PineBridge Investments LP increased its holdings in Landstar System, Inc. (NASDAQ:LSTR – Free Report ) by 320.7% in the fourth quarter, according to the latest filing with the Securities and Exchange Commission (SEC). The fund now owns 5,911 shares of the transportation company’s stock, acquiring an additional 4,506 shares during the quarter. PineBridge Investments LP’s holdings of Landstar System stock are worth $1,145,000 as of the latest filing with the Securities and Exchange Commission (SEC).
Other large investors also added to or reduced their holdings of the company’s stock. Valley Wealth Managers increased its holdings of Landstar System by 5.3% in the third quarter. Valley Wealth Managers now owns 1,386 shares of the transportation company’s stock, valued at $245,000, after purchasing an additional 70 shares in the last quarter. The North Carolina State Treasurer’s Office increased its holdings of Landstar System by 0.5% in the third quarter. The North Carolina State Treasurer’s Office now owns 15,707 shares of the transportation company’s stock, valued at $2,779,000, after purchasing an additional 80 shares in the period. Mariner LLC increased its holdings of Landstar System by 0.9% in the third quarter. Mariner LLC now owns 9,448 shares of the transportation company’s stock, valued at $1,672,000. Mariner LLC now holds 87 shares of the transportation company’s stock after purchasing an additional 87 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in Landstar System by 17.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 616 shares of the transportation company’s stock, valued at $119,000, after purchasing an additional 92 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Landstar System by 9.9% in the fourth quarter. Quadrant Capital Group LLC now owns 1,045 shares of the transportation company’s stock, valued at $202,000, after purchasing an additional 94 shares in the last quarter. Institutional investors hold 97.95% of the company’s stock.
Landstar System shares fell 0.4%
NASDAQ LSTR shares opened trading at $180.19 on Friday. Landstar System, Inc.’s 52-week low is $161.13 and its 52-week high is $208.62. The company has a market capitalization of $6.44 billion, a price-to-earnings ratio of 27.72 and a beta of 0.83. The stock’s 50-day moving average price is $179.79 and its 200-day moving average price is $185.55. The company’s debt-to-equity ratio is 0.04, quick ratio is 2.22 and current ratio is 2.22.
Landstar System (NASDAQ:LSTR – Get free report ) announced its latest earnings results on Wednesday, April 24th. The transportation company reported quarterly earnings per share of $1.32, beating the consensus estimate of $1.28 by $0.04. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had return on equity of 23.11% and net margin of 4.63%. Sell-side analysts expect Landstar System, Inc. to post earnings per share of $6.31 for the year.
Landstar System Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were paid a dividend of $0.33 per share. This equates to a dividend of $1.32 on an annualized basis, for a yield of 0.73%. The ex-dividend date was Tuesday, May 7th. Landstar System has a dividend payout ratio (DPR) of 20.31%.
Analyst upgrades and downgrades
A number of analysts have recently issued reports on the company. Raymond James initiated coverage on Landstar System in a research report on Wednesday, May 15th. The firm issued an “outperform” rating and a $205.00 price target on the company. Susquehanna lowered their price target on Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a report on Friday, April 26th. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Friday, April 26th. Finally, Stifel Nicolaus lowered their price target on shares of Landstar System from $166.00 to $164.00 and set a “hold” rating on the company in a research report on Monday, April 29th. Nine research analysts have rated the stock with a hold rating and two have assigned a buy rating. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $183.00.
Read our latest analysis on LSTR
Landstar System Company Profile
(Free report)
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 variety of transportation services, including truckload and less than truckload transportation, rail intermodal, air freight, ocean freight, expedited land and air transportation of urgent cargo, heavy/specialized transportation, U.S.-Canada and U.S.-Mexico border transportation, domestic Mexican transportation, domestic Canadian transportation, project cargo, and customs brokerage. It also provides transportation services to other transportation companies, including third-party logistics and less than truckload transportation services.
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