Amalgamated Bank trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,672 shares of the transportation company's stock after selling 308 shares during the quarter. Amalgamated Bank's holdings in Landstar System were worth $4,325,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Atria Investments LLC grew its holdings in Landstar System by 11.4% in the first quarter. Atria Investments LLC now owns 7,155 shares of the transportation company's stock worth $1,079,000 after purchasing an additional 730 shares during the period. AE Wealth Management LLC acquired a new stake in Landstar System in the first quarter worth $542,000. Envestnet Asset Management Inc. grew its holdings in Landstar System by 1.1% in the first quarter. Envestnet Asset Management Inc. now owns 98,120 shares of the transportation company's stock worth $14,799,000 after purchasing an additional 1,056 shares during the period. Fieldpoint Private Securities LLC grew its holdings in Landstar System by 23.6% in the first quarter. Fieldpoint Private Securities LLC now owns 450 shares of the transportation company's stock worth $68,000 after purchasing an additional 86 shares during the period. Finally, Alaska Permanent Fund Corp grew its holdings in Landstar System by 10.1% in the first quarter. Alaska Permanent Fund Corp now owns 927 shares of the transportation company's stock worth $139,000 after purchasing an additional 85 shares during the period. 98.90% of the stock is currently owned by institutional investors and hedge funds.
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Insiders Place Their Bets
In other Landstar System news, COO Joseph J. Beacom sold 2,863 shares of Landstar System stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $156.56, for a total value of $448,231.28. Following the sale, the chief operating officer now owns 17,805 shares of the company's stock, valued at $2,787,550.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.90% of the company's stock.
Landstar System Stock Down 2.9 %
LSTR opened at $142.26 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.54 and a quick ratio of 1.54. The company's 50-day moving average is $150.07 and its 200 day moving average is $150.00. Landstar System, Inc. has a fifty-two week low of $137.15 and a fifty-two week high of $188.63. The firm has a market capitalization of $5.18 billion, a P/E ratio of 11.89, a PEG ratio of 1.00 and a beta of 0.94.
Landstar System (NASDAQ:LSTR – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The transportation company reported $3.05 earnings per share for the quarter, missing analysts' consensus estimates of $3.25 by ($0.20). The firm had revenue of $1.98 billion for the quarter, compared to the consensus estimate of $2.02 billion. Landstar System had a net margin of 5.89% and a return on equity of 51.73%. The firm's revenue for the quarter was up 25.7% on a year-over-year basis. During the same period in the previous year, the business earned $2.40 earnings per share. Research analysts expect that Landstar System, Inc. will post 11.7 earnings per share for the current fiscal year.
Landstar System Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 8th were given a $0.30 dividend. This is a positive change from Landstar System's previous quarterly dividend of $0.25. The ex-dividend date was Friday, August 5th. This represents a $1.20 annualized dividend and a yield of 0.84%. Landstar System's payout ratio is currently 10.03%.
Wall Street Analysts Forecast Growth
LSTR has been the subject of a number of analyst reports. Evercore ISI reduced their price objective on shares of Landstar System from $173.00 to $161.00 and set an "in-line" rating for the company in a report on Tuesday, July 12th. Susquehanna Bancshares reduced their price objective on shares of Landstar System from $155.00 to $153.00 and set a "neutral" rating for the company in a report on Friday, July 22nd. Benchmark initiated coverage on shares of Landstar System in a report on Tuesday, September 6th. They set a "hold" rating for the company. Wells Fargo & Company reduced their price objective on shares of Landstar System from $165.00 to $147.00 and set an "equal weight" rating for the company in a report on Friday, July 15th. Finally, StockNews.com cut shares of Landstar System from a "buy" rating to a "hold" rating in a report on Saturday, September 3rd. One equities research analyst has rated the stock with a sell rating and ten have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $162.08.
Landstar System Profile
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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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