Sprucegrove Investment Management Ltd. Makes New $97,000 Investment in Landstar System, Inc. $LSTR

Sprucegrove Investment Management Ltd. acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 700 shares of the transportation company’s stock, valued at approximately $97,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. lifted its position in Landstar System by 3.4% in the second quarter. Resona Asset Management Co. Ltd. now owns 6,640 shares of the transportation company’s stock worth $923,000 after buying an additional 217 shares during the last quarter. Simon Quick Advisors LLC purchased a new position in shares of Landstar System during the second quarter valued at approximately $297,000. Atria Investments Inc grew its stake in shares of Landstar System by 6.9% during the second quarter. Atria Investments Inc now owns 12,621 shares of the transportation company’s stock valued at $1,755,000 after buying an additional 815 shares during the last quarter. Hantz Financial Services Inc. raised its holdings in shares of Landstar System by 7,650.0% in the second quarter. Hantz Financial Services Inc. now owns 310 shares of the transportation company’s stock worth $43,000 after buying an additional 306 shares during the period. Finally, World Investment Advisors bought a new stake in shares of Landstar System during the 2nd quarter worth approximately $490,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

LSTR has been the topic of several research analyst reports. JPMorgan Chase & Co. cut their price objective on Landstar System from $138.00 to $134.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 29th. Susquehanna decreased their price objective on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating for the company in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Landstar System in a research note on Wednesday, October 8th. Stifel Nicolaus decreased their price target on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. Finally, Wall Street Zen upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $134.60.

Landstar System Trading Up 0.0%

Shares of NASDAQ:LSTR opened at $128.00 on Thursday. The company has a market capitalization of $4.40 billion, a PE ratio of 32.65 and a beta of 0.83. The company has a current ratio of 2.01, a quick ratio of 2.00 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $196.86. The business’s fifty day simple moving average is $127.76 and its 200-day simple moving average is $133.92.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. As a group, equities research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Investors of record on Tuesday, November 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Tuesday, November 18th. Landstar System’s payout ratio is 40.82%.

Landstar System Company 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 services.