Denali Advisors LLC raised its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 337.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,800 shares of the transportation company’s stock after acquiring an additional 41,500 shares during the quarter. Denali Advisors LLC owned approximately 0.13% of Landstar System worth $5,885,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in LSTR. BlackRock Inc. raised its stake in shares of Landstar System by 8.9% in the fourth quarter. BlackRock Inc. now owns 5,410,701 shares of the transportation company’s stock valued at $517,643,000 after purchasing an additional 444,387 shares in the last quarter. Vanguard Group Inc. raised its stake in Landstar System by 0.6% during the third quarter. Vanguard Group Inc. now owns 3,687,689 shares of the transportation company’s stock worth $449,897,000 after acquiring an additional 21,365 shares in the last quarter. Vanguard Group Inc raised its stake in Landstar System by 0.6% during the third quarter. Vanguard Group Inc now owns 3,687,689 shares of the transportation company’s stock worth $449,897,000 after acquiring an additional 21,365 shares in the last quarter. Victory Capital Management Inc. raised its stake in Landstar System by 12.8% during the fourth quarter. Victory Capital Management Inc. now owns 1,718,723 shares of the transportation company’s stock worth $164,430,000 after acquiring an additional 195,176 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Landstar System by 4.2% during the third quarter. JPMorgan Chase & Co. now owns 991,473 shares of the transportation company’s stock worth $120,961,000 after acquiring an additional 39,994 shares in the last quarter. 98.65% of the stock is currently owned by institutional investors.
Several analysts have recently commented on LSTR shares. Stifel Nicolaus increased their target price on Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a report on Tuesday. BidaskClub upgraded Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, March 30th. Buckingham Research set a $115.00 price target on Landstar System and gave the company a “hold” rating in a report on Saturday, February 2nd. Cowen reiterated a “hold” rating and issued a $100.00 price target on shares of Landstar System in a report on Wednesday, January 30th. Finally, Zacks Investment Research cut Landstar System from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Landstar System has an average rating of “Hold” and an average target price of $113.22.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.52 by $0.06. Landstar System had a return on equity of 37.24% and a net margin of 5.68%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $1.37 EPS. Landstar System’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts anticipate that Landstar System, Inc. will post 6.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Thursday, May 9th will be paid a $0.165 dividend. The ex-dividend date of this dividend is Wednesday, May 8th. This represents a $0.66 dividend on an annualized basis and a yield of 0.59%. Landstar System’s dividend payout ratio is 10.68%.
In related news, CFO L Kevin Stout sold 6,000 shares of the business’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $110.99, for a total value of $665,940.00. Following the completion of the sale, the chief financial officer now directly owns 47,204 shares in the company, valued at approximately $5,239,171.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of Landstar System stock in a transaction on Monday, April 29th. The shares were sold at an average price of $114.12, for a total value of $570,600.00. Following the completion of the transaction, the chief operating officer now directly owns 45,924 shares of the company’s stock, valued at $5,240,846.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,481 shares of company stock valued at $3,392,697. Corporate insiders own 1.00% of the company’s stock.
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About Landstar System
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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