Confluence Investment Management LLC lowered its position in Landstar System Inc. (NASDAQ:LSTR) by 1.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,288 shares of the company’s stock after selling 455 shares during the period. Confluence Investment Management LLC owned about 0.06% of Landstar System worth $1,722,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in shares of Landstar System by 1.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the company’s stock worth $125,000 after buying an additional 21 shares in the last quarter. Hollencrest Securities LLC increased its stake in shares of Landstar System by 0.7% in the second quarter. Hollencrest Securities LLC now owns 4,062 shares of the company’s stock worth $279,000 after buying an additional 28 shares in the last quarter. Raymond James Trust N.A. increased its stake in shares of Landstar System by 1.0% in the third quarter. Raymond James Trust N.A. now owns 4,662 shares of the company’s stock worth $317,000 after buying an additional 48 shares in the last quarter. State Treasurer State of Michigan increased its stake in shares of Landstar System by 0.6% in the second quarter. State Treasurer State of Michigan now owns 17,000 shares of the company’s stock worth $1,167,000 after buying an additional 100 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Landstar System by 1.4% in the third quarter. Bank of Montreal Can now owns 17,788 shares of the company’s stock worth $1,210,000 after buying an additional 249 shares in the last quarter. 98.24% of the stock is currently owned by institutional investors.
Landstar System Inc. (NASDAQ:LSTR) traded up 0.67% during mid-day trading on Friday, reaching $82.15. The company had a trading volume of 181,977 shares. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 25.74 and a beta of 0.69. Landstar System Inc. has a 12-month low of $53.03 and a 12-month high of $83.00. The firm has a 50-day moving average price of $72.80 and a 200 day moving average price of $69.26.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, October 19th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.05. Landstar System had a net margin of 4.34% and a return on equity of 27.78%. The business earned $788 million during the quarter, compared to analyst estimates of $576.65 million. During the same period in the previous year, the business earned $0.90 EPS. Landstar System’s revenue was down 6.4% compared to the same quarter last year. Analysts expect that Landstar System Inc. will post $3.17 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Tuesday, November 8th will be paid a $0.09 dividend. The ex-dividend date is Friday, November 4th. This represents a $0.36 dividend on an annualized basis and a yield of 0.44%. Landstar System’s dividend payout ratio is 11.29%.
LSTR has been the topic of a number of analyst reports. Zacks Investment Research raised Landstar System from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Oppenheimer Holdings Inc. downgraded Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Cowen and Company increased their price target on Landstar System from $67.00 to $70.00 and gave the stock a “market perform” rating in a research report on Thursday, October 20th. Citigroup Inc. downgraded Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Deutsche Bank AG began coverage on Landstar System in a research note on Wednesday, November 2nd. They set a “buy” rating and a $82.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $66.30.
In other news, VP Larry S. Thomas sold 5,280 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $80.57, for a total transaction of $425,409.60. Following the completion of the transaction, the vice president now directly owns 28,371 shares in the company, valued at approximately $2,285,851.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.30% of the stock is currently owned by corporate insiders.
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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