Hsbc Holdings PLC Purchases 6,083 Shares of Landstar System, Inc. $LSTR

Hsbc Holdings PLC raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 227.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,752 shares of the transportation company’s stock after buying an additional 6,083 shares during the period. Hsbc Holdings PLC’s holdings in Landstar System were worth $1,394,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. M&T Bank Corp increased its position in shares of Landstar System by 151,424.4% during the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after acquiring an additional 6,290,171 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after purchasing an additional 641,319 shares during the period. Millennium Management LLC increased its position in Landstar System by 910.2% in the fourth quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after buying an additional 488,238 shares during the last quarter. Bank of Montreal Can lifted its position in shares of Landstar System by 5,643.4% during the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock valued at $55,577,000 after buying an additional 380,024 shares during the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Landstar System by 99.5% in the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after acquiring an additional 370,253 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Shares of Landstar System stock opened at $191.63 on Tuesday. The firm has a market cap of $6.50 billion, a PE ratio of 52.94 and a beta of 0.89. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $208.43 and its two-hundred day simple moving average is $177.57.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 earnings per share. As a group, equities analysts expect that Landstar System, Inc. will post 5.73 EPS for the current year.

Landstar System declared that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently issued reports on LSTR shares. The Goldman Sachs Group boosted their price target on shares of Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research report on Thursday, July 16th. Stifel Nicolaus increased their price target on shares of Landstar System from $175.00 to $186.00 and gave the stock a “hold” rating in a report on Monday, July 13th. Barclays increased their target price on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. Evercore set a $181.00 price objective on Landstar System in a research report on Wednesday, April 29th. Finally, Truist Financial lifted their target price on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $192.42.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company’s stock.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.