Reinhart Partners Inc. Acquires 380 Shares of Landstar System, Inc. (LSTR)
Reinhart Partners Inc. boosted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.3% during the second quarter, Holdings Channel reports. The institutional investor owned 11,820 shares of the transportation company’s stock after buying an additional 380 shares during the period. Reinhart Partners Inc.’s holdings in Landstar System were worth $1,012,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LSTR. Renaissance Technologies LLC increased its position in Landstar System by 87.2% in the fourth quarter. Renaissance Technologies LLC now owns 123,640 shares of the transportation company’s stock valued at $10,546,000 after buying an additional 57,600 shares in the last quarter. USA Financial Portformulas Corp boosted its stake in shares of Landstar System by 20.2% in the fourth quarter. USA Financial Portformulas Corp now owns 18,576 shares of the transportation company’s stock valued at $1,585,000 after buying an additional 3,117 shares during the last quarter. Oxford Asset Management bought a new stake in shares of Landstar System during the first quarter valued at approximately $374,000. Parametrica Management Ltd bought a new stake in shares of Landstar System during the first quarter valued at approximately $212,000. Finally, Retirement Systems of Alabama boosted its stake in shares of Landstar System by 1.1% in the first quarter. Retirement Systems of Alabama now owns 106,258 shares of the transportation company’s stock valued at $9,101,000 after buying an additional 1,130 shares during the last quarter. 97.46% of the stock is owned by institutional investors.
Landstar System, Inc. (NASDAQ:LSTR) opened at 87.90 on Tuesday. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $90.80. The firm’s 50 day moving average price is $84.45 and its 200-day moving average price is $85.21. The company has a market capitalization of $3.69 billion, a PE ratio of 26.39 and a beta of 0.75.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 26th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.04. Landstar System had a return on equity of 26.51% and a net margin of 4.34%. The firm had revenue of $780.90 million for the quarter, compared to analysts’ expectations of $757.56 million. During the same period in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year. On average, equities analysts anticipate that Landstar System, Inc. will post $3.55 earnings per share for the current fiscal year.
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LSTR has been the topic of several analyst reports. BidaskClub cut Landstar System from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Cowen and Company upped their target price on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price on the stock in a report on Thursday, July 6th. Finally, Stifel Nicolaus upped their target price on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $85.50.
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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