Landstar System, Inc. (NASDAQ:LSTR) Stake Reduced by Smithfield Trust Co.
Smithfield Trust Co. decreased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 14.3% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,379 shares of the transportation company’s stock after selling 895 shares during the period. Smithfield Trust Co.’s holdings in Landstar System were worth $460,000 as of its most recent filing with the SEC.
Other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors LLC boosted its position in Landstar System by 6.6% in the fourth quarter. Teachers Advisors LLC now owns 39,552 shares of the transportation company’s stock valued at $3,374,000 after buying an additional 2,443 shares during the last quarter. Stock Yards Bank & Trust Co. acquired a new position in Landstar System during the first quarter valued at about $248,000. Bank of Montreal Can boosted its position in Landstar System by 108.5% in the first quarter. Bank of Montreal Can now owns 44,781 shares of the transportation company’s stock valued at $3,835,000 after buying an additional 23,306 shares during the last quarter. Parametrica Management Ltd acquired a new position in Landstar System during the first quarter valued at about $212,000. Finally, Fox Run Management L.L.C. acquired a new position in Landstar System during the first quarter valued at about $283,000. Institutional investors own 97.12% of the company’s stock.
Shares of Landstar System, Inc. (LSTR) opened at 84.20 on Friday. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $90.80. The firm has a market cap of $3.53 billion, a PE ratio of 24.32 and a beta of 0.75. The company has a 50 day moving average price of $86.43 and a 200-day moving average price of $85.34.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The business had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. During the same quarter last year, the business earned $0.76 earnings per share. The business’s revenue for the quarter was up 12.3% on a year-over-year basis. Analysts expect that Landstar System, Inc. will post $3.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 14th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.48%. The ex-dividend date of this dividend is Thursday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s dividend payout ratio (DPR) is currently 10.40%.
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Several equities analysts have issued reports on LSTR shares. Cowen and Company boosted their target price on Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a research report on Thursday, April 27th. Stifel Nicolaus boosted their target price on Landstar System from $81.00 to $87.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. BidaskClub upgraded Landstar System from a “sell” rating to a “hold” rating in a research report on Tuesday, June 13th. 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 research report on Thursday, July 6th. Finally, Deutsche Bank AG cut Landstar System from a “buy” rating to a “hold” rating and dropped their target price for the stock from $97.00 to $87.00 in a research report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. Landstar System presently has an average rating of “Hold” and a consensus target price of $87.67.
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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