Landstar System, Inc. (LSTR) Position Raised by Burney Co.
Burney Co. boosted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 6.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,260 shares of the transportation company’s stock after buying an additional 3,159 shares during the period. Burney Co. owned 0.12% of Landstar System worth $4,219,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Glen Harbor Capital Management LLC raised its stake in shares of Landstar System by 11.9% in the first quarter. Glen Harbor Capital Management LLC now owns 1,200 shares of the transportation company’s stock worth $103,000 after buying an additional 128 shares in the last quarter. Tyers Asset Management LLC acquired a new position in Landstar System during the fourth quarter valued at about $126,000. TrimTabs Asset Management LLC increased its position in Landstar System by 89.0% in the first quarter. TrimTabs Asset Management LLC now owns 1,580 shares of the transportation company’s stock valued at $135,000 after buying an additional 744 shares during the last quarter. Pacad Investment Ltd. increased its position in Landstar System by 272.1% in the fourth quarter. Pacad Investment Ltd. now owns 1,600 shares of the transportation company’s stock valued at $136,000 after buying an additional 1,170 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Landstar System by 36.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,600 shares of the transportation company’s stock valued at $137,000 after buying an additional 427 shares during the last quarter. Institutional investors and hedge funds own 97.94% of the company’s stock.
Landstar System, Inc. (NASDAQ:LSTR) traded down 0.40% on Friday, reaching $87.75. 729,164 shares of the company’s stock were exchanged. Landstar System, Inc. has a 52-week low of $64.82 and a 52-week high of $90.80. The company has a market cap of $3.68 billion, a PE ratio of 26.34 and a beta of 0.73. The firm’s 50 day moving average price is $84.17 and its 200 day moving average price is $85.23.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, April 26th. The transportation company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.73 by $0.04. The firm had revenue of $780.90 million for the quarter, compared to analysts’ expectations of $757.56 million. Landstar System had a net margin of 4.34% and a return on equity of 26.51%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.69 earnings per share. On average, analysts expect that Landstar System, Inc. will post $3.53 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Thursday, May 11th were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Tuesday, May 9th. Landstar System’s payout ratio is currently 10.81%.
LSTR has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Tuesday, February 28th. BidaskClub raised shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus lifted their price target on shares of Landstar System from $81.00 to $87.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Cowen and Company lifted their price target on shares of Landstar System from $76.00 to $82.00 and gave the company a “market perform” rating in a research note on Thursday, April 27th. Finally, Credit Suisse Group reaffirmed a “neutral” rating and issued a $83.00 price target (up from $82.00) on shares of Landstar System in a research note on Monday, March 6th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Landstar System presently has a consensus rating of “Hold” and an average price target of $85.33.
About Landstar System
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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