Landstar System, Inc. (LSTR) Stake Raised by Riverhead Capital Management LLC
Riverhead Capital Management LLC increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 57.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,998 shares of the transportation company’s stock after acquiring an additional 1,098 shares during the quarter. Riverhead Capital Management LLC’s holdings in Landstar System were worth $257,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LSTR. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Landstar System by 36.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,600 shares of the transportation company’s stock valued at $137,000 after acquiring an additional 427 shares during the period. IFP Advisors Inc raised its holdings in shares of Landstar System by 2.9% during the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 47 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Landstar System during the first quarter valued at approximately $223,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Landstar System during the first quarter valued at approximately $250,000. Finally, Trexquant Investment LP acquired a new stake in shares of Landstar System during the first quarter valued at approximately $251,000. Institutional investors and hedge funds own 96.99% of the company’s stock.
Landstar System, Inc. (NASDAQ:LSTR) opened at 99.35 on Thursday. Landstar System, Inc. has a 12 month low of $65.05 and a 12 month high of $99.70. The stock has a market capitalization of $4.17 billion, a P/E ratio of 28.70 and a beta of 0.74. The company’s 50-day moving average is $87.72 and its 200-day moving average is $85.85.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The firm had revenue of $870.34 million for the quarter, compared to the consensus estimate of $859.30 million. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. Equities analysts anticipate that Landstar System, Inc. will post $3.57 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 10th. This is an increase from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 dividend on an annualized basis and a yield of 0.40%. Landstar System’s payout ratio is presently 11.56%.
A number of equities research analysts have recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Stifel Nicolaus upgraded shares of Landstar System from a “hold” rating to a “buy” rating and boosted their price target for the company from $87.00 to $95.00 in a report on Monday, July 31st. BidaskClub lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Finally, Stephens upgraded shares of Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $88.00 to $103.00 in a report on Wednesday, August 30th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. Landstar System has an average rating of “Hold” and a consensus price target of $87.63.
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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