Fenimore Asset Management Inc. raised its stake in Landstar System Inc. (NASDAQ:LSTR) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 133,671 shares of the company’s stock after buying an additional 175 shares during the period. Fenimore Asset Management Inc.’s holdings in Landstar System were worth $9,100,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of LSTR. Victory Capital Management Inc. increased its position 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. increased its position 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. increased its position 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 acquired a new position in shares of Landstar System during the second quarter valued at about $135,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Landstar System during the second quarter valued at about $137,000.
Landstar System Inc. (NASDAQ:LSTR) opened at 66.71 on Thursday. The company has a market cap of $2.81 billion, a PE ratio of 20.61 and a beta of 0.80. The firm has a 50 day moving average price of $67.70 and a 200 day moving average price of $67.40. Landstar System Inc. has a 12-month low of $53.03 and a 12-month high of $72.97.
Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $775 million for the quarter, compared to the consensus estimate of $790.95 million. During the same period last year, the company earned $0.92 earnings per share. Landstar System’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, analysts anticipate that Landstar System Inc. will post $3.08 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on LSTR. Zacks Investment Research upgraded Landstar System from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Citigroup Inc. downgraded Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Finally, Oppenheimer Holdings Inc. downgraded Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and one has issued a buy rating to the company’s stock. Landstar System presently has an average rating of “Hold” and a consensus target price of $62.66.
In other news, CMO Patrick J. O’malley sold 1,787 shares of the 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 directly owns 40,237 shares of the company’s stock, valued at $2,783,193.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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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