Profund Advisors LLC cut its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 7.6% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 3,613 shares of the transportation company’s stock after selling 297 shares during the quarter. Profund Advisors LLC’s holdings in Landstar System were worth $390,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its position in shares of Landstar System by 27.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 684,082 shares of the transportation company’s stock worth $73,874,000 after buying an additional 147,056 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Landstar System by 1.8% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 874,193 shares of the transportation company’s stock worth $95,628,000 after buying an additional 15,101 shares in the last quarter. Retirement Systems of Alabama boosted its position in shares of Landstar System by 3.1% in the 2nd quarter. Retirement Systems of Alabama now owns 104,530 shares of the transportation company’s stock worth $11,288,000 after buying an additional 3,150 shares in the last quarter. APG Asset Management N.V. boosted its position in shares of Landstar System by 81.8% in the 2nd quarter. APG Asset Management N.V. now owns 228,900 shares of the transportation company’s stock worth $21,706,000 after buying an additional 103,000 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Landstar System in the 2nd quarter worth about $917,000.
LSTR has been the topic of several recent research reports. Deutsche Bank set a $107.00 price objective on shares of Landstar System and gave the stock a “hold” rating in a research report on Thursday, July 11th. SunTrust Banks set a $110.00 target price on shares of Landstar System and gave the company a “hold” rating in a report on Friday, July 26th. Credit Suisse Group set a $103.00 target price on shares of Landstar System and gave the company a “hold” rating in a report on Sunday, September 15th. BidaskClub upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Wednesday, September 4th. Finally, Morgan Stanley set a $91.00 target price on shares of Landstar System and gave the company a “sell” rating in a report on Monday, July 8th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Landstar System presently has an average rating of “Hold” and an average price target of $112.17.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.54 by ($0.01). The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Landstar System had a net margin of 5.82% and a return on equity of 36.17%. Landstar System’s revenue for the quarter was down 11.6% on a year-over-year basis. During the same quarter last year, the company posted $1.51 earnings per share. As a group, research analysts forecast that Landstar System, Inc. will post 6.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Monday, August 12th were issued a dividend of $0.185 per share. This is a positive change from Landstar System’s previous quarterly dividend of $0.17. This represents a $0.74 annualized dividend and a dividend yield of 0.65%. The ex-dividend date was Friday, August 9th. 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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