Teachers Insurance & Annuity Association of America Takes $684,000 Position in Landstar System, Inc. (LSTR)
Teachers Insurance & Annuity Association of America acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 4th quarter, Holdings Channel reports. The fund acquired 6,572 shares of the transportation company’s stock, valued at approximately $684,000.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Manhattan Co. purchased a new position in shares of Landstar System in the fourth quarter valued at $104,000. Zions Bancorporation purchased a new position in shares of Landstar System in the third quarter valued at $167,000. Advisory Services Network LLC boosted its stake in shares of Landstar System by 2,304.0% in the fourth quarter. Advisory Services Network LLC now owns 1,803 shares of the transportation company’s stock valued at $188,000 after purchasing an additional 1,728 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Landstar System in the third quarter valued at $210,000. Finally, Strategic Global Advisors LLC purchased a new position in shares of Landstar System in the third quarter valued at $212,000. Institutional investors own 99.86% of the company’s stock.
Several research analysts have recently weighed in on LSTR shares. KeyCorp restated a “buy” rating and issued a $125.00 target price on shares of Landstar System in a research note on Friday, February 2nd. Cleveland Research upgraded shares of Landstar System from a “neutral” rating to a “buy” rating in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Tuesday, January 16th. BidaskClub cut shares of Landstar System from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $105.00 price target on shares of Landstar System in a report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Landstar System currently has a consensus rating of “Hold” and an average price target of $107.50.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.06. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. equities analysts predict that Landstar System, Inc. will post 5.15 EPS for the current fiscal year.
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 $0.15 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.54%. Landstar System’s dividend payout ratio is currently 14.25%.
Landstar System announced that its Board of Directors has authorized a share buyback program on Wednesday, December 13th that allows the company to buyback 1,960,000 outstanding shares. This buyback authorization allows the transportation company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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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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