Laurion Capital Management LP grew its position in Landstar System, Inc. (NASDAQ:LSTR) by 22.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,699 shares of the transportation company’s stock after buying an additional 4,199 shares during the period. Laurion Capital Management LP owned 0.06% of Landstar System worth $2,479,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Landstar System by 890.7% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,070 shares of the transportation company’s stock valued at $117,000 after buying an additional 962 shares in the last quarter. Atria Investments LLC bought a new stake in shares of Landstar System in the 1st quarter valued at about $202,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of Landstar System in the 2nd quarter valued at about $205,000. Hartford Investment Management Co. acquired a new stake in Landstar System in the 2nd quarter worth approximately $208,000. Finally, NumerixS Investment Technologies Inc boosted its stake in Landstar System by 216.7% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 1,900 shares of the transportation company’s stock worth $209,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors and hedge funds own 97.30% of the company’s stock.
A number of analysts recently commented on LSTR shares. BidaskClub cut shares of Landstar System from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 30th. KeyCorp reaffirmed a “buy” rating and set a $130.00 target price (up from $125.00) on shares of Landstar System in a report on Thursday, July 26th. Stifel Nicolaus raised shares of Landstar System from a “hold” rating to a “buy” rating and lifted their target price for the company from $123.00 to $128.00 in a report on Monday, July 30th. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a report on Thursday, June 28th. Finally, Cowen reaffirmed a “market perform” rating and set a $113.00 target price (up from $108.00) on shares of Landstar System in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $119.25.
NASDAQ:LSTR opened at $122.55 on Monday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.10. The company has a market cap of $5.04 billion, a PE ratio of 32.68, a PEG ratio of 1.50 and a beta of 0.87. Landstar System, Inc. has a 1-year low of $92.70 and a 1-year high of $124.10.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, July 25th. The transportation company reported $1.51 earnings per share for the quarter, missing the consensus estimate of $1.53 by ($0.02). The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a net margin of 5.38% and a return on equity of 31.06%. Landstar System’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned $0.89 earnings per share. analysts expect that Landstar System, Inc. will post 6.07 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 31st. Investors of record on Monday, August 13th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Friday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.15. Landstar System’s payout ratio is presently 17.60%.
In related news, CMO Patrick J. O’malley sold 1,812 shares of the business’s stock in a transaction on Tuesday, June 12th. The shares were sold at an average price of $115.62, for a total value of $209,503.44. Following the completion of the sale, the chief marketing officer now owns 32,830 shares of the company’s stock, valued at approximately $3,795,804.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Joseph J. Beacom sold 3,000 shares of the business’s stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $119.52, for a total transaction of $358,560.00. Following the completion of the sale, the chief operating officer now directly owns 33,702 shares of the company’s stock, valued at approximately $4,028,063.04. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.
About Landstar System
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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