Squarepoint Ops LLC Increases Stock Holdings in Landstar System, Inc. $LSTR

Squarepoint Ops LLC raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 138.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,965 shares of the transportation company’s stock after acquiring an additional 27,888 shares during the quarter. Squarepoint Ops LLC owned approximately 0.14% of Landstar System worth $9,920,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in LSTR. California State Teachers Retirement System grew its holdings in shares of Landstar System by 20,011.2% in the second quarter. California State Teachers Retirement System now owns 8,234,347 shares of the transportation company’s stock valued at $1,702,945,000 after purchasing an additional 8,193,403 shares in the last quarter. BlackRock Inc. purchased a new position in Landstar System in the 2nd quarter valued at approximately $698,683,000. Boston Partners grew its stake in shares of Landstar System by 24.1% in the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after acquiring an additional 341,808 shares in the last quarter. First Trust Advisors LP increased its position in shares of Landstar System by 19.1% during the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock worth $179,315,000 after acquiring an additional 179,294 shares during the period. Finally, AQR Capital Management LLC increased its position in shares of Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after acquiring an additional 641,319 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insiders Place Their Bets

In other Landstar System news, CFO James Todd sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.74% of the company’s stock.

Landstar System Stock Up 0.1%

Landstar System stock opened at $173.70 on Friday. The stock has a market cap of $5.90 billion, a PE ratio of 45.00 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. The stock’s fifty day moving average is $189.48 and its two-hundred day moving average is $183.77. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same period in the prior year, the company posted $1.20 earnings per share. The company’s revenue was up 18.2% compared to the same quarter last year. On average, sell-side analysts expect that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th were paid a $0.44 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date was Tuesday, August 18th. Landstar System’s payout ratio is currently 45.60%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on LSTR shares. Zacks Research cut Landstar System from a “strong-buy” rating to a “hold” rating in a research note on Friday, September 4th. Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Morgan Stanley reissued an “underweight” rating and set a $145.00 price objective on shares of Landstar System in a research report on Monday, July 6th. The Goldman Sachs Group upped their target price on shares of Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research note on Thursday, July 16th. Finally, Stifel Nicolaus raised their target price on shares of Landstar System from $186.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average target price of $196.00.

Landstar System Company Profile

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company’s operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.