Bbva Compass Bancshares Inc. Increases Stake in Landstar System Inc. (LSTR)
Bbva Compass Bancshares Inc. boosted its position in Landstar System Inc. (NASDAQ:LSTR) by 21.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,212 shares of the company’s stock after buying an additional 3,070 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Landstar System were worth $1,181,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in LSTR. LS Investment Advisors LLC increased its position in shares of Landstar System by 69.8% in the second quarter. LS Investment Advisors LLC now owns 2,589 shares of the company’s stock worth $178,000 after buying an additional 1,064 shares during the last quarter. Huntington National Bank increased its position in shares of Landstar System by 20.9% in the second quarter. Huntington National Bank now owns 3,184 shares of the company’s stock worth $219,000 after buying an additional 551 shares during the last quarter. Parametrica Management Ltd purchased a new position in shares of Landstar System during the second quarter worth approximately $255,000. Hollencrest Securities LLC increased its position in shares of Landstar System by 0.7% in the second quarter. Hollencrest Securities LLC now owns 4,062 shares of the company’s stock worth $279,000 after buying an additional 28 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new position in shares of Landstar System during the first quarter worth approximately $292,000.
Landstar System Inc. (NASDAQ:LSTR) traded up 0.15% on Wednesday, reaching $65.85. 663,018 shares of the company’s stock were exchanged. The firm’s 50 day moving average is $67.29 and its 200 day moving average is $67.44. Landstar System Inc. has a 1-year low of $53.03 and a 1-year high of $72.97. The stock has a market capitalization of $2.77 billion, a P/E ratio of 20.35 and a beta of 0.80.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.92 earnings per share. Analysts expect that Landstar System Inc. will post $3.08 EPS for the current year.
A number of brokerages have commented on LSTR. Citigroup Inc. downgraded shares of Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Friday, June 24th. Finally, Oppenheimer Holdings Inc. downgraded shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. Landstar System currently has an average rating of “Hold” and an average target price of $62.66.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of the firm’s stock in a transaction 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 sale, the chief marketing officer now directly owns 40,237 shares in the company, valued at $2,783,193.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.30% of the stock is owned by company 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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