Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 40.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,563 shares of the transportation company’s stock after buying an additional 739 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Landstar System were worth $267,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings in shares of Landstar System by 22.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 373 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Landstar System by 11.7% in the 3rd quarter. Pacer Advisors Inc. now owns 5,000 shares of the transportation company’s stock valued at $498,000 after purchasing an additional 525 shares in the last quarter. TrimTabs Asset Management LLC raised its holdings in shares of Landstar System by 17.1% in the 3rd quarter. TrimTabs Asset Management LLC now owns 3,794 shares of the transportation company’s stock valued at $378,000 after purchasing an additional 555 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Landstar System by 64.8% in the 2nd quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 599 shares in the last quarter. Finally, Swiss National Bank raised its holdings in shares of Landstar System by 1.2% in the 3rd quarter. Swiss National Bank now owns 70,100 shares of the transportation company’s stock valued at $6,985,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 97.96% of the company’s stock.
In related news, Director Dr. Homaira Akbari sold 1,000 shares of Landstar System stock in a transaction on Friday, November 24th. The shares were sold at an average price of $98.30, for a total transaction of $98,300.00. Following the sale, the director now directly owns 6,656 shares in the company, valued at approximately $654,284.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.
Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at $111.00 on Tuesday. Landstar System, Inc. has a one year low of $80.00 and a one year high of $118.60. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.96 and a current ratio of 1.75. The company has a market cap of $4,661.00, a price-to-earnings ratio of 26.37, a P/E/G ratio of 1.65 and a beta of 0.81.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.06. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the business earned $0.94 EPS. Landstar System’s revenue for the quarter was up 17.8% compared to the same quarter last year. analysts predict that Landstar System, Inc. will post 4.98 earnings per share for the current fiscal year.
Landstar System announced that its Board of Directors has approved a stock buyback program on Wednesday, December 13th that authorizes the company to buyback 1,960,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 16th. Investors of record on Monday, February 19th will be paid a dividend of $0.15 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. This represents a $0.60 annualized dividend and a yield of 0.54%. The ex-dividend date is Thursday, February 15th. Landstar System’s dividend payout ratio (DPR) is currently 14.25%.
A number of brokerages have recently weighed in on LSTR. Cowen restated a “market perform” rating and issued a $115.00 price objective (up from $97.00) on shares of Landstar System in a report on Thursday, February 1st. KeyCorp restated a “buy” rating and issued a $125.00 price objective on shares of Landstar System in a report on Friday, February 2nd. Buckingham Research raised their price objective on shares of Landstar System from $114.00 to $126.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Cleveland Research upgraded shares of Landstar System from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a report on Tuesday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company’s stock. Landstar System currently has an average rating of “Hold” and a consensus price target of $105.75.
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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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