Landstar System, Inc. (LSTR) Shares Sold by Bank of America Corp DE

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.

In related news, CFO L Kevin Stout sold 6,000 shares of Landstar System stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $110.99, for a total transaction of $665,940.00. Following the completion of the sale, the chief financial officer now owns 47,204 shares of the company’s stock, valued at $5,239,171.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James B. Gattoni sold 19,481 shares of Landstar System stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $110.68, for a total value of $2,156,157.08. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.

COPYRIGHT VIOLATION NOTICE: “Landstar System, Inc. (LSTR) Shares Sold by Bank of America Corp DE” was first reported by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this story on another publication, it was copied illegally and reposted in violation of U.S. and international trademark and copyright law. The original version of this story can be read at https://www.baseballdailydigest.com/news/2019/04/16/landstar-system-inc-lstr-shares-sold-by-bank-of-america-corp-de.html.

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.

Read More: Institutional Investors

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.