Smithfield Trust Co. reduced its position in Landstar System Inc. (NASDAQ:LSTR) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,243 shares of the company’s stock after selling 96 shares during the period. Smithfield Trust Co.’s holdings in Landstar System were worth $497,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of LSTR. LS Investment Advisors LLC increased 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 worth $178,000 after buying an additional 1,064 shares during the last quarter. Huntington National Bank increased its stake in shares of Landstar System by 20.9% in the second quarter. Huntington National Bank now owns 3,184 shares of the company’s stock worth $219,000 after buying an additional 551 shares during the last quarter. Parametrica Management Ltd purchased a new stake in shares of Landstar System during the second quarter worth about $255,000. Hollencrest Securities LLC increased its stake in shares of Landstar System by 0.7% in the second quarter. Hollencrest Securities LLC now owns 4,062 shares of the company’s stock worth $279,000 after buying an additional 28 shares during the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Landstar System during the first quarter worth about $292,000.
Shares of Landstar System Inc. (NASDAQ:LSTR) traded down 0.12% on Friday, hitting $65.90. The stock had a trading volume of 173,398 shares. Landstar System Inc. has a 1-year low of $53.03 and a 1-year high of $72.97. The stock has a market cap of $2.77 billion, a P/E ratio of 20.36 and a beta of 0.80. The firm’s 50-day moving average is $67.59 and its 200 day moving average is $67.39.
Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, July 20th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.81 by $0.05. Landstar System had a net margin of 4.37% and a return on equity of 28.83%. The firm earned $775 million during the quarter, compared to analysts’ expectations of $790.95 million. During the same quarter last year, the firm earned $0.92 EPS. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. Equities analysts forecast that Landstar System Inc. will post $3.08 EPS for the current year.
A number of research firms have recently weighed in on LSTR. Zacks Investment Research raised shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Oppenheimer Holdings Inc. downgraded shares of Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. downgraded shares of Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has issued a buy rating to the stock. Landstar System presently has an average rating of “Hold” and a consensus price target 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 dated Tuesday, August 2nd. The stock was 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 of the company’s stock, valued at $2,783,193.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is owned by company 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.
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