Eaton Vance Management grew its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 317,792 shares of the transportation company’s stock after purchasing an additional 11,257 shares during the period. Eaton Vance Management owned about 0.83% of Landstar System worth $42,794,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Fieldpoint Private Securities LLC acquired a new stake in shares of Landstar System in the fourth quarter valued at approximately $35,000. Rational Advisors LLC acquired a new stake in shares of Landstar System in the fourth quarter valued at approximately $48,000. CI Investments Inc. raised its holdings in shares of Landstar System by 116.8% in the fourth quarter. CI Investments Inc. now owns 427 shares of the transportation company’s stock valued at $57,000 after purchasing an additional 230 shares during the last quarter. Globeflex Capital L P acquired a new stake in shares of Landstar System in the fourth quarter valued at approximately $124,000. Finally, Ellevest Inc. raised its holdings in shares of Landstar System by 9.0% in the fourth quarter. Ellevest Inc. now owns 1,088 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 98.82% of the company’s stock.
A number of analysts have recently issued reports on LSTR shares. Cowen lifted their price objective on shares of Landstar System from $131.00 to $153.00 and gave the company a “market perform” rating in a report on Friday, January 29th. The Goldman Sachs Group restated a “sell” rating and set a $140.00 target price (down from $143.00) on shares of Landstar System in a report on Tuesday, March 16th. Wolfe Research downgraded shares of Landstar System from an “outperform” rating to a “peer perform” rating in a report on Friday, February 26th. Robert W. Baird restated a “buy” rating on shares of Landstar System in a report on Sunday, February 21st. Finally, Morgan Stanley boosted their target price on shares of Landstar System from $83.00 to $90.00 and gave the stock an “underweight” rating in a report on Monday, February 1st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $133.85.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, January 27th. The transportation company reported $2.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.25. The company had revenue of $1.30 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Landstar System had a net margin of 4.62% and a return on equity of 28.19%. Landstar System’s quarterly revenue was up 30.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 earnings per share. Research analysts anticipate that Landstar System, Inc. will post 5.36 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 12th. Stockholders of record on Monday, February 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, February 11th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 0.50%. Landstar System’s payout ratio is presently 14.69%.
Landstar System Company Profile
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, such as third party logistics and less-than-truckload service providers.
Further Reading: Portfolio Manager
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