Nisa Investment Advisors LLC boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 8.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,700 shares of the transportation company’s stock after buying an additional 1,500 shares during the period. Nisa Investment Advisors LLC’s holdings in Landstar System were worth $2,100,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of LSTR. Norges Bank acquired a new stake in Landstar System during the fourth quarter worth $50,532,000. Van Berkom & Associates Inc. lifted its holdings in shares of Landstar System by 63.4% during the first quarter. Van Berkom & Associates Inc. now owns 640,108 shares of the transportation company’s stock valued at $61,361,000 after acquiring an additional 248,417 shares during the period. Janus Henderson Group PLC lifted its holdings in shares of Landstar System by 4,129.3% during the first quarter. Janus Henderson Group PLC now owns 170,312 shares of the transportation company’s stock valued at $16,326,000 after acquiring an additional 166,285 shares during the period. Copper Rock Capital Partners LLC bought a new position in shares of Landstar System during the first quarter valued at $515,098,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Landstar System by 5.9% during the first quarter. Victory Capital Management Inc. now owns 2,500,536 shares of the transportation company’s stock valued at $239,702,000 after acquiring an additional 140,343 shares during the period.
LSTR has been the subject of a number of analyst reports. Oppenheimer reissued a “hold” rating on shares of Landstar System in a report on Wednesday, July 22nd. Stifel Nicolaus cut their price objective on Landstar System from $114.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 1st. BidaskClub raised Landstar System from a “hold” rating to a “buy” rating in a report on Friday. Credit Suisse Group lifted their price objective on Landstar System from $103.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Morgan Stanley lifted their price target on Landstar System from $67.00 to $70.00 and gave the company an “underweight” rating in a report on Monday, July 27th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Landstar System has a consensus rating of “Hold” and an average price target of $113.82.
In other Landstar System news, COO Joseph J. Beacom sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $115.24, for a total transaction of $576,200.00. Following the completion of the sale, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $4,830,399.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana M. Murphy sold 8,000 shares of the business’s stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $122.45, for a total value of $979,600.00. Following the sale, the director now directly owns 24,947 shares of the company’s stock, valued at $3,054,760.15. The disclosure for this sale can be found here. Insiders have sold a total of 19,678 shares of company stock valued at $2,307,542 over the last three months. Company insiders own 1.00% of the company’s stock.
Shares of NASDAQ:LSTR opened at $121.78 on Friday. The stock has a market capitalization of $4.67 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.28 and a beta of 1.00. Landstar System, Inc. has a 1-year low of $85.30 and a 1-year high of $126.13. The company has a current ratio of 1.77, a quick ratio of 1.76 and a debt-to-equity ratio of 0.09. The business has a 50-day moving average price of $113.91 and a two-hundred day moving average price of $108.06.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.68 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.71 by ($0.03). The firm had revenue of $823.51 million for the quarter, compared to the consensus estimate of $782.58 million. Landstar System had a return on equity of 26.42% and a net margin of 4.48%. As a group, equities analysts predict that Landstar System, Inc. will post 4.44 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 28th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.21 per share. This is a boost from Landstar System’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 0.69%. The ex-dividend date is Friday, August 7th. Landstar System’s payout ratio is currently 12.94%.
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, such as third party logistics and less-than-truckload service providers.
Further Reading: Current Ratio
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