Gotham Asset Management LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 69,869 shares of the transportation company’s stock, valued at approximately $5,981,000. Gotham Asset Management LLC owned 0.17% of Landstar System at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Inc. increased its position in shares of Landstar System by 64.8% during the second quarter. Advisor Group Inc. now owns 1,523 shares of the transportation company’s stock valued at $130,000 after purchasing an additional 599 shares during the period. IFP Advisors Inc increased its position in shares of Landstar System by 2.9% during the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 47 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Landstar System by 14.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,824 shares of the transportation company’s stock valued at $156,000 after purchasing an additional 224 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Landstar System by 22.9% during the second quarter. PNC Financial Services Group Inc. now owns 2,000 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 373 shares during the period. Finally, ETRADE Capital Management LLC bought a new stake in shares of Landstar System during the second quarter valued at approximately $209,000. Institutional investors and hedge funds own 96.99% of the company’s stock.
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A number of analysts have recently issued reports on LSTR shares. Zacks Investment Research upgraded Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a research report on Thursday, July 6th. Cowen and Company restated a “hold” rating and set a $86.00 price objective on shares of Landstar System in a research report on Monday, August 28th. Deutsche Bank AG cut Landstar System from a “buy” rating to a “hold” rating and lowered their price objective for the company from $97.00 to $87.00 in a research report on Monday, July 31st. Stephens upgraded Landstar System from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $88.00 to $103.00 in a research report on Wednesday, August 30th. Finally, Stifel Nicolaus restated a “buy” rating and set a $95.00 price objective on shares of Landstar System in a research report on Tuesday, September 12th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $93.10.
Shares of Landstar System, Inc. (NASDAQ LSTR) opened at 98.80 on Wednesday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of 28.54 and a beta of 0.76. The company has a 50-day moving average price of $94.46 and a 200 day moving average price of $87.35. Landstar System, Inc. has a 52 week low of $65.05 and a 52 week high of $101.75.
Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.89 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.01. The firm had revenue of $870.34 million for the quarter, compared to the consensus estimate of $859.30 million. Landstar System had a return on equity of 26.11% and a net margin of 4.37%. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. Analysts expect that Landstar System, Inc. will post $3.60 EPS for the current fiscal year.
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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