Landstar System Inc. (LSTR) Stake Decreased by Jensen Investment Management Inc.
Jensen Investment Management Inc. cut its stake in shares of Landstar System Inc. (NASDAQ:LSTR) by 6.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,190 shares of the company’s stock after selling 410 shares during the period. Jensen Investment Management Inc.’s holdings in Landstar System were worth $425,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the stock. State Street Corp boosted its stake in shares of Landstar System by 1.2% in the first quarter. State Street Corp now owns 1,247,965 shares of the company’s stock valued at $80,628,000 after buying an additional 14,857 shares during the last quarter. Wellington Management Group LLP raised its stake in Landstar System by 2.6% in the first quarter. Wellington Management Group LLP now owns 3,602,864 shares of the company’s stock valued at $232,781,000 after buying an additional 91,503 shares during the period. Prudential Financial Inc. raised its stake in Landstar System by 8.9% in the first quarter. Prudential Financial Inc. now owns 30,994 shares of the company’s stock valued at $2,003,000 after buying an additional 2,530 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Landstar System by 30.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 46,071 shares of the company’s stock valued at $2,977,000 after buying an additional 10,721 shares during the period. Finally, UBS Group AG raised its stake in Landstar System by 0.7% in the first quarter. UBS Group AG now owns 46,861 shares of the company’s stock valued at $3,028,000 after buying an additional 326 shares during the period.
Shares of Landstar System Inc. (NASDAQ:LSTR) traded up 1.41% during mid-day trading on Thursday, reaching $66.98. The company’s stock had a trading volume of 346,164 shares. The firm has a market cap of $2.82 billion, a price-to-earnings ratio of 20.70 and a beta of 0.76. The firm has a 50 day moving average price of $68.47 and a 200 day moving average price of $67.13. Landstar System Inc. has a 52-week low of $53.03 and a 52-week high of $72.97.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.05. The company earned $775 million during the quarter, compared to the consensus estimate of $790.95 million. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. The firm’s revenue for the quarter was down 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.92 earnings per share. On average, equities analysts predict that Landstar System Inc. will post $3.08 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 8th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.54%. This is a boost from Landstar System’s previous quarterly dividend of $0.08. The ex-dividend date was Thursday, August 4th. Landstar System’s dividend payout ratio (DPR) is presently 11.15%.
Several equities research analysts recently weighed in on the company. Citigroup Inc. lowered Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Oppenheimer Holdings Inc. lowered Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Finally, Zacks Investment Research upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Monday, September 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has given a buy rating to the company’s stock. Landstar System has a consensus rating of “Hold” and an average price target of $62.66.
In other news, CMO Patrick J. O’malley sold 1,787 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $69.17, for a total value of $123,606.79. Following the completion of the sale, the chief marketing officer now directly owns 40,237 shares of the company’s stock, valued at $2,783,193.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.30% of the stock is owned by insiders.
About Landstar System
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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