Gotham Asset Management LLC raised its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 904.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,301 shares of the transportation company’s stock after buying an additional 70,502 shares during the period. Gotham Asset Management LLC owned about 0.19% of Landstar System worth $8,151,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its stake in Landstar System by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 295,684 shares of the transportation company’s stock valued at $30,781,000 after buying an additional 17,340 shares in the last quarter. Old Mutual Global Investors UK Ltd. raised its stake in Landstar System by 64.5% in the fourth quarter. Old Mutual Global Investors UK Ltd. now owns 246,964 shares of the transportation company’s stock valued at $25,708,000 after buying an additional 96,840 shares in the last quarter. Fuller & Thaler Asset Management Inc. raised its stake in Landstar System by 55.0% in the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 137,225 shares of the transportation company’s stock valued at $14,285,000 after buying an additional 48,700 shares in the last quarter. Spectrum Asset Management Inc. NB CA acquired a new stake in Landstar System in the fourth quarter valued at $933,000. Finally, Swiss National Bank raised its stake in Landstar System by 1.9% in the fourth quarter. Swiss National Bank now owns 71,400 shares of the transportation company’s stock valued at $7,433,000 after buying an additional 1,300 shares in the last quarter. Institutional investors own 99.82% of the company’s stock.
LSTR has been the topic of a number of analyst reports. Zacks Investment Research cut Landstar System from a “buy” rating to a “hold” rating in a research note on Wednesday, January 3rd. BidaskClub upgraded Landstar System from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 5th. Cowen reiterated a “market perform” rating and set a $115.00 target price (up previously from $97.00) on shares of Landstar System in a research report on Thursday, February 1st. Cleveland Research upgraded Landstar System from a “neutral” rating to a “buy” rating in a research report on Friday, January 26th. Finally, Susquehanna Bancshares upgraded Landstar System from a “neutral” rating to a “positive” rating and lifted their target price for the stock from $109.00 to $124.00 in a research report on Monday, January 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $107.50.
Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, January 31st. The transportation company reported $1.08 EPS for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.06. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a return on equity of 25.30% and a net margin of 4.86%. The business’s revenue was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.94 earnings per share. research analysts forecast that Landstar System, Inc. will post 5.15 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Investors of record on Monday, February 19th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.55%. The ex-dividend date of this dividend was Thursday, February 15th. This is a boost from Landstar System’s previous quarterly dividend of $0.10. Landstar System’s payout ratio is 14.25%.
Landstar System declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 outstanding shares. This repurchase authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Landstar System and related companies with MarketBeat.com's FREE daily email newsletter.