Landstar System, Inc. (NASDAQ:LSTR) Stake Reduced by Meeder Asset Management Inc.

Meeder Asset Management Inc. lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 53.1% during the second quarter, Holdings Channel reports. The firm owned 6,081 shares of the transportation company’s stock after selling 6,885 shares during the period. Meeder Asset Management Inc.’s holdings in Landstar System were worth $521,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LSTR. USA Financial Portformulas Corp boosted its position in shares of Landstar System by 20.2% in the fourth quarter. USA Financial Portformulas Corp now owns 18,576 shares of the transportation company’s stock worth $1,585,000 after buying an additional 3,117 shares during the period. Oxford Asset Management bought a new position in shares of Landstar System during the first quarter worth about $374,000. Parametrica Management Ltd bought a new position in shares of Landstar System during the first quarter worth about $212,000. Retirement Systems of Alabama boosted its position in shares of Landstar System by 1.1% in the first quarter. Retirement Systems of Alabama now owns 106,258 shares of the transportation company’s stock worth $9,101,000 after buying an additional 1,130 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Landstar System during the first quarter worth about $1,204,000. Hedge funds and other institutional investors own 97.46% of the company’s stock.

Landstar System, Inc. (NASDAQ LSTR) opened at 87.30 on Friday. The stock’s 50 day moving average price is $86.28 and its 200 day moving average price is $85.34. The company has a market cap of $3.66 billion, a PE ratio of 26.21 and a beta of 0.76. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $90.80.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, April 26th. The transportation company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.73 by $0.04. Landstar System had a return on equity of 26.51% and a net margin of 4.34%. The company had revenue of $780.90 million for the quarter, compared to analyst estimates of $757.56 million. During the same quarter in the prior year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Landstar System, Inc. will post $3.55 EPS for the current year.

LSTR has been the topic of a number of recent analyst reports. BidaskClub cut Landstar System from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Cowen and Company lifted their price objective on Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a report on Thursday, April 27th. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Thursday, July 6th. Finally, Stifel Nicolaus lifted their price objective on Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a report on Friday, April 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $85.50.

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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