Zurcher Kantonalbank Zurich Cantonalbank Purchases 224 Shares of Landstar System, Inc. (LSTR)
Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Landstar System, Inc. (NASDAQ:LSTR) by 14.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,824 shares of the transportation company’s stock after buying an additional 224 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Landstar System were worth $156,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in LSTR. BlackRock Inc. grew its stake in shares of Landstar System by 7,684.2% in the 1st quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock valued at $350,127,000 after buying an additional 4,035,361 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Landstar System by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock valued at $289,747,000 after buying an additional 130,461 shares in the last quarter. Marshall Wace North America L.P. grew its stake in shares of Landstar System by 1,792.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 121,471 shares of the transportation company’s stock valued at $10,447,000 after buying an additional 115,052 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Landstar System by 71.7% in the 1st quarter. Renaissance Technologies LLC now owns 212,340 shares of the transportation company’s stock valued at $18,187,000 after buying an additional 88,700 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Landstar System by 78.4% in the 1st quarter. AQR Capital Management LLC now owns 165,261 shares of the transportation company’s stock valued at $14,155,000 after buying an additional 72,636 shares in the last quarter. 96.99% of the stock is owned by institutional investors and hedge funds.
Shares of Landstar System, Inc. (NASDAQ LSTR) opened at 95.65 on Tuesday. The firm has a market capitalization of $4.01 billion, a price-to-earnings ratio of 27.63 and a beta of 0.74. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $96.15. The company has a 50-day moving average price of $87.38 and a 200 day moving average price of $85.79.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million during the quarter, compared to the consensus estimate of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business’s revenue was up 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.76 earnings per share. Equities research analysts expect that Landstar System, Inc. will post $3.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 14th were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.42%. This is an increase from Landstar System’s previous quarterly dividend of $0.09. The ex-dividend date was Thursday, August 10th. Landstar System’s dividend payout ratio (DPR) is currently 11.56%.
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Several equities research analysts recently commented on the company. Morgan Stanley boosted their price target on Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, August 7th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 price target on shares of Landstar System in a research note on Tuesday, September 12th. BidaskClub cut Landstar System from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, Stephens raised Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $88.00 to $103.00 in a research note on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. Landstar System currently has a consensus rating of “Hold” and a consensus target price of $87.63.
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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