Cardinal Capital Management boosted its position in shares of Landstar System Inc. (NASDAQ:LSTR) by 6.3% during the second quarter, Holdings Channel reports. The firm owned 10,506 shares of the company’s stock after buying an additional 625 shares during the period. Cardinal Capital Management’s holdings in Landstar System were worth $721,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LSTR. Glenmede Trust Co. NA boosted its position in Landstar System by 0.5% in the first quarter. Glenmede Trust Co. NA now owns 10,198 shares of the company’s stock valued at $658,000 after buying an additional 51 shares during the period. Aperio Group LLC boosted its position in Landstar System by 8.9% in the first quarter. Aperio Group LLC now owns 13,508 shares of the company’s stock valued at $873,000 after buying an additional 1,101 shares during the period. Virginia Retirement System bought a new position in Landstar System during the first quarter valued at $1,253,000. TIAA CREF Investment Management LLC boosted its position in Landstar System by 26.4% in the first quarter. TIAA CREF Investment Management LLC now owns 211,635 shares of the company’s stock valued at $13,674,000 after buying an additional 44,236 shares during the period. Finally, Prudential Financial Inc. boosted its position in Landstar System by 8.9% in the first quarter. Prudential Financial Inc. now owns 30,994 shares of the company’s stock valued at $2,003,000 after buying an additional 2,530 shares during the period.
Shares of Landstar System Inc. (NASDAQ:LSTR) traded down 1.48% during trading on Tuesday, hitting $67.33. 357,638 shares of the stock traded hands. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 20.81 and a beta of 0.80. The firm has a 50-day moving average of $68.01 and a 200-day moving average of $67.39. Landstar System Inc. has a 1-year low of $53.03 and a 1-year high of $72.97.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The firm had revenue of $775 million for the quarter, compared to analyst estimates of $790.95 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The business’s revenue was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.92 EPS. On average, equities analysts forecast that Landstar System Inc. will post $3.08 earnings per share for the current year.
Several research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Tuesday. Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. cut shares of Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the stock. Landstar System has a consensus rating of “Hold” and an average target price of $62.66.
In related news, CMO Patrick J. O’malley sold 1,787 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total transaction of $123,606.79. Following the sale, the chief marketing officer now owns 40,237 shares in the company, valued at approximately $2,783,193.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.30% of the company’s stock.
Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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