BB&T Securities LLC raised its stake in Landstar System, Inc. (NASDAQ:LSTR) by 7.0% during the second quarter, Holdings Channel reports. The institutional investor owned 19,255 shares of the transportation company’s stock after buying an additional 1,260 shares during the quarter. BB&T Securities LLC’s holdings in Landstar System were worth $2,102,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Landstar System by 18.0% during the second quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock valued at $548,369,000 after purchasing an additional 764,662 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Landstar System by 9.4% during the second quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock valued at $167,005,000 after purchasing an additional 130,937 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in shares of Landstar System by 2.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,228,108 shares of the transportation company’s stock valued at $134,663,000 after purchasing an additional 31,796 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Landstar System by 3.9% during the second quarter. Bank of New York Mellon Corp now owns 553,881 shares of the transportation company’s stock valued at $60,484,000 after purchasing an additional 20,564 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Landstar System by 157.3% during the first quarter. Millennium Management LLC now owns 531,453 shares of the transportation company’s stock valued at $58,274,000 after purchasing an additional 324,924 shares during the period. Institutional investors own 97.30% of the company’s stock.
A number of research analysts have recently commented on LSTR shares. BidaskClub lowered Landstar System from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 30th. KeyCorp reissued a “buy” rating and set a $130.00 price target (up from $125.00) on shares of Landstar System in a report on Thursday, July 26th. Stifel Nicolaus raised Landstar System from a “hold” rating to a “buy” rating and raised their price target for the company from $123.00 to $128.00 in a report on Monday, July 30th. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a report on Thursday, June 28th. Finally, ValuEngine raised Landstar System from a “hold” rating to a “buy” rating in a report on Tuesday, September 11th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Landstar System has a consensus rating of “Buy” and a consensus target price of $119.25.
In related news, COO Joseph J. Beacom sold 3,000 shares of Landstar System stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $119.52, for a total transaction of $358,560.00. Following the transaction, the chief operating officer now directly owns 33,702 shares of the company’s stock, valued at $4,028,063.04. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.
Shares of LSTR opened at $124.60 on Friday. The firm has a market cap of $5.19 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 1.54 and a beta of 0.87. Landstar System, Inc. has a one year low of $93.75 and a one year high of $128.70. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.10.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, July 25th. The transportation company reported $1.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.02). The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 31.06% and a net margin of 5.38%. Landstar System’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.89 earnings per share. sell-side analysts anticipate that Landstar System, Inc. will post 6.07 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 13th were issued a dividend of $0.165 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Friday, August 10th. Landstar System’s payout ratio is presently 17.60%.
Landstar System Profile
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, including third party logistics and less-than-truckload service providers.
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