Principal Financial Group Inc. increased its stake in Landstar System Inc. (NASDAQ:LSTR) by 13.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 163,782 shares of the company’s stock after buying an additional 18,832 shares during the period. Principal Financial Group Inc. owned 0.39% of Landstar System worth $11,246,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Victory Capital Management Inc. boosted its stake in shares of Landstar System by 77.6% in the second quarter. Victory Capital Management Inc. now owns 1,705 shares of the company’s stock valued at $117,000 after buying an additional 745 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Landstar System by 1.7% in the second quarter. PNC Financial Services Group Inc. now owns 1,806 shares of the company’s stock valued at $124,000 after buying an additional 31 shares in the last quarter. Fuller & Thaler Asset Management Inc. boosted its stake in shares of Landstar System by 755.6% in the second quarter. Fuller & Thaler Asset Management Inc. now owns 1,925 shares of the company’s stock valued at $132,000 after buying an additional 1,700 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Landstar System during the second quarter valued at about $135,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Landstar System by 69.8% in the second quarter. LS Investment Advisors LLC now owns 2,589 shares of the company’s stock valued at $178,000 after buying an additional 1,064 shares in the last quarter.
Shares of Landstar System Inc. (NASDAQ:LSTR) opened at 65.55 on Thursday. The company has a market capitalization of $2.76 billion, a P/E ratio of 20.26 and a beta of 0.80. Landstar System Inc. has a one year low of $53.03 and a one year high of $72.97. The firm has a 50-day moving average of $67.70 and a 200-day moving average of $67.40.
Landstar System (NASDAQ:LSTR) last released its 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. The company had revenue of $775 million for the quarter, compared to analysts’ expectations of $790.95 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. The firm’s revenue for the quarter was down 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.92 EPS. Analysts forecast that Landstar System Inc. will post $3.08 earnings per share for the current year.
Several equities research analysts recently issued reports on the stock. Citigroup Inc. cut 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. Zacks Investment Research downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Friday, June 24th. Finally, Oppenheimer Holdings Inc. downgraded shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has given a buy rating to the stock. Landstar System presently has an average rating of “Hold” and a consensus target price of $62.66.
In other Landstar System news, CMO Patrick J. O’malley sold 1,787 shares of the business’s 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 of the company’s stock, valued at approximately $2,783,193.29. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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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