IBM Retirement Fund decreased its position in Landstar System Inc. (NASDAQ:LSTR) by 3.7% during the second quarter, Holdings Channel reports. The firm owned 4,260 shares of the company’s stock after selling 163 shares during the period. IBM Retirement Fund’s holdings in Landstar System were worth $292,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. Zebra Capital Management LLC raised its stake in Landstar System by 30.5% in the first quarter. Zebra Capital Management LLC now owns 15,911 shares of the company’s stock worth $1,028,000 after buying an additional 3,718 shares during the period. M&T Bank Corp raised its stake in Landstar System by 7.8% in the first quarter. M&T Bank Corp now owns 18,635 shares of the company’s stock worth $1,204,000 after buying an additional 1,341 shares during the period. Menta Capital LLC purchased a new stake in Landstar System during the first quarter worth $653,000. JPMorgan Chase & Co. raised its stake in Landstar System by 30.2% in the first quarter. JPMorgan Chase & Co. now owns 966,763 shares of the company’s stock worth $62,463,000 after buying an additional 224,149 shares during the period. Finally, BlackRock Japan Co. Ltd purchased a new stake in Landstar System during the first quarter worth $406,000.
Shares of Landstar System Inc. (NASDAQ:LSTR) traded up 1.46% during midday trading on Friday, reaching $68.08. 461,817 shares of the company’s stock traded hands. The company has a 50-day moving average of $68.01 and a 200-day moving average of $67.32. Landstar System Inc. has a one year low of $53.03 and a one year high of $72.97. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 21.04 and a beta of 0.76.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.05. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. The firm had revenue of $775 million for the quarter, compared to analysts’ expectations of $790.95 million. During the same period in the prior year, the firm earned $0.92 EPS. Landstar System’s revenue for the quarter was down 10.7% compared to the same quarter last year. Equities research analysts anticipate that Landstar System Inc. will post $3.08 EPS for the current year.
A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Landstar System from a “sell” rating to a “hold” rating in a report on Monday, September 5th. Oppenheimer Holdings Inc. lowered shares of Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Finally, Citigroup Inc. lowered shares of Landstar System to a “market perform” rating in a 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 assigned a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $62.66.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of Landstar System 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 transaction, the chief marketing officer now owns 40,237 shares of the company’s stock, valued at $2,783,193.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.30% of the company’s stock.
About Landstar System
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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