Tradition Capital Management LLC Grows Stake in Landstar System, Inc. (LSTR)
Tradition Capital Management LLC grew its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,007 shares of the transportation company’s stock after acquiring an additional 315 shares during the period. Tradition Capital Management LLC’s holdings in Landstar System were worth $1,532,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in LSTR. Liberty Capital Management Inc. boosted its holdings in Landstar System by 3.3% in the 1st quarter. Liberty Capital Management Inc. now owns 3,160 shares of the transportation company’s stock worth $346,000 after buying an additional 100 shares during the period. Raymond James Trust N.A. boosted its holdings in Landstar System by 2.8% in the 4th quarter. Raymond James Trust N.A. now owns 4,090 shares of the transportation company’s stock worth $391,000 after buying an additional 110 shares during the period. Eukles Asset Management lifted its stake in Landstar System by 1.8% in the 1st quarter. Eukles Asset Management now owns 7,512 shares of the transportation company’s stock worth $822,000 after purchasing an additional 136 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in Landstar System by 4.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,101 shares of the transportation company’s stock worth $449,000 after purchasing an additional 160 shares in the last quarter. Finally, BB&T Corp lifted its stake in Landstar System by 4.4% in the 4th quarter. BB&T Corp now owns 3,887 shares of the transportation company’s stock worth $372,000 after purchasing an additional 165 shares in the last quarter. 98.65% of the stock is owned by hedge funds and other institutional investors.
NASDAQ LSTR traded up $0.49 on Wednesday, hitting $105.73. The stock had a trading volume of 6,051 shares, compared to its average volume of 406,382. Landstar System, Inc. has a 52-week low of $90.23 and a 52-week high of $128.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. The stock has a market capitalization of $4.18 billion, a PE ratio of 17.06, a P/E/G ratio of 1.35 and a beta of 1.17.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 9th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, May 8th. Landstar System’s dividend payout ratio (DPR) is currently 10.68%.
LSTR has been the topic of several recent analyst reports. Cowen reiterated a “hold” rating and issued a $100.00 target price on shares of Landstar System in a research note on Wednesday, January 30th. BidaskClub upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Buckingham Research set a $115.00 target price on shares of Landstar System and gave the stock a “hold” rating in a research note on Saturday, February 2nd. Finally, Stifel Nicolaus increased their target price on shares of Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and an average price target of $113.22.
In other news, COO Joseph J. Beacom sold 5,000 shares of the firm’s stock in a transaction on Monday, April 29th. The shares were sold at an average price of $114.12, for a total transaction of $570,600.00. Following the sale, the chief operating officer now owns 45,924 shares in the company, valued at approximately $5,240,846.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CMO Patrick J. O’malley sold 23,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the sale, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,481 shares of company stock worth $5,941,557. Corporate insiders own 1.00% of the company’s stock.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It 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.
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