Richard Bernstein Advisors LLC Purchases New Position in Landstar System, Inc. (LSTR)
Richard Bernstein Advisors LLC bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 37,680 shares of the transportation company’s stock, valued at approximately $4,115,000. Richard Bernstein Advisors LLC owned about 0.09% of Landstar System as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Landstar System by 18.0% during the 2nd quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock worth $548,369,000 after buying an additional 764,662 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Landstar System by 9.4% during the 2nd quarter. Victory Capital Management Inc. now owns 1,529,354 shares of the transportation company’s stock worth $167,005,000 after buying an additional 130,937 shares during the last quarter. Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Landstar System by 2.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,228,108 shares of the transportation company’s stock worth $134,663,000 after buying an additional 31,796 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Landstar System by 3.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 553,881 shares of the transportation company’s stock worth $60,484,000 after buying an additional 20,564 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Landstar System by 157.3% during the 1st quarter. Millennium Management LLC now owns 531,453 shares of the transportation company’s stock worth $58,274,000 after buying an additional 324,924 shares during the last quarter. Institutional investors own 99.69% of the company’s stock.
In related news, CMO Patrick J. O’malley sold 1,812 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $115.62, for a total transaction of $209,503.44. Following the transaction, the chief marketing officer now directly owns 32,830 shares of the company’s stock, valued at $3,795,804.60. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.00% of the stock is currently owned by company insiders.
NASDAQ:LSTR opened at $115.95 on Friday. Landstar System, Inc. has a 52 week low of $85.30 and a 52 week high of $118.60. The stock has a market cap of $4.76 billion, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.82 and a current ratio of 1.82.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 25th. The transportation company reported $1.51 EPS for the quarter, missing analysts’ consensus estimates of $1.53 by ($0.02). Landstar System had a return on equity of 31.06% and a net margin of 5.38%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business posted $0.89 earnings per share. Landstar System’s revenue was up 35.9% compared to the same quarter last year. equities research analysts anticipate that Landstar System, Inc. will post 6.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Investors of record on Monday, August 13th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.57%. This is a positive change from Landstar System’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Friday, August 10th. Landstar System’s dividend payout ratio (DPR) is currently 17.60%.
Landstar System 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, including third party logistics and less-than-truckload service providers.
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