GHP Investment Advisors Inc. increased its position in Landstar System, Inc. (NASDAQ:LSTR) by 2.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,494 shares of the transportation company’s stock after buying an additional 1,221 shares during the quarter. GHP Investment Advisors Inc. owned 0.14% of Landstar System worth $6,101,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Geode Capital Management LLC increased its position in shares of Landstar System by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 456,374 shares of the transportation company’s stock worth $43,660,000 after buying an additional 29,381 shares during the period. Deutsche Bank AG increased its position in shares of Landstar System by 10.2% during the fourth quarter. Deutsche Bank AG now owns 93,146 shares of the transportation company’s stock worth $8,909,000 after buying an additional 8,649 shares during the period. Virtu Financial LLC acquired a new stake in shares of Landstar System during the first quarter worth $459,000. Nisa Investment Advisors LLC increased its position in shares of Landstar System by 2.4% during the first quarter. Nisa Investment Advisors LLC now owns 12,800 shares of the transportation company’s stock worth $1,400,000 after buying an additional 300 shares during the period. Finally, Clarkston Capital Partners LLC grew its holdings in Landstar System by 2.7% in the first quarter. Clarkston Capital Partners LLC now owns 624,376 shares of the transportation company’s stock worth $68,300,000 after purchasing an additional 16,460 shares during the period. 98.66% of the stock is currently owned by institutional investors and hedge funds.
LSTR has been the subject of a number of research reports. BidaskClub cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Friday, July 12th. Credit Suisse Group reduced their price target on shares of Landstar System from $104.00 to $103.00 and set a “neutral” rating for the company in a report on Friday, July 26th. 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 report on Tuesday, July 2nd. Cowen restated a “hold” rating and issued a $119.00 price target on shares of Landstar System in a report on Thursday, July 25th. Finally, Wolfe Research upgraded shares of Landstar System from an “underperform” rating to a “peer perform” rating in a report on Friday, June 28th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company. Landstar System has an average rating of “Hold” and a consensus price target of $110.90.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.01). Landstar System had a net margin of 5.82% and a return on equity of 36.17%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $1.51 earnings per share. The firm’s quarterly revenue was down 11.6% on a year-over-year basis. As a group, research analysts forecast that Landstar System, Inc. will post 6.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 12th will be paid a $0.185 dividend. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.69%. This is a positive change 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 (DPR) is 11.97%.
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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