Principal Financial Group Inc. boosted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 14.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,273 shares of the transportation company’s stock after buying an additional 19,007 shares during the quarter. Principal Financial Group Inc. owned approximately 0.40% of Landstar System worth $21,417,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Castle Wealth Management LLC acquired a new stake in Landstar System in the 2nd quarter worth approximately $36,000. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Landstar System by 124.1% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 260 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 144 shares during the period. Lazard Asset Management LLC acquired a new position in Landstar System in the second quarter valued at about $43,000. Prospera Financial Services Inc acquired a new position in Landstar System in the first quarter valued at about $53,000. Finally, Venture Visionary Partners LLC acquired a new stake in shares of Landstar System during the second quarter worth about $54,000. Institutional investors own 98.90% of the company’s stock.
Analysts Set New Price Targets
LSTR has been the topic of a number of recent research reports. StockNews.com began coverage on shares of Landstar System in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Benchmark began coverage on Landstar System in a research note on Tuesday, September 6th. They set a “hold” rating for the company. Wells Fargo & Company reduced their price objective on Landstar System from $143.00 to $142.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 12th. Jefferies Financial Group started coverage on Landstar System in a research report on Monday, October 24th. They set a “hold” rating and a $145.00 price target on the stock. Finally, Susquehanna Bancshares upped their target price on Landstar System from $147.00 to $150.00 and gave the company a “neutral” rating in a research report on Friday, October 21st. One equities research analyst has rated the stock with a sell rating and eight have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $150.70.
Insider Activity at Landstar System
Landstar System Trading Up 0.7 %
Shares of Landstar System stock opened at $165.99 on Monday. Landstar System, Inc. has a fifty-two week low of $137.15 and a fifty-two week high of $182.00. The firm has a market cap of $5.96 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.18 and a beta of 0.90. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $151.09 and a 200-day simple moving average of $150.10.
Landstar System (NASDAQ:LSTR – Get Rating) last announced its earnings results on Wednesday, October 19th. The transportation company reported $2.76 EPS for the quarter, meeting the consensus estimate of $2.76. Landstar System had a return on equity of 52.31% and a net margin of 5.85%. The business had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the prior year, the business posted $2.58 earnings per share. Landstar System’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts forecast that Landstar System, Inc. will post 11.77 EPS for the current fiscal year.
Landstar System Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Tuesday, November 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, November 7th. Landstar System’s dividend payout ratio is 9.88%.
About Landstar System
Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. The company 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, small package and less-than-truckload service providers.
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