Macquarie Group Ltd. bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 3,300 shares of the transportation company’s stock, valued at approximately $356,000.
Other large investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. raised its position in Landstar System by 3.8% in the second quarter. Jacobs Levy Equity Management Inc. now owns 405,097 shares of the transportation company’s stock valued at $43,746,000 after purchasing an additional 14,681 shares during the period. Bank of New York Mellon Corp raised its position in Landstar System by 27.4% in the second quarter. Bank of New York Mellon Corp now owns 684,082 shares of the transportation company’s stock valued at $73,874,000 after purchasing an additional 147,056 shares during the period. Retirement Systems of Alabama grew its stake in shares of Landstar System by 3.1% in the second quarter. Retirement Systems of Alabama now owns 104,530 shares of the transportation company’s stock valued at $11,288,000 after buying an additional 3,150 shares in the last quarter. APG Asset Management N.V. grew its stake in shares of Landstar System by 81.8% in the second quarter. APG Asset Management N.V. now owns 228,900 shares of the transportation company’s stock valued at $21,706,000 after buying an additional 103,000 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new stake in shares of Landstar System in the second quarter valued at $917,000.
A number of equities research analysts have recently weighed in on LSTR shares. Buckingham Research dropped their price objective on Landstar System from $115.00 to $113.00 and set a “neutral” rating for the company in a research note on Thursday, September 12th. SunTrust Banks set a $110.00 price objective on Landstar System and gave the company a “hold” rating in a research note on Friday, July 26th. Cowen reaffirmed a “hold” rating and issued a $119.00 price objective on shares of Landstar System in a research note on Thursday, July 25th. Zacks Investment Research raised Landstar System from a “sell” rating to a “hold” rating and set a $117.00 price objective for the company in a research note on Wednesday, July 31st. Finally, Raymond James raised Landstar System from an “underperform” rating to a “market perform” rating and set a $107.82 price objective for the company in a research note on Tuesday, July 2nd. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $112.07.
Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, July 24th. The transportation company reported $1.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.54 by ($0.01). Landstar System had a return on equity of 36.17% and a net margin of 5.82%. The company had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $1.51 earnings per share. The company’s revenue for the quarter was down 11.6% compared to the same quarter last year. On average, research analysts anticipate that Landstar System, Inc. will post 6.08 earnings per share for the current year.
Landstar System 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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