Wedge Capital Management L L P NC decreased its position in shares of Landstar System Inc. (NASDAQ:LSTR) by 8.3% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,441 shares of the company’s stock after selling 1,843 shares during the period. Wedge Capital Management L L P NC’s holdings in Landstar System were worth $1,403,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Chicago Equity Partners LLC boosted its stake in shares of Landstar System by 15.7% in the second quarter. Chicago Equity Partners LLC now owns 16,315 shares of the company’s stock worth $1,120,000 after buying an additional 2,210 shares during the last quarter. Cardinal Capital Management boosted its stake in shares of Landstar System by 6.3% in the second quarter. Cardinal Capital Management now owns 10,506 shares of the company’s stock worth $721,000 after buying an additional 625 shares during the last quarter. Huntington National Bank boosted 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. Capital Fund Management S.A. acquired a new stake in shares of Landstar System during the second quarter worth approximately $3,344,000. Finally, Moody Aldrich Partners LLC boosted its stake in shares of Landstar System by 167.5% in the second quarter. Moody Aldrich Partners LLC now owns 18,045 shares of the company’s stock worth $1,239,000 after buying an additional 11,300 shares during the last quarter.
Landstar System Inc. (NASDAQ:LSTR) traded up 0.02% during trading on Monday, hitting $65.70. 321,333 shares of the company traded hands. The stock has a market capitalization of $2.77 billion, a PE ratio of 20.30 and a beta of 0.80. Landstar System Inc. has a 52 week low of $53.03 and a 52 week high of $72.97. The company’s 50 day moving average is $67.49 and its 200-day moving average is $67.39.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.76 earnings per share for the quarter, missing the 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 firm had revenue of $775 million for the quarter, compared to analysts’ expectations of $790.95 million. During the same period in the prior year, the firm earned $0.92 EPS. Landstar System’s revenue for the quarter was down 10.7% compared to the same quarter last year. Analysts predict that Landstar System Inc. will post $3.08 earnings per share for the current year.
Several research firms have issued reports on LSTR. Zacks Investment Research upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Tuesday, October 4th. Oppenheimer Holdings Inc. cut shares of Landstar System to an “outperform” rating in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. cut shares of Landstar System to a “market perform” rating in a research note 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 issued a hold rating and one has issued a buy rating to the stock. The stock currently 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 Landstar System 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 transaction, 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 the SEC website. Company 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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