Acadian Asset Management LLC lowered its stake in Landstar System, Inc. (NASDAQ:LSTR) by 43.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,605 shares of the transportation company’s stock after selling 18,459 shares during the quarter. Acadian Asset Management LLC owned about 0.06% of Landstar System worth $2,880,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Laurion Capital Management LP lifted its stake in Landstar System by 22.7% in the 2nd quarter. Laurion Capital Management LP now owns 22,699 shares of the transportation company’s stock worth $2,479,000 after purchasing an additional 4,199 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its stake in Landstar System by 6.6% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 73,592 shares of the transportation company’s stock worth $8,036,000 after purchasing an additional 4,567 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its stake in Landstar System by 4.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,380 shares of the transportation company’s stock worth $1,789,000 after purchasing an additional 650 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Landstar System by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 133,380 shares of the transportation company’s stock worth $14,565,000 after purchasing an additional 1,886 shares in the last quarter. Finally, HWG Holdings LP purchased a new stake in Landstar System in the 3rd quarter worth $1,874,000. Institutional investors and hedge funds own 97.30% of the company’s stock.
Several analysts have commented on LSTR shares. Buckingham Research decreased their price target on shares of Landstar System from $127.00 to $121.00 and set a “neutral” rating on the stock in a research note on Friday, October 12th. Goldman Sachs Group cut shares of Landstar System from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $143.00 to $123.00 in a research note on Thursday. BidaskClub cut shares of Landstar System from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. KeyCorp reiterated a “buy” rating and issued a $130.00 price target (up previously from $125.00) on shares of Landstar System in a research note on Thursday, July 26th. Finally, Cowen restated a “market perform” rating and set a $113.00 target price (up from $108.00) on shares of Landstar System in a research report on Thursday, July 26th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $117.00.
In related news, COO Joseph J. Beacom sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $119.52, for a total transaction of $358,560.00. Following the transaction, the chief operating officer now directly owns 33,702 shares in the company, valued at approximately $4,028,063.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.00% of the company’s stock.
Shares of NASDAQ LSTR opened at $102.71 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.82 and a current ratio of 1.94. The stock has a market cap of $4.38 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.30 and a beta of 1.11. Landstar System, Inc. has a 12-month low of $94.80 and a 12-month high of $128.70.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, October 24th. The transportation company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.03. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Landstar System had a net margin of 5.61% and a return on equity of 33.82%. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.08 EPS for the current year.
The company 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 is Friday, November 9th. This represents a $0.66 annualized dividend and a yield of 0.64%. Landstar System’s payout ratio is 17.60%.
COPYRIGHT VIOLATION NOTICE: “Landstar System, Inc. (LSTR) Shares Sold by Acadian Asset Management LLC” was first posted by American Banking News and is the sole property of of American Banking News. If you are reading this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/11/10/landstar-system-inc-lstr-shares-sold-by-acadian-asset-management-llc.html.
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.
See Also: Price to Earnings Ratio (PE) Basics
Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.