TIAA CREF Investment Management LLC Sells 47,674 Shares of Landstar System, Inc. (LSTR)
TIAA CREF Investment Management LLC cut its position in Landstar System, Inc. (NASDAQ:LSTR) by 21.3% during the third quarter, Holdings Channel reports. The firm owned 175,678 shares of the company’s stock after selling 47,674 shares during the period. TIAA CREF Investment Management LLC’s holdings in Landstar System were worth $11,960,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of LSTR. Ameriprise Financial Inc. increased its stake in shares of Landstar System by 1.2% in the second quarter. Ameriprise Financial Inc. now owns 268,408 shares of the company’s stock worth $18,430,000 after buying an additional 3,250 shares during the period. Royce & Associates LP increased its stake in shares of Landstar System by 2.5% in the second quarter. Royce & Associates LP now owns 1,549,410 shares of the company’s stock worth $106,382,000 after buying an additional 38,400 shares during the period. PNC Financial Services Group Inc. increased its stake in shares of Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock worth $124,000 after buying an additional 31 shares during the period. First Trust Advisors LP increased its stake in shares of Landstar System by 311.6% in the second quarter. First Trust Advisors LP now owns 62,084 shares of the company’s stock worth $4,263,000 after buying an additional 47,001 shares during the period. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Landstar System during the second quarter worth about $1,280,000. 99.53% of the stock is owned by institutional investors and hedge funds.
Landstar System, Inc. (NASDAQ:LSTR) opened at 85.60 on Friday. The company’s 50-day moving average price is $85.05 and its 200-day moving average price is $73.27. The stock has a market capitalization of $3.58 billion, a PE ratio of 26.82 and a beta of 0.77. Landstar System, Inc. has a one year low of $53.03 and a one year high of $90.80.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, October 19th. The company reported $0.86 EPS for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.05. The company had revenue of $788 million for the quarter, compared to the consensus estimate of $576.65 million. Landstar System had a return on equity of 27.78% and a net margin of 4.34%. Landstar System’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 earnings per share. Equities research analysts predict that Landstar System, Inc. will post $3.18 EPS for the current year.
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A number of brokerages have issued reports on LSTR. Zacks Investment Research downgraded Landstar System from a “buy” rating to a “hold” rating in a research note on Friday, December 9th. Stifel Nicolaus downgraded Landstar System from a “buy” rating to a “hold” rating and raised their target price for the stock from $70.00 to $72.00 in a research note on Thursday, December 15th. Susquehanna began coverage on Landstar System in a research note on Tuesday, December 20th. They issued a “neutral” rating and a $81.00 target price for the company. Finally, Deutsche Bank AG began coverage on Landstar System in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $82.00 target price for the company. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $68.63.
In other Landstar System news, VP Larry S. Thomas sold 5,280 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was sold at an average price of $80.57, for a total transaction of $425,409.60. Following the sale, the vice president now directly owns 28,371 shares in the company, valued at $2,285,851.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.
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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