Landstar System, Inc. (LSTR) Position Lowered by Credit Suisse AG
Credit Suisse AG reduced its stake in Landstar System, Inc. (NASDAQ:LSTR) by 18.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,149 shares of the transportation company’s stock after selling 25,398 shares during the quarter. Credit Suisse AG owned about 0.27% of Landstar System worth $13,316,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in Landstar System by 18.0% in the second quarter. BlackRock Inc. now owns 5,021,679 shares of the transportation company’s stock valued at $548,369,000 after buying an additional 764,662 shares during the period. JPMorgan Chase & Co. lifted its stake in Landstar System by 4.2% in the third quarter. JPMorgan Chase & Co. now owns 991,473 shares of the transportation company’s stock valued at $120,961,000 after buying an additional 39,994 shares during the period. Bank of New York Mellon Corp lifted its stake in Landstar System by 3.9% in the second quarter. Bank of New York Mellon Corp now owns 553,881 shares of the transportation company’s stock valued at $60,484,000 after buying an additional 20,564 shares during the period. Wells Fargo & Company MN increased its holdings in shares of Landstar System by 1.1% during the third quarter. Wells Fargo & Company MN now owns 529,927 shares of the transportation company’s stock valued at $64,650,000 after acquiring an additional 5,732 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Landstar System by 3.4% during the second quarter. Janus Henderson Group PLC now owns 528,754 shares of the transportation company’s stock valued at $57,740,000 after acquiring an additional 17,248 shares in the last quarter. 99.89% of the stock is currently owned by institutional investors.
Several equities research analysts have recently commented on LSTR shares. Buckingham Research decreased their price objective on Landstar System from $127.00 to $121.00 and set a “neutral” rating for the company in a report on Friday, October 12th. Goldman Sachs Group downgraded Landstar System from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $143.00 to $123.00 in a report on Thursday, November 8th. BidaskClub downgraded Landstar System from a “hold” rating to a “sell” rating in a report on Friday, October 12th. Wells Fargo & Co upgraded Landstar System from a “market perform” rating to an “outperform” rating and decreased their price objective for the company from $115.65 to $98.00 in a report on Wednesday, August 22nd. Finally, Cleveland Research started coverage on Landstar System in a report on Friday, October 19th. They set a “neutral” rating for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $117.00.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, October 24th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.60 by $0.03. Landstar System had a return on equity of 33.82% and a net margin of 5.61%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.20 billion. On average, equities analysts anticipate that Landstar System, Inc. will post 6.08 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Tuesday, November 13th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Friday, November 9th. This represents a $0.66 annualized dividend and a yield of 0.65%. Landstar System’s dividend payout ratio (DPR) is currently 17.60%.
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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, including third party logistics and less-than-truckload service providers.
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