Citigroup Inc. Boosts Stake in Landstar System, Inc. (NASDAQ:LSTR)

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Citigroup Inc. lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 55.3% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 23,748 shares of the transportation company’s stock after purchasing an additional 8,454 shares during the quarter. Citigroup Inc.’s holdings in Landstar System were worth $2,598,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Liberty Capital Management Inc. lifted its position in Landstar System by 3.3% during the first quarter. Liberty Capital Management Inc. now owns 3,160 shares of the transportation company’s stock valued at $346,000 after purchasing an additional 100 shares during the period. Eukles Asset Management lifted its position in Landstar System by 1.8% during the first quarter. Eukles Asset Management now owns 7,512 shares of the transportation company’s stock valued at $822,000 after purchasing an additional 136 shares during the period. Cetera Advisor Networks LLC lifted its position in Landstar System by 4.1% during the first quarter. Cetera Advisor Networks LLC now owns 4,101 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 160 shares during the period. Burney Co. lifted its position in Landstar System by 0.4% during the fourth quarter. Burney Co. now owns 52,403 shares of the transportation company’s stock valued at $5,013,000 after purchasing an additional 206 shares during the period. Finally, Capco Asset Management LLC lifted its position in Landstar System by 0.5% during the first quarter. Capco Asset Management LLC now owns 44,515 shares of the transportation company’s stock valued at $4,869,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 98.66% of the company’s stock.

A number of research analysts recently issued reports on the stock. Buckingham Research decreased their target price on shares of Landstar System from $121.00 to $112.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Cowen restated a “market perform” rating and set a $113.00 target price (down from $115.00) on shares of Landstar System in a research report on Thursday, June 6th. Credit Suisse Group decreased their target price on shares of Landstar System from $112.00 to $104.00 and set a “neutral” rating for the company in a research report on Thursday, June 6th. BidaskClub downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Finally, Stifel Nicolaus boosted their target price on shares of Landstar System from $119.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company. Landstar System currently has a consensus rating of “Hold” and a consensus price target of $111.90.

LSTR opened at $102.62 on Thursday. Landstar System, Inc. has a fifty-two week low of $90.23 and a fifty-two week high of $128.70. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a market capitalization of $4.08 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.33 and a beta of 1.22.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.52 by $0.06. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The company had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the company earned $1.37 earnings per share. The firm’s revenue for the quarter was down 1.4% on a year-over-year basis. As a group, equities analysts anticipate that Landstar System, Inc. will post 6.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Thursday, May 9th were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, May 8th. This represents a $0.66 dividend on an annualized basis and a yield of 0.64%. Landstar System’s payout ratio is 10.68%.

In other news, CMO Patrick J. O’malley sold 23,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the completion of the sale, the chief marketing officer now owns 20,929 shares of the company’s stock, valued at $2,319,351.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of the business’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $114.12, for a total transaction of $570,600.00. Following the sale, the chief operating officer now directly owns 45,924 shares of the company’s stock, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by insiders.

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Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments, Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload service providers.

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

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