Squarepoint Ops LLC Raises Holdings in Landstar System, Inc. $LSTR

Squarepoint Ops LLC lifted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 138.9% during the second quarter, Holdings Channel reports. The firm owned 47,965 shares of the transportation company’s stock after acquiring an additional 27,888 shares during the quarter. Squarepoint Ops LLC’s holdings in Landstar System were worth $9,920,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE lifted its stake in Landstar System by 13.4% in the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock valued at $40,095,000 after buying an additional 29,595 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in shares of Landstar System in the fourth quarter valued at approximately $862,000. Walleye Capital LLC purchased a new position in shares of Landstar System during the second quarter worth approximately $21,043,000. Norges Bank purchased a new position in shares of Landstar System during the fourth quarter worth approximately $35,280,000. Finally, Assenagon Asset Management S.A. acquired a new position in shares of Landstar System in the 2nd quarter valued at $6,064,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

Landstar System stock opened at $173.70 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. The business has a 50 day simple moving average of $189.48 and a 200-day simple moving average of $183.77. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46. The stock has a market capitalization of $5.90 billion, a PE ratio of 45.00 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business earned $1.20 earnings per share. Equities analysts predict that Landstar System, Inc. will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th were issued a $0.44 dividend. The ex-dividend date of this dividend was Tuesday, August 18th. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. Landstar System’s payout ratio is presently 45.60%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LSTR. Wall Street Zen downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, August 29th. UBS Group restated a “neutral” rating and issued a $195.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. Stifel Nicolaus upped their target price on shares of Landstar System from $186.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Finally, Janney Montgomery Scott set a $182.00 price target on Landstar System in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $196.00.

Insider Buying and Selling at Landstar System

In other news, CFO James Todd sold 1,200 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.74% of the stock is currently owned by insiders.

About Landstar System

Landstar System, Inc is a transportation services company that provides integrated logistics solutions primarily through an asset-light network of independent freight agents and third-party capacity providers. The company’s operations connect shippers with transportation services without relying primarily on a company-owned fleet of trucks.

Landstar arranges a broad range of freight transportation, including truckload, less-than-truckload, expedited, heavy-haul and specialized shipments.