Landstar System, Inc. (LSTR) Shares Bought by Cetera Advisor Networks LLC
Cetera Advisor Networks LLC lifted its position in Landstar System, Inc. (NASDAQ:LSTR) by 4.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,101 shares of the transportation company’s stock after acquiring an additional 160 shares during the quarter. Cetera Advisor Networks LLC’s holdings in Landstar System were worth $449,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of LSTR. FMR LLC increased its stake in shares of Landstar System by 4.8% during the 4th quarter. FMR LLC now owns 908,274 shares of the transportation company’s stock worth $86,895,000 after purchasing an additional 41,830 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Landstar System during the 1st quarter worth $459,000. Texas Permanent School Fund increased its stake in shares of Landstar System by 4.1% during the 4th quarter. Texas Permanent School Fund now owns 26,905 shares of the transportation company’s stock worth $2,574,000 after purchasing an additional 1,049 shares during the last quarter. Stone Ridge Asset Management LLC increased its stake in shares of Landstar System by 19.5% during the 4th quarter. Stone Ridge Asset Management LLC now owns 34,780 shares of the transportation company’s stock worth $3,327,000 after purchasing an additional 5,675 shares during the last quarter. Finally, Raymond James Trust N.A. increased its stake in shares of Landstar System by 2.8% during the 4th quarter. Raymond James Trust N.A. now owns 4,090 shares of the transportation company’s stock worth $391,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 98.65% of the company’s stock.
In related 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 value of $570,600.00. Following the transaction, the chief operating officer now directly owns 45,924 shares in the company, valued at approximately $5,240,846.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the transaction, the chief marketing officer now owns 20,929 shares in the company, valued at $2,319,351.78. The disclosure for this sale can be found here. Insiders sold a total of 47,481 shares of company stock worth $5,275,617 over the last quarter. 1.00% of the stock is currently owned by company insiders.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The business had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the business posted $1.37 EPS. Landstar System’s revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Landstar System, Inc. will post 6.41 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Thursday, May 9th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.66 dividend on an annualized basis and a yield of 0.63%. Landstar System’s payout ratio is presently 10.68%.
Several research analysts have recently commented on the stock. BidaskClub lowered shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Thursday. Stifel Nicolaus increased their price target 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. Cowen restated a “market perform” rating and set a $115.00 price target (up previously from $110.00) on shares of Landstar System in a research note on Thursday, April 25th. Finally, Buckingham Research dropped their price target on shares of Landstar System from $115.00 to $114.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $113.22.
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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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