Convergence Investment Partners LLC Boosts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Convergence Investment Partners LLC grew its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 9.9% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,549 shares of the transportation company’s stock after acquiring an additional 590 shares during the quarter. Convergence Investment Partners LLC’s holdings in Landstar System were worth $736,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of LSTR. Signaturefd LLC grew its holdings in shares of Landstar System by 43.8% in the first quarter. Signaturefd LLC now owns 404 shares of the transportation company’s stock worth $39,000 after purchasing an additional 123 shares during the last quarter. Ellevest Inc. grew its holdings in shares of Landstar System by 53.9% in the first quarter. Ellevest Inc. now owns 437 shares of the transportation company’s stock worth $42,000 after purchasing an additional 153 shares during the last quarter. Twin Tree Management LP bought a new position in shares of Landstar System in the first quarter worth approximately $51,000. FinTrust Capital Advisors LLC bought a new position in shares of Landstar System in the first quarter worth approximately $51,000. Finally, Synovus Financial Corp grew its holdings in shares of Landstar System by 19.8% in the first quarter. Synovus Financial Corp now owns 713 shares of the transportation company’s stock worth $66,000 after purchasing an additional 118 shares during the last quarter.

Shares of LSTR stock traded down $2.07 during mid-day trading on Friday, reaching $121.78. 362,129 shares of the company’s stock traded hands, compared to its average volume of 324,777. Landstar System, Inc. has a 12 month low of $85.30 and a 12 month high of $126.13. The company has a market cap of $4.67 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.28 and a beta of 1.00. The company has a quick ratio of 1.76, a current ratio of 1.77 and a debt-to-equity ratio of 0.09. The company’s 50-day moving average price is $113.91 and its 200-day moving average price is $108.06.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, July 22nd. The transportation company reported $0.68 EPS for the quarter, missing the Zacks’ consensus estimate of $0.71 by ($0.03). Landstar System had a net margin of 4.48% and a return on equity of 26.42%. The business had revenue of $823.51 million for the quarter, compared to the consensus estimate of $782.58 million. Equities analysts predict that Landstar System, Inc. will post 4.44 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Monday, August 10th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Friday, August 7th. This is a positive change from Landstar System’s previous quarterly dividend of $0.19. Landstar System’s payout ratio is currently 12.94%.

Several research analysts have recently issued reports on LSTR shares. Stifel Nicolaus cut their target price on shares of Landstar System from $114.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 1st. SunTrust Banks raised their target price on shares of Landstar System from $100.00 to $115.00 and gave the stock a “hold” rating in a report on Friday, July 17th. Oppenheimer reiterated a “hold” rating on shares of Landstar System in a report on Wednesday, July 22nd. BidaskClub upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Friday. Finally, Credit Suisse Group lifted their price target on shares of Landstar System from $103.00 to $112.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $113.82.

In other news, Director Diana M. Murphy sold 8,000 shares of Landstar System stock in a transaction dated Monday, July 27th. The stock was sold at an average price of $122.45, for a total value of $979,600.00. Following the completion of the transaction, the director now owns 24,947 shares of the company’s stock, valued at approximately $3,054,760.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Joseph J. Beacom sold 5,000 shares of Landstar System stock in a transaction dated Wednesday, May 27th. The stock was sold at an average price of $115.24, for a total value of $576,200.00. Following the completion of the transaction, the chief operating officer now directly owns 41,916 shares of the company’s stock, valued at approximately $4,830,399.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,678 shares of company stock valued at $2,307,542. 1.00% of the stock is owned by insiders.

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.

Further Reading: Cash Asset Ratio

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

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