Bank of America Corp DE trimmed its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 3.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 329,588 shares of the transportation company’s stock after selling 13,368 shares during the quarter. Bank of America Corp DE owned about 0.80% of Landstar System worth $31,532,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the company. Intercontinental Wealth Advisors LLC bought a new position in Landstar System in the fourth quarter worth approximately $50,000. Essex Savings Bank bought a new position in Landstar System in the fourth quarter worth approximately $67,000. Penserra Capital Management LLC bought a new position in Landstar System in the fourth quarter worth approximately $79,000. Quantamental Technologies LLC bought a new position in Landstar System in the fourth quarter worth approximately $116,000. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Landstar System by 205.8% in the third quarter. Tower Research Capital LLC TRC now owns 1,471 shares of the transportation company’s stock valued at $179,000 after purchasing an additional 990 shares in the last quarter. Hedge funds and other institutional investors own 98.65% of the company’s stock.
LSTR has been the topic of a number of recent research reports. BidaskClub upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Buckingham Research set a $115.00 target price on Landstar System and gave the company a “hold” rating in a report on Saturday, February 2nd. Cowen restated a “hold” rating and issued a $100.00 target price on shares of Landstar System in a report on Wednesday, January 30th. Finally, Zacks Investment Research downgraded Landstar System from a “hold” rating to a “sell” rating in a research report on Friday, January 4th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Landstar System has a consensus rating of “Hold” and a consensus target price of $111.70.
Shares of NASDAQ LSTR opened at $111.64 on Tuesday. The firm has a market capitalization of $4.52 billion, a PE ratio of 18.06, a P/E/G ratio of 1.46 and a beta of 1.20. Landstar System, Inc. has a fifty-two week low of $90.23 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.81 and a quick ratio of 1.81.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 30th. The transportation company reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.58 by $0.10. The company had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 36.70% and a net margin of 5.53%. The firm’s quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.51 earnings per share. As a group, equities research analysts predict that Landstar System, Inc. will post 6.41 earnings per share for the current year.
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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 service providers.
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