Fenimore Asset Management Inc. increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 16.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,887 shares of the transportation company’s stock after buying an additional 56,845 shares during the period. Landstar System comprises approximately 1.4% of Fenimore Asset Management Inc.’s holdings, making the stock its 28th largest holding. Fenimore Asset Management Inc. owned about 1.00% of Landstar System worth $43,184,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Landstar System by 2.9% during the fourth quarter. Thrivent Financial for Lutherans now owns 10,442 shares of the transportation company’s stock worth $999,000 after purchasing an additional 299 shares during the period. Legal & General Group Plc lifted its holdings in Landstar System by 1.7% in the fourth quarter. Legal & General Group Plc now owns 57,128 shares of the transportation company’s stock valued at $5,465,000 after acquiring an additional 934 shares during the period. Cetera Advisor Networks LLC raised its stake in shares of Landstar System by 26.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 3,941 shares of the transportation company’s stock worth $378,000 after buying an additional 827 shares during the period. Amalgamated Bank raised its stake in shares of Landstar System by 58.1% during the 4th quarter. Amalgamated Bank now owns 9,604 shares of the transportation company’s stock worth $919,000 after buying an additional 3,528 shares during the period. Finally, APG Asset Management N.V. raised its stake in shares of Landstar System by 107.5% during the 4th quarter. APG Asset Management N.V. now owns 135,100 shares of the transportation company’s stock worth $11,306,000 after buying an additional 70,000 shares during the period. Hedge funds and other institutional investors own 98.66% of the company’s stock.
Several research analysts have recently weighed in on LSTR shares. Cowen reaffirmed a “hold” rating and set a $119.00 target price on shares of Landstar System in a research note on Thursday, July 25th. Wolfe Research raised Landstar System from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 28th. Zacks Investment Research raised Landstar System from a “sell” rating to a “hold” rating and set a $117.00 target price for the company in a research note on Wednesday, July 31st. Buckingham Research reduced their target price on Landstar System from $121.00 to $112.00 and set a “neutral” rating for the company in a research note on Friday, June 7th. Finally, Stifel Nicolaus upped their target price on Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Landstar System presently has a consensus rating of “Hold” and a consensus price target of $110.90.
Shares of LSTR opened at $104.56 on Friday. The stock has a 50 day moving average price of $109.24 and a 200 day moving average price of $107.63. Landstar System, Inc. has a one year low of $90.23 and a one year high of $128.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.98 and a current ratio of 1.98. The stock has a market capitalization of $4.37 billion, a price-to-earnings ratio of 16.92, a PEG ratio of 1.49 and a beta of 1.27.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, July 24th. The transportation company reported $1.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.01). Landstar System had a return on equity of 36.17% and a net margin of 5.82%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $1.51 EPS. Landstar System’s revenue was down 11.6% on a year-over-year basis. On average, analysts predict that Landstar System, Inc. will post 6.16 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Monday, August 12th will be issued a $0.185 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $0.74 dividend on an annualized basis and a dividend yield of 0.71%. This is an increase from Landstar System’s previous quarterly dividend of $0.17. Landstar System’s dividend payout ratio is presently 11.97%.
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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