Norges Bank bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 481,932 shares of the company’s stock, valued at approximately $41,109,000. Norges Bank owned about 1.15% of Landstar System as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hussman Strategic Advisors Inc. acquired a new position in Landstar System during the third quarter worth about $123,000. PNC Financial Services Group Inc. increased its position in Landstar System by 1.2% in the third quarter. PNC Financial Services Group Inc. now owns 1,827 shares of the company’s stock worth $125,000 after buying an additional 21 shares in the last quarter. Tyers Asset Management LLC acquired a new position in Landstar System during the fourth quarter worth about $126,000. Pacad Investment Ltd. increased its position in Landstar System by 272.1% in the fourth quarter. Pacad Investment Ltd. now owns 1,600 shares of the company’s stock worth $136,000 after buying an additional 1,170 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Landstar System by 22.3% in the third quarter. Victory Capital Management Inc. now owns 2,086 shares of the company’s stock worth $142,000 after buying an additional 381 shares in the last quarter. Institutional investors own 99.73% of the company’s stock.
Landstar System, Inc. (NASDAQ:LSTR) opened at 83.60 on Friday. The firm has a market cap of $3.50 billion, a P/E ratio of 25.72 and a beta of 0.74. The firm has a 50 day moving average of $86.00 and a 200-day moving average of $79.48. Landstar System, Inc. has a 12 month low of $62.38 and a 12 month high of $90.80.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, February 1st. The company reported $0.94 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.07. The firm had revenue of $893 million for the quarter, compared to the consensus estimate of $830.16 million. Landstar System had a net margin of 4.34% and a return on equity of 27.08%. The company’s revenue was up 5.2% on a year-over-year basis. During the same period last year, the firm posted $0.88 EPS. On average, equities research analysts forecast that Landstar System, Inc. will post $3.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Monday, February 20th were given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Wednesday, February 15th. Landstar System’s dividend payout ratio (DPR) is 11.08%.
A number of research analysts recently issued reports on the stock. Susquehanna Bancshares Inc assumed coverage on shares of Landstar System in a research report on Tuesday, December 20th. They set a “neutral” rating and a $81.00 target price for the company. KeyCorp upgraded shares of Landstar System from a “sector weight” rating to an “overweight” rating in a research report on Friday, January 13th. Zacks Investment Research downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Friday, December 9th. Stifel Nicolaus upgraded shares of Landstar System from a “sell” rating to a “hold” rating and boosted their target price for the company from $72.00 to $79.00 in a research report on Friday, February 10th. Finally, Raymond James Financial, Inc. downgraded shares of Landstar System from a “market perform” rating to an “underperform” rating in a research report on Tuesday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $75.94.
In related news, CFO L Kevin Stout sold 5,448 shares of the stock in a transaction on Wednesday, March 15th. The shares were sold at an average price of $85.65, for a total value of $466,621.20. Following the transaction, the chief financial officer now directly owns 30,397 shares of the company’s stock, valued at approximately $2,603,503.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.30% of the company’s stock.
About Landstar System
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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