Landstar System, Inc. (LSTR) VP Michael K. Kneller Sells 10,000 Shares of Stock
Landstar System, Inc. (NASDAQ:LSTR) VP Michael K. Kneller sold 10,000 shares of Landstar System stock in a transaction dated Tuesday, October 31st. The stock was 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 of the company’s stock, valued at $2,193,147. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Shares of Landstar System, Inc. (NASDAQ LSTR) traded up $0.85 during mid-day trading on Friday, reaching $99.60. The company had a trading volume of 132,101 shares, compared to its average volume of 212,353. The stock has a market cap of $4,192.60, a price-to-earnings ratio of 27.69 and a beta of 0.80.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The firm had revenue of $943.40 million for the quarter, compared to analysts’ expectations of $895.31 million. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. equities research analysts anticipate that Landstar System, Inc. will post 3.68 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Shareholders of record on Tuesday, November 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.40%. The ex-dividend date is Monday, November 13th. Landstar System’s payout ratio is 11.08%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in Landstar System by 4.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 551,235 shares of the transportation company’s stock worth $47,184,000 after purchasing an additional 22,334 shares during the period. Chicago Equity Partners LLC increased its position in Landstar System by 22.7% during the 2nd quarter. Chicago Equity Partners LLC now owns 48,790 shares of the transportation company’s stock worth $4,176,000 after purchasing an additional 9,020 shares during the period. Crawford Investment Counsel Inc. increased its position in Landstar System by 8.5% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 42,028 shares of the transportation company’s stock worth $3,598,000 after purchasing an additional 3,280 shares during the period. Great Lakes Advisors LLC increased its position in Landstar System by 22.8% during the 2nd quarter. Great Lakes Advisors LLC now owns 25,085 shares of the transportation company’s stock worth $2,147,000 after purchasing an additional 4,655 shares during the period. Finally, Teacher Retirement System of Texas increased its position in Landstar System by 0.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 26,383 shares of the transportation company’s stock worth $2,258,000 after purchasing an additional 67 shares during the period. Institutional investors own 97.36% of the company’s stock.
A number of analysts have issued reports on the company. Buckingham Research assumed coverage on Landstar System in a report on Friday, October 20th. They set a “neutral” rating and a $103.00 price target for the company. Cowen and Company reaffirmed a “hold” rating and set a $97.00 price target on shares of Landstar System in a report on Friday, October 27th. Zacks Investment Research downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Thursday, August 3rd. Morgan Stanley lifted their price target on Landstar System from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, August 7th. Finally, Stephens raised Landstar System from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $88.00 to $103.00 in a report on Wednesday, August 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price 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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