Tokio Marine Asset Management Co. Ltd. Makes New $400,000 Investment in Landstar System, Inc. (NASDAQ:LSTR)

Tokio Marine Asset Management Co. Ltd. acquired a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,700 shares of the transportation company’s stock, valued at approximately $400,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of LSTR. Advisory Services Network LLC raised its holdings in Landstar System by 130.3% in the 1st quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock worth $31,000 after purchasing an additional 159 shares in the last quarter. Manchester Capital Management LLC bought a new position in Landstar System in the 1st quarter worth $65,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Landstar System in the 2nd quarter worth $82,000. Zions Bancorporation N.A. bought a new position in Landstar System in the 1st quarter worth $192,000. Finally, Rockefeller Capital Management L.P. bought a new position in Landstar System in the 1st quarter worth $244,000. Institutional investors and hedge funds own 98.66% of the company’s stock.

LSTR has been the subject of several research reports. Buckingham Research decreased their price target on shares of Landstar System from $121.00 to $112.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Morgan Stanley set a $91.00 price target on shares of Landstar System and gave the stock a “sell” rating in a research note on Monday, July 8th. Stifel Nicolaus increased their price target on shares of Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded shares of Landstar System from a “sell” rating to a “hold” rating and set a $117.00 price target for the company in a research note on Wednesday, July 31st. Finally, Raymond James upgraded shares of Landstar System from an “underperform” rating to a “market perform” rating and set a $107.82 price target for the company in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $110.90.

Shares of Landstar System stock traded up $0.92 during trading on Tuesday, hitting $107.88. The company’s stock had a trading volume of 67,950 shares, compared to its average volume of 358,710. Landstar System, Inc. has a 52 week low of $90.23 and a 52 week high of $128.70. The business’s fifty day moving average price is $108.23. The firm has a market capitalization of $4.42 billion, a P/E ratio of 17.46, a PEG ratio of 1.48 and a beta of 1.27. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.98 and a quick ratio of 2.00.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.01). Landstar System had a net margin of 5.82% and a return on equity of 36.17%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the company posted $1.51 earnings per share. The business’s revenue for the quarter was down 11.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Landstar System, Inc. will post 6.2 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be given a dividend of $0.185 per share. This represents a $0.74 annualized dividend and a yield of 0.69%. This is an increase from Landstar System’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, August 9th. Landstar System’s dividend payout ratio is 10.68%.

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.

See Also: Liquidity

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

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