Ajo LP Trims Stake in Landstar System, Inc. (LSTR)

Ajo LP lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 17.4% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,108 shares of the transportation company’s stock after selling 3,603 shares during the quarter. Ajo LP’s holdings in Landstar System were worth $1,464,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LSTR. BlackRock Inc. lifted its position in shares of Landstar System by 7,684.2% during the first quarter. BlackRock Inc. now owns 4,087,876 shares of the transportation company’s stock worth $350,127,000 after purchasing an additional 4,035,361 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Landstar System by 641.1% during the second quarter. Alliancebernstein L.P. now owns 192,125 shares of the transportation company’s stock worth $16,446,000 after purchasing an additional 166,201 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in shares of Landstar System by 147,683.5% during the second quarter. Old Mutual Global Investors UK Ltd. now owns 152,217 shares of the transportation company’s stock worth $13,029,000 after purchasing an additional 152,114 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Landstar System by 4.0% during the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock worth $289,747,000 after purchasing an additional 130,461 shares in the last quarter. Finally, Marshall Wace North America L.P. lifted its position in shares of Landstar System by 1,792.4% during the second quarter. Marshall Wace North America L.P. now owns 121,471 shares of the transportation company’s stock worth $10,447,000 after purchasing an additional 115,052 shares in the last quarter. 96.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at 95.00 on Wednesday. Landstar System, Inc. has a one year low of $65.05 and a one year high of $96.20. The firm has a market cap of $3.98 billion, a PE ratio of 27.44 and a beta of 0.74. The company has a 50-day moving average of $87.72 and a 200 day moving average of $85.85.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million for the quarter, compared to analyst estimates of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. Landstar System’s revenue for the quarter was up 12.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 EPS. On average, equities research analysts expect that Landstar System, Inc. will post $3.57 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 14th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. This represents a $0.40 annualized dividend and a yield of 0.42%. Landstar System’s payout ratio is 11.56%.

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Several brokerages recently weighed in on LSTR. Stifel Nicolaus reaffirmed a “buy” rating and issued a $95.00 target price on shares of Landstar System in a report on Tuesday, September 12th. Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $88.00 to $103.00 in a report on Wednesday, August 30th. Cowen and Company reaffirmed a “hold” rating and issued a $86.00 target price on shares of Landstar System in a report on Monday, August 28th. Morgan Stanley raised their target price on shares of Landstar System from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, August 7th. Finally, Zacks Investment Research cut shares of Landstar System from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $87.63.

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.

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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