Fenimore Asset Management Inc. Acquires 56,845 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Fenimore Asset Management Inc. raised its stake in Landstar System, Inc. (NASDAQ:LSTR) by 16.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 399,887 shares of the transportation company’s stock after buying an additional 56,845 shares during the quarter. Landstar System makes up approximately 1.4% of Fenimore Asset Management Inc.’s investment portfolio, making the stock its 28th largest position. Fenimore Asset Management Inc. owned about 1.00% of Landstar System worth $43,184,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Liberty Capital Management Inc. lifted its stake in shares of Landstar System by 3.3% in the 1st quarter. Liberty Capital Management Inc. now owns 3,160 shares of the transportation company’s stock valued at $346,000 after purchasing an additional 100 shares during the last quarter. Zions Bancorporation N.A. lifted its stake in shares of Landstar System by 6.4% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,866 shares of the transportation company’s stock valued at $202,000 after purchasing an additional 113 shares during the last quarter. Eukles Asset Management lifted its stake in shares of Landstar System by 1.8% in the 1st quarter. Eukles Asset Management now owns 7,512 shares of the transportation company’s stock valued at $822,000 after purchasing an additional 136 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Landstar System by 130.3% in the 1st quarter. Advisory Services Network LLC now owns 281 shares of the transportation company’s stock valued at $31,000 after purchasing an additional 159 shares during the last quarter. Finally, Cetera Advisor Networks LLC lifted its stake in shares of Landstar System by 4.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 4,101 shares of the transportation company’s stock valued at $449,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 98.66% of the company’s stock.

Shares of LSTR opened at $104.56 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 16.92, a P/E/G ratio of 1.49 and a beta of 1.27. The company has a 50-day moving average price of $109.24 and a two-hundred day moving average price of $107.63. Landstar System, Inc. has a 12 month low of $90.23 and a 12 month high of $128.70.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Wednesday, July 24th. The transportation company reported $1.53 earnings per share for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.01). Landstar System had a net margin of 5.82% and a return on equity of 36.17%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $1.51 earnings per share. The firm’s revenue for the quarter was down 11.6% on a year-over-year basis. Equities research analysts expect that Landstar System, Inc. will post 6.16 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be issued a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Friday, August 9th. This is an increase from Landstar System’s previous quarterly dividend of $0.17. Landstar System’s dividend payout ratio (DPR) is 11.97%.

Several equities analysts have recently commented on the company. Stephens assumed coverage on Landstar System in a research note on Monday, July 1st. They issued a “buy” rating on the stock. SunTrust Banks set a $110.00 target price on Landstar System and gave the stock a “hold” rating in a research note on Friday, July 26th. Wolfe Research raised Landstar System from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 28th. Stifel Nicolaus increased their target price on Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Raymond James upgraded Landstar System from an “underperform” rating to a “market perform” rating and set a $107.82 price objective on the stock in a research note on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $110.90.

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 service providers.

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

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