Prudential Financial Inc. grew its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 8.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 335,754 shares of the transportation company’s stock after buying an additional 26,570 shares during the quarter. Prudential Financial Inc. owned 0.80% of Landstar System worth $33,458,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of LSTR. Teachers Advisors LLC grew its holdings in shares of Landstar System by 2.5% during the first quarter. Teachers Advisors LLC now owns 40,535 shares of the transportation company’s stock valued at $3,472,000 after buying an additional 983 shares during the last quarter. UBS Group AG grew its holdings in shares of Landstar System by 16.0% during the first quarter. UBS Group AG now owns 15,176 shares of the transportation company’s stock valued at $1,300,000 after buying an additional 2,093 shares during the last quarter. Capstone Asset Management Co. grew its holdings in shares of Landstar System by 0.4% during the second quarter. Capstone Asset Management Co. now owns 4,531 shares of the transportation company’s stock valued at $388,000 after buying an additional 20 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Landstar System by 4.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 15,423 shares of the transportation company’s stock valued at $1,320,000 after buying an additional 699 shares during the last quarter. Finally, Reinhart Partners Inc. grew its holdings in shares of Landstar System by 3.3% during the second quarter. Reinhart Partners Inc. now owns 11,820 shares of the transportation company’s stock valued at $1,012,000 after buying an additional 380 shares during the last quarter. Hedge funds and other institutional investors own 99.05% of the company’s stock.
Shares of Landstar System, Inc. (NASDAQ LSTR) opened at $96.35 on Tuesday. The company has a market cap of $4,066.49, a PE ratio of 26.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.96 and a quick ratio of 1.96. Landstar System, Inc. has a 12-month low of $79.60 and a 12-month high of $102.55.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 EPS for the quarter, topping the consensus estimate of $0.96 by $0.05. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The business had revenue of $943.40 million for the quarter, compared to analyst estimates of $895.31 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 19.7% on a year-over-year basis. equities analysts forecast that Landstar System, Inc. will post 3.68 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 14th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, November 13th. Landstar System’s dividend payout ratio (DPR) is currently 11.08%.
Several research analysts recently weighed in on the stock. Buckingham Research assumed coverage on shares of Landstar System in a report on Friday, October 20th. They set a “neutral” rating and a $103.00 price target on the stock. Cowen and Company restated a “hold” rating and set a $97.00 price target on shares of Landstar System in a report on Friday, October 27th. Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Morgan Stanley boosted their price target on shares of Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, August 7th. Finally, Stephens upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $88.00 to $103.00 in a report on Wednesday, August 30th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $96.67.
In other news, VP Michael K. Kneller sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the sale, the vice president now owns 22,153 shares of the company’s stock, valued at $2,193,147. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO James B. Gattoni sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $98.72, for a total transaction of $1,480,800.00. Following the completion of the sale, the chief executive officer now directly owns 69,339 shares in the company, valued at approximately $6,845,146.08. The disclosure for this sale can be found here. In the last three months, insiders sold 39,805 shares of company stock worth $3,929,828. Insiders own 1.00% of the company’s stock.
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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