Landstar System, Inc. (LSTR) Holdings Trimmed by Investec Asset Management LTD
Investec Asset Management LTD cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 21.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,460 shares of the transportation company’s stock after selling 17,163 shares during the period. Investec Asset Management LTD owned approximately 0.15% of Landstar System worth $6,224,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Victory Capital Management Inc. bought a new stake in shares of Landstar System in the third quarter valued at about $86,725,000. Janus Henderson Group PLC bought a new stake in shares of Landstar System in the second quarter valued at about $57,249,000. FMR LLC lifted its holdings in shares of Landstar System by 64.7% in the second quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock valued at $103,575,000 after purchasing an additional 475,220 shares in the last quarter. Koch Industries Inc. bought a new stake in shares of Landstar System in the second quarter valued at about $339,000. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Landstar System in the third quarter valued at about $22,780,000. Hedge funds and other institutional investors own 97.91% of the company’s stock.
A number of equities analysts have weighed in on LSTR shares. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and issued a $110.00 price objective on shares of Landstar System in a research note on Tuesday, October 3rd. Stifel Nicolaus reiterated a “buy” rating and issued a $95.00 target price on shares of Landstar System in a research note on Tuesday, September 12th. Cowen reissued a “hold” rating and set a $86.00 price target on shares of Landstar System in a research report on Monday, August 28th. Finally, Robert W. Baird reissued a “hold” rating and set a $102.00 price target on shares of Landstar System in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $96.67.
Shares of Landstar System, Inc. (LSTR) opened at $103.20 on Friday. The firm has a market cap of $4,194.48, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.01 and a beta of 0.80. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. Landstar System, Inc. has a fifty-two week low of $80.00 and a fifty-two week high of $103.57.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.96 by $0.05. The company had revenue of $943.40 million for the quarter, compared to the consensus estimate of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The firm’s revenue for the quarter was up 19.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 earnings per share. equities analysts expect that Landstar System, Inc. will post 3.68 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 14th will be given a dividend of $0.10 per share. The ex-dividend date is Monday, November 13th. This represents a $0.40 annualized dividend and a dividend yield of 0.39%. Landstar System’s payout ratio is 11.08%.
In related news, Director Dr. Homaira Akbari sold 1,000 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $98.30, for a total transaction of $98,300.00. Following the completion of the transaction, the director now directly owns 6,656 shares of the company’s stock, valued at $654,284.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Michael K. Kneller sold 10,000 shares of Landstar System stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the completion of the transaction, the vice president now directly owns 22,153 shares of the company’s stock, valued at $2,193,147. The disclosure for this sale can be found here. Insiders have sold a total of 40,805 shares of company stock worth $4,028,128 over the last 90 days. Insiders own 1.00% of the company’s stock.
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Landstar System 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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