share_log

CI Investments Inc. Reduces Stake in Landstar System, Inc. (NASDAQ:LSTR)

Defense World ·  Sep 8, 2022 07:22

CI Investments Inc. cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR – Get Rating) by 14.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 429 shares of the transportation company's stock after selling 71 shares during the period. CI Investments Inc.'s holdings in Landstar System were worth $65,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UMB Bank N A MO increased its holdings in shares of Landstar System by 821.1% in the first quarter. UMB Bank N A MO now owns 175 shares of the transportation company's stock worth $27,000 after purchasing an additional 156 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in Landstar System by 124.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 260 shares of the transportation company's stock worth $39,000 after acquiring an additional 144 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in shares of Landstar System in the 1st quarter valued at about $53,000. Fieldpoint Private Securities LLC boosted its position in shares of Landstar System by 23.6% during the 1st quarter. Fieldpoint Private Securities LLC now owns 450 shares of the transportation company's stock valued at $68,000 after acquiring an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Landstar System during the first quarter worth about $80,000. 98.90% of the stock is currently owned by institutional investors.

Get Landstar System alerts:

Landstar System Stock Up 0.6 %

Shares of NASDAQ:LSTR opened at $144.45 on Thursday. The stock's 50-day moving average is $150.27 and its 200 day moving average is $150.62. The company has a market cap of $5.26 billion, a PE ratio of 12.08, a P/E/G ratio of 1.03 and a beta of 0.94. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.54 and a quick ratio of 1.54. Landstar System, Inc. has a 1 year low of $137.15 and a 1 year high of $188.63.

Landstar System (NASDAQ:LSTR – Get Rating) last issued its quarterly earnings data 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 business had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2.02 billion. Landstar System had a return on equity of 51.73% and a net margin of 5.89%. Landstar System's quarterly revenue was up 25.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.40 earnings per share. Sell-side analysts anticipate that Landstar System, Inc. will post 11.7 EPS for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 26th. Shareholders of record on Monday, August 8th were issued a dividend of $0.30 per share. This is an increase from Landstar System's previous quarterly dividend of $0.25. The ex-dividend date was Friday, August 5th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.83%. Landstar System's dividend payout ratio is 10.03%.

Analyst Ratings Changes

Several brokerages have issued reports on LSTR. Wells Fargo & Company dropped their target price on shares of Landstar System from $165.00 to $147.00 and set an "equal weight" rating for the company in a research report on Friday, July 15th. Benchmark began coverage on Landstar System in a research note on Tuesday. They issued a "hold" rating on the stock. StockNews.com lowered Landstar System from a "buy" rating to a "hold" rating in a research note on Saturday, September 3rd. Susquehanna Bancshares decreased their price target on shares of Landstar System from $155.00 to $153.00 and set a "neutral" rating on the stock in a research note on Friday, July 22nd. Finally, Evercore ISI cut 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 research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating and ten have assigned a hold rating to the stock. According to data from MarketBeat, Landstar System has a consensus rating of "Hold" and an average price target of $162.08.

Insider Activity

In related news, COO Joseph J. Beacom sold 2,863 shares of the 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 completion of the transaction, the chief operating officer now directly owns 17,805 shares in the company, valued at approximately $2,787,550.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Landstar System Company Profile

(Get Rating)

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.

Read More

  • Get a free copy of the StockNews.com research report on Landstar System (LSTR)
  • 3 High Margin Chipmakers Bound to Recover
  • 3 Solar Stocks That Will Benefit From the Biden Tariff Holiday
  • REV Group Has A Deep Moat In The World Of EVs
  • Is G-III Apparel Group, Ltd. A Value Trap?
  • Bank Of America Sees Upside In These 2 European Alcohol Stocks

Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System, Inc. (NASDAQ:LSTR – Get Rating).

Receive News & Ratings for Landstar System Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment