Geode Capital Management LLC Has $117.35 Million Stock Holdings in Landstar System, Inc. $LSTR

Geode Capital Management LLC trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.8% in the second quarter, according to its most recent filing with the SEC. The firm owned 844,046 shares of the transportation company’s stock after selling 15,072 shares during the period. Geode Capital Management LLC’s holdings in Landstar System were worth $117,352,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. raised its position in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its stake in shares of Landstar System by 118.8% in the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 152 shares during the period. Hantz Financial Services Inc. raised its holdings in shares of Landstar System by 7,650.0% in the 2nd quarter. Hantz Financial Services Inc. now owns 310 shares of the transportation company’s stock worth $43,000 after buying an additional 306 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Landstar System by 352.2% during the 1st quarter. Brooklyn Investment Group now owns 312 shares of the transportation company’s stock worth $47,000 after buying an additional 243 shares during the period. Finally, Sprucegrove Investment Management Ltd. bought a new position in shares of Landstar System during the 2nd quarter worth approximately $97,000. Institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on LSTR shares. Wall Street Zen lowered Landstar System from a “hold” rating to a “sell” rating in a research note on Sunday, November 9th. Susquehanna lowered their target price on shares of Landstar System from $121.00 to $110.00 and set a “neutral” rating on the stock in a report on Wednesday, October 29th. Barclays dropped their target price on shares of Landstar System from $135.00 to $130.00 and set an “equal weight” rating for the company in a research report on Thursday, October 30th. TD Cowen reduced their price target on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating on the stock in a research report on Wednesday, October 29th. Finally, Stifel Nicolaus dropped their price objective on shares of Landstar System from $130.00 to $127.00 and set a “hold” rating for the company in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus target price of $134.60.

Landstar System Stock Down 1.2%

Shares of NASDAQ:LSTR opened at $123.37 on Thursday. The company has a quick ratio of 2.00, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market cap of $4.24 billion, a P/E ratio of 31.47 and a beta of 0.83. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $190.69. The company’s 50-day moving average price is $126.89 and its two-hundred day moving average price is $133.33.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the prior year, the firm posted $1.41 earnings per share. The company’s revenue was down .7% on a year-over-year basis. As a group, research analysts forecast that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 9th. Shareholders of record on Tuesday, November 18th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Tuesday, November 18th. Landstar System’s dividend payout ratio (DPR) is presently 40.82%.

Landstar System Company 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 services.