Atlanta Capital Management Co. L L C Sells 13,108 Shares of Landstar System, Inc. (LSTR)
Atlanta Capital Management Co. L L C trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,417,337 shares of the transportation company’s stock after selling 13,108 shares during the quarter. Landstar System comprises about 1.4% of Atlanta Capital Management Co. L L C’s investment portfolio, making the stock its 27th largest holding. Atlanta Capital Management Co. L L C owned approximately 5.76% of Landstar System worth $240,888,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Landstar System in the 3rd quarter valued at about $86,725,000. Janus Henderson Group PLC bought a new position in Landstar System in the 2nd quarter valued at about $57,249,000. FMR LLC increased its holdings in Landstar System by 64.7% in the 2nd quarter. FMR LLC now owns 1,209,985 shares of the transportation company’s stock valued at $103,575,000 after buying an additional 475,220 shares during the period. Koch Industries Inc. bought a new position in Landstar System in the 2nd quarter valued at about $339,000. Finally, TimesSquare Capital Management LLC bought a new position in Landstar System in the 3rd quarter valued at about $22,780,000. 97.96% of the stock is currently owned by institutional investors and hedge funds.
Shares of Landstar System, Inc. (NASDAQ:LSTR) opened at $104.00 on Friday. Landstar System, Inc. has a one year low of $80.00 and a one year high of $104.80. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The firm has a market cap of $4,284.71, a P/E ratio of 28.28, a PEG ratio of 2.06 and a beta of 0.81.
Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.05. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The company had revenue of $943.40 million for the quarter, compared to the consensus estimate of $895.31 million. During the same period last year, the company posted $0.86 EPS. The firm’s quarterly revenue was up 19.7% compared to the same quarter last year. sell-side analysts anticipate that Landstar System, Inc. will post 3.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 14th will be paid a $0.10 dividend. The ex-dividend date is Monday, November 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.38%. Landstar System’s payout ratio is currently 11.08%.
In other news, VP Michael K. Kneller sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the sale, the vice president now directly owns 22,153 shares in the company, valued at approximately $2,193,147. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO James B. Gattoni sold 15,000 shares of Landstar System stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $98.72, for a total transaction of $1,480,800.00. Following the sale, the chief executive officer now owns 69,339 shares in the company, valued at $6,845,146.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,805 shares of company stock worth $4,028,128. 1.00% of the stock is currently owned by corporate insiders.
LSTR has been the topic of several recent analyst reports. Cowen reissued a “hold” rating and issued a $86.00 target price on shares of Landstar System in a report on Monday, August 28th. Stephens raised shares of Landstar System from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $88.00 to $103.00 in a report on Wednesday, August 30th. Stifel Nicolaus reissued a “buy” rating and issued a $95.00 target price on shares of Landstar System in a report on Tuesday, September 12th. KeyCorp reissued a “buy” rating and issued a $110.00 target price on shares of Landstar System in a report on Tuesday, October 3rd. Finally, Morgan Stanley raised their target price on shares of Landstar System from $68.00 to $73.00 and gave the company an “underweight” rating in a report on Thursday, October 5th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Landstar System presently has an average rating of “Hold” and a consensus price target of $96.67.
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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