Symphony Asset Management LLC Increases Position in Landstar System, Inc. (LSTR)

Symphony Asset Management LLC boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,700 shares of the transportation company’s stock after acquiring an additional 931 shares during the period. Symphony Asset Management LLC owned 0.05% of Landstar System worth $1,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Landstar System by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after acquiring an additional 17 shares in the last quarter. Capstone Asset Management Co. grew its stake in Landstar System by 0.4% during the 2nd quarter. Capstone Asset Management Co. now owns 4,531 shares of the transportation company’s stock valued at $388,000 after acquiring an additional 20 shares in the last quarter. BB&T Corp grew its stake in Landstar System by 1.3% during the 2nd quarter. BB&T Corp now owns 3,033 shares of the transportation company’s stock valued at $260,000 after acquiring an additional 39 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Landstar System by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock valued at $751,000 after acquiring an additional 40 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Landstar System by 2.9% during the 2nd quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 47 shares in the last quarter. 97.00% of the stock is owned by institutional investors.

Landstar System, Inc. (NASDAQ:LSTR) traded down 0.05% during mid-day trading on Tuesday, hitting $94.55. 53,840 shares of the stock traded hands. The firm’s 50-day moving average is $85.87 and its 200-day moving average is $85.46. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 27.31 and a beta of 0.74. Landstar System, Inc. has a 12-month low of $65.05 and a 12-month high of $95.45.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $870.34 million during the quarter, compared to analysts’ expectations of $859.30 million. Landstar System had a net margin of 4.37% and a return on equity of 26.11%. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.76 earnings per share. Equities research analysts expect that Landstar System, Inc. will post $3.56 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 14th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend was Thursday, August 10th. This is a positive change from Landstar System’s previous quarterly dividend of $0.09. Landstar System’s payout ratio is currently 11.56%.

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LSTR has been the subject of several research reports. BidaskClub raised shares of Landstar System from a “sell” rating to a “hold” rating in a research note on Tuesday, June 13th. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective for the company in a research note on Thursday, July 6th. Cowen and Company reaffirmed a “hold” rating and set a $86.00 price objective on shares of Landstar System in a research note on Monday, August 28th. Deutsche Bank AG cut shares of Landstar System from a “buy” rating to a “hold” rating and dropped their price objective for the company from $97.00 to $87.00 in a research note on Monday, July 31st. Finally, Stifel Nicolaus raised shares of Landstar System from a “hold” rating to a “buy” rating and upped their price objective for the company from $87.00 to $95.00 in a research note on Monday, July 31st. Two analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company’s stock. Landstar System presently has an average rating of “Hold” and an average target price of $87.63.

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.

Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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