Goldman Sachs Group Inc. raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 26.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 213,278 shares of the transportation company’s stock after buying an additional 44,910 shares during the period. Goldman Sachs Group Inc. owned about 0.51% of Landstar System worth $18,267,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of LSTR. US Bancorp DE increased its stake in shares of Landstar System by 3.2% in the first quarter. US Bancorp DE now owns 3,963 shares of the transportation company’s stock worth $340,000 after buying an additional 122 shares during the last quarter. Glen Harbor Capital Management LLC increased its stake in shares of Landstar System by 11.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,200 shares of the transportation company’s stock worth $103,000 after buying an additional 128 shares during the last quarter. Cardinal Capital Management increased its stake in shares of Landstar System by 1.0% in the first quarter. Cardinal Capital Management now owns 13,229 shares of the transportation company’s stock worth $1,133,000 after buying an additional 134 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Landstar System by 0.9% in the first quarter. Envestnet Asset Management Inc. now owns 17,352 shares of the transportation company’s stock worth $1,485,000 after buying an additional 149 shares during the last quarter. Finally, Tyers Asset Management LLC increased its stake in shares of Landstar System by 11.9% in the first quarter. Tyers Asset Management LLC now owns 1,650 shares of the transportation company’s stock worth $141,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 97.12% of the company’s stock.
Shares of Landstar System, Inc. (NASDAQ LSTR) traded up 0.03% during midday trading on Tuesday, reaching $83.95. The company’s stock had a trading volume of 237,234 shares. Landstar System, Inc. has a 52-week low of $65.05 and a 52-week high of $90.80. The stock has a market cap of $3.52 billion, a price-to-earnings ratio of 24.25 and a beta of 0.75. The stock has a 50-day moving average price of $86.03 and a 200-day moving average price of $85.28.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The firm had revenue of $870.34 million during the quarter, compared to analyst estimates of $859.30 million. During the same quarter in the prior year, the company earned $0.76 EPS. The business’s revenue was up 12.3% compared to the same quarter last year. Equities research analysts anticipate that Landstar System, Inc. will post $3.55 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be given a $0.10 dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s dividend payout ratio is currently 10.40%.
A number of brokerages have weighed in on LSTR. Stifel Nicolaus upgraded Landstar System from a “hold” rating to a “buy” rating and lifted their target price for the stock from $87.00 to $95.00 in a report on Monday, July 31st. BidaskClub downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a report on Thursday, July 6th. Cowen and Company lifted their target price on Landstar System from $76.00 to $82.00 and gave the stock a “market perform” rating in a report on Thursday, April 27th. Finally, Morgan Stanley raised their price objective on Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $84.86.
Landstar System Company 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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