Confluence Investment Management LLC lowered its position in Landstar System Inc. (NASDAQ:LSTR) by 60.3% during the second quarter, Holdings Channel reports. The fund owned 25,743 shares of the company’s stock after selling 39,134 shares during the period. Confluence Investment Management LLC’s holdings in Landstar System were worth $1,768,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Atlanta Capital Management Co. L L C increased its stake in shares of Landstar System by 21.1% in the first quarter. Atlanta Capital Management Co. L L C now owns 2,623,600 shares of the company’s stock worth $169,511,000 after buying an additional 456,602 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Landstar System by 84.9% in the first quarter. UBS Asset Management Americas Inc. now owns 515,305 shares of the company’s stock worth $33,294,000 after buying an additional 236,652 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of 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 last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Landstar System by 7.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,364,294 shares of the company’s stock worth $88,147,000 after buying an additional 96,082 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Landstar System by 2.6% in the first quarter. Wellington Management Group LLP now owns 3,602,864 shares of the company’s stock worth $232,781,000 after buying an additional 91,503 shares during the last quarter.
Landstar System Inc. (NASDAQ:LSTR) traded up 1.47% during trading on Wednesday, hitting $66.89. 221,596 shares of the company’s stock traded hands. The company’s 50 day moving average is $68.08 and its 200-day moving average is $67.29. Landstar System Inc. has a 12 month low of $53.03 and a 12 month high of $72.97. The stock has a market cap of $2.82 billion, a P/E ratio of 20.67 and a beta of 0.76.
Landstar System (NASDAQ:LSTR) last released its 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 earned $775 million during the quarter, compared to the consensus estimate of $790.95 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. Landstar System’s revenue was down 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. On average, analysts predict that Landstar System Inc. will post $3.08 earnings per share for the current year.
LSTR has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Landstar System from a “sell” rating to a “hold” rating in a report on Monday, September 5th. Oppenheimer Holdings Inc. downgraded Landstar System to an “outperform” rating in a report on Tuesday, August 2nd. Finally, Citigroup Inc. downgraded Landstar System to a “market perform” rating in a report on Tuesday, August 2nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $62.66.
In other news, CMO Patrick J. O’malley sold 1,787 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $69.17, for a total value of $123,606.79. Following the completion of 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 available through this hyperlink. 1.30% of the stock is currently owned by insiders.
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.
Want to see what other hedge funds are holding LSTR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Landstar System Inc. (NASDAQ:LSTR).
Receive News & Ratings for Landstar System Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System Inc. and related companies with MarketBeat.com's FREE daily email newsletter.