Stone Ridge Asset Management LLC acquired a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 27,479 shares of the transportation company’s stock, valued at approximately $2,861,000. Stone Ridge Asset Management LLC owned about 0.07% of Landstar System as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of LSTR. First Manhattan Co. purchased a new stake in shares of Landstar System in the fourth quarter worth approximately $104,000. Zions Bancorporation purchased a new stake in shares of Landstar System during the third quarter valued at approximately $167,000. Advisory Services Network LLC increased its position in shares of Landstar System by 2,304.0% during the fourth quarter. Advisory Services Network LLC now owns 1,803 shares of the transportation company’s stock valued at $188,000 after acquiring an additional 1,728 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Landstar System during the third quarter valued at approximately $210,000. Finally, Strategic Global Advisors LLC purchased a new stake in shares of Landstar System during the third quarter valued at approximately $212,000. 99.86% of the stock is owned by hedge funds and other institutional investors.
LSTR has been the subject of a number of research analyst reports. KeyCorp reaffirmed a “buy” rating and set a $125.00 price target on shares of Landstar System in a research report on Friday, February 2nd. Cleveland Research raised Landstar System from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a research report on Tuesday, January 16th. BidaskClub downgraded Landstar System from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 3rd. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $105.00 price target on shares of Landstar System in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $107.50.
Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Wednesday, January 31st. The transportation company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.06. Landstar System had a return on equity of 25.30% and a net margin of 4.86%. The business had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period in the prior year, the company earned $0.94 earnings per share. Landstar System’s revenue was up 17.8% compared to the same quarter last year. equities research analysts predict that Landstar System, Inc. will post 5.12 EPS for the current year.
Landstar System declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 13th that permits the company to buyback 1,960,000 shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Monday, February 19th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.53%. This is a positive change from Landstar System’s previous quarterly dividend of $0.10. The ex-dividend date is Thursday, February 15th. Landstar System’s dividend payout ratio is 14.25%.
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Landstar System Profile
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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