Management LP purchased a new stake in shares of Landstar System in the fourth quarter worth about $260,000. Finally, Franklin Resources Inc. purchased a new stake in Landstar System in the fourth quarter valued at approximately $247,000. 99.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ LSTR opened at $111.05 on Monday. Landstar System has a one year low of $80.00 and a one year high of $118.60. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 29.61, a price-to-earnings-growth ratio of 1.44 and a beta of 0.82.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, April 25th. The transportation company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.02. Landstar System had a net margin of 5.17% and a return on equity of 27.86%. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.77 earnings per share. The business’s quarterly revenue was up 34.2% on a year-over-year basis. sell-side analysts predict that Landstar System will post 5.73 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, May 10th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.54%. The ex-dividend date of this dividend is Wednesday, May 9th. Landstar System’s payout ratio is currently 16.00%.
A number of equities research analysts recently weighed in on LSTR shares. Buckingham Research raised their target price on shares of Landstar System from $130.00 to $131.00 and gave the company a “neutral” rating in a research note on Wednesday, April 4th. Cowen reaffirmed a “market perform” rating and issued a $115.00 target price (up from $97.00) on shares of Landstar System in a research note on Thursday, February 1st. Cleveland Research raised shares of Landstar System from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Morgan Stanley raised their target price on shares of Landstar System from $94.00 to $96.00 and gave the company an “underweight” rating in a research note on Friday, April 6th. Finally, Stephens reaffirmed a “buy” rating and issued a $143.00 target price on shares of Landstar System in a research note on Monday, April 9th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $113.15.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, including third party logistics and less-than-truckload service providers.
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