Algert Global LLC Sells 3,665 Shares of Landstar System, Inc. (LSTR)
Algert Global LLC trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 49.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,810 shares of the transportation company’s stock after selling 3,665 shares during the quarter. Algert Global LLC’s holdings in Landstar System were worth $397,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Southport Management L.L.C. purchased a new stake in shares of Landstar System during the third quarter worth approximately $498,000. Legal & General Group Plc increased its stake in Landstar System by 11.7% in the third quarter. Legal & General Group Plc now owns 52,200 shares of the transportation company’s stock valued at $5,202,000 after purchasing an additional 5,468 shares during the last quarter. Cubist Systematic Strategies LLC increased its stake in Landstar System by 109.2% in the second quarter. Cubist Systematic Strategies LLC now owns 4,328 shares of the transportation company’s stock valued at $370,000 after purchasing an additional 2,259 shares during the last quarter. Stifel Financial Corp increased its stake in Landstar System by 3.3% in the third quarter. Stifel Financial Corp now owns 56,992 shares of the transportation company’s stock valued at $5,676,000 after purchasing an additional 1,833 shares during the last quarter. Finally, Sei Investments Co. increased its stake in Landstar System by 67.8% in the third quarter. Sei Investments Co. now owns 72,800 shares of the transportation company’s stock valued at $7,256,000 after purchasing an additional 29,407 shares during the last quarter. Hedge funds and other institutional investors own 98.06% of the company’s stock.
In other Landstar System news, COO Joseph J. Beacom sold 9,805 shares of the firm’s stock in a transaction on Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total value of $964,027.60. Following the completion of the sale, the chief operating officer now owns 55,649 shares of the company’s stock, valued at $5,471,409.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 value of $98,300.00. Following the completion of the sale, the director now directly owns 6,656 shares of the company’s stock, valued at approximately $654,284.80. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Landstar System had a return on equity of 25.30% and a net margin of 4.86%. The firm had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $0.94 earnings per share. The company’s revenue for the quarter was up 17.8% on a year-over-year basis. analysts anticipate that Landstar System, Inc. will post 4.52 EPS for the current year.
Landstar System announced that its board has approved a share repurchase plan on Wednesday, December 13th that allows the company to repurchase 1,960,000 shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, February 15th. This is an increase from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a dividend yield of 0.55%. Landstar System’s dividend payout ratio (DPR) is currently 9.50%.
Several equities analysts have commented on LSTR shares. Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub upgraded shares of Landstar System from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Wells Fargo & Co raised their target price on shares of Landstar System from $83.00 to $98.00 and gave the stock a “market perform” rating in a research report on Friday, October 27th. Cleveland Research upgraded shares of Landstar System from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Cowen restated a “market perform” rating and set a $115.00 target price (up from $97.00) on shares of Landstar System in a research report on Thursday, February 1st. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the company. Landstar System presently has an average rating of “Hold” and a consensus price target of $105.75.
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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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