Landstar System, Inc. (LSTR) Holdings Boosted by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 11.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 103,010 shares of the transportation company’s stock after purchasing an additional 10,193 shares during the period. Rhumbline Advisers owned about 0.25% of Landstar System worth $10,265,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in LSTR. Vanguard Group Inc. raised its position in shares of Landstar System by 2.2% during the 2nd quarter. Vanguard Group Inc. now owns 3,457,375 shares of the transportation company’s stock valued at $295,951,000 after acquiring an additional 74,458 shares in the last quarter. Atlanta Capital Management Co. L L C raised its position in shares of Landstar System by 6.5% during the 2nd quarter. Atlanta Capital Management Co. L L C now owns 2,430,445 shares of the transportation company’s stock valued at $208,046,000 after acquiring an additional 147,478 shares in the last quarter. Royce & Associates LP raised its position in shares of Landstar System by 0.5% during the 2nd quarter. Royce & Associates LP now owns 1,355,610 shares of the transportation company’s stock valued at $116,040,000 after acquiring an additional 7,100 shares in the last quarter. FMR LLC raised its position in shares of Landstar System by 64.7% during the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock valued at $103,575,000 after acquiring an additional 475,220 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Landstar System by 3.0% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,081,447 shares of the transportation company’s stock valued at $92,572,000 after acquiring an additional 31,519 shares in the last quarter. 97.47% of the stock is currently owned by institutional investors.

In related news, COO Joseph J. Beacom sold 9,805 shares of the firm’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.32, for a total transaction of $964,027.60. Following the completion of the transaction, the chief operating officer now owns 55,649 shares of the company’s stock, valued at $5,471,409.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO James B. Gattoni sold 15,000 shares of the firm’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $98.72, for a total value of $1,480,800.00. Following the transaction, the chief executive officer now directly owns 69,339 shares of the company’s stock, valued at approximately $6,845,146.08. The disclosure for this sale can be found here. Insiders have sold 39,805 shares of company stock valued at $3,929,828 in the last ninety days. Company insiders own 1.00% of the company’s stock.

LSTR has been the topic of several research reports. Robert W. Baird reissued a “hold” rating and set a $102.00 price target on shares of Landstar System in a research report on Friday, October 6th. Deutsche Bank AG lowered Landstar System from a “buy” rating to a “hold” rating and dropped their price target for the company from $97.00 to $87.00 in a research report on Monday, July 31st. Stifel Nicolaus reissued a “buy” rating and set a $95.00 price target on shares of Landstar System in a research report on Tuesday, September 12th. Stephens raised Landstar System from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $88.00 to $103.00 in a research report on Wednesday, August 30th. Finally, Buckingham Research increased their target price on Landstar System from $103.00 to $106.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $96.67.

Landstar System, Inc. (LSTR) opened at $98.00 on Friday. Landstar System, Inc. has a 52 week low of $80.00 and a 52 week high of $102.55. The stock has a market capitalization of $4,112.67, a price-to-earnings ratio of 27.15, a PEG ratio of 1.97 and a beta of 0.80. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The company had revenue of $943.40 million during the quarter, compared to analysts’ expectations of $895.31 million. During the same quarter in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. research analysts expect that Landstar System, Inc. will post 3.68 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 14th will be paid a dividend of $0.10 per share. The ex-dividend date is Monday, November 13th. This represents a $0.40 annualized dividend and a yield of 0.41%. Landstar System’s dividend payout ratio is currently 11.08%.

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Landstar System Profile

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

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