Great West Life Assurance Co. Can increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 0.5% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 39,177 shares of the transportation company’s stock after buying an additional 199 shares during the period. Great West Life Assurance Co. Can owned 0.09% of Landstar System worth $3,347,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Landstar System by 7,684.2% in the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after buying an additional 4,035,361 shares during the period. First Trust Advisors LP boosted its stake in shares of Landstar System by 505.1% in the first quarter. First Trust Advisors LP now owns 264,257 shares of the transportation company’s stock valued at $22,634,000 after buying an additional 220,586 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock valued at $289,747,000 after buying an additional 130,461 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Landstar System by 71.7% in the first quarter. Renaissance Technologies LLC now owns 212,340 shares of the transportation company’s stock valued at $18,187,000 after buying an additional 88,700 shares during the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Landstar System by 78.4% in the first quarter. AQR Capital Management LLC now owns 165,261 shares of the transportation company’s stock valued at $14,155,000 after buying an additional 72,636 shares during the last quarter. Institutional investors own 97.10% of the company’s stock.
Landstar System, Inc. (NASDAQ:LSTR) opened at 81.55 on Friday. The stock’s 50 day moving average is $85.38 and its 200 day moving average is $85.20. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $90.80. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of 23.56 and a beta of 0.75.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The business had revenue of $870.34 million during the quarter, compared to the consensus estimate of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The company’s revenue was up 12.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.76 earnings per share. Equities research analysts forecast that Landstar System, Inc. will post $3.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 14th will be issued a $0.10 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Thursday, August 10th. Landstar System’s dividend payout ratio is presently 11.56%.
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Several analysts have commented on LSTR shares. Deutsche Bank AG cut shares of Landstar System from a “buy” rating to a “hold” rating and decreased their price objective for the company from $97.00 to $87.00 in a research note on Monday, July 31st. BidaskClub cut shares of Landstar System from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Cowen and Company lifted their price objective on shares of Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Morgan Stanley lifted their price objective on shares of Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, August 7th. Finally, Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $84.86.
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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