American International Group Inc. lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 80,268 shares of the transportation company’s stock after selling 3,778 shares during the period. American International Group Inc.’s holdings in Landstar System were worth $8,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LSTR. JPMorgan Chase & Co. raised its holdings in Landstar System by 4.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 991,473 shares of the transportation company’s stock valued at $120,961,000 after acquiring an additional 39,994 shares in the last quarter. Morgan Stanley raised its holdings in Landstar System by 49.6% in the 3rd quarter. Morgan Stanley now owns 161,962 shares of the transportation company’s stock valued at $19,759,000 after acquiring an additional 53,709 shares in the last quarter. Federated Investors Inc. PA raised its holdings in Landstar System by 86.5% in the 3rd quarter. Federated Investors Inc. PA now owns 95,942 shares of the transportation company’s stock valued at $11,705,000 after acquiring an additional 44,501 shares in the last quarter. Vanguard Group Inc raised its holdings in Landstar System by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 3,687,689 shares of the transportation company’s stock valued at $449,897,000 after acquiring an additional 21,365 shares in the last quarter. Finally, Eukles Asset Management acquired a new position in Landstar System in the 4th quarter valued at $706,000. 98.65% of the stock is owned by institutional investors.
Several brokerages have weighed in on LSTR. BidaskClub raised Landstar System from a “hold” rating to a “buy” rating in a report on Thursday, May 9th. Stifel Nicolaus lifted their price objective on Landstar System from $119.00 to $123.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Cowen reaffirmed a “market perform” rating and issued a $115.00 price objective (up from $110.00) on shares of Landstar System in a report on Thursday, April 25th. Finally, Buckingham Research dropped their price objective on Landstar System from $115.00 to $114.00 and set a “neutral” rating for the company in a report on Tuesday, April 2nd. Three analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $113.22.
In related news, CMO Patrick J. O’malley sold 23,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the sale, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Joseph J. Beacom sold 5,000 shares of the business’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $114.12, for a total value of $570,600.00. Following the sale, the chief operating officer now owns 45,924 shares in the company, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. Insiders have sold a total of 47,481 shares of company stock valued at $5,275,617 in the last three months. 1.00% of the stock is owned by insiders.
Landstar System stock opened at $105.74 on Tuesday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. Landstar System, Inc. has a 52 week low of $90.23 and a 52 week high of $128.70. The firm has a market cap of $4.25 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 1.39 and a beta of 1.17.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.58 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.06. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the firm earned $1.37 EPS. Landstar System’s revenue was down 1.4% on a year-over-year basis. As a group, research analysts forecast that Landstar System, Inc. will post 6.41 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 9th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.62%. Landstar System’s dividend payout ratio (DPR) is currently 10.68%.
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, such as third party logistics and less-than-truckload service providers.
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