In a recent development, Harel Insurance Investments & Financial Services Ltd. has significantly reduced its stake in Landstar System, Inc. (NASDAQ:LSTR) during the first quarter of this year. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, Harel Insurance Investments & Financial Services Ltd. now owns 11,587 shares of Landstar System after selling 4,762 shares, representing a decrease of 29.1%. The value of Harel Insurance Investments & Financial Services Ltd.’s holdings in Landstar System currently stands at $2,033,000 as per its latest SEC filing.
Moving on to other noteworthy news concerning Landstar System, CEO James B. Gattoni recently divested himself of 22,500 shares in the company. The transaction took place on May 30th and the shares were sold at an average price of $175.95 each, thereby bringing the total value of the sale to $3,958,875. Currently retaining ownership of 68,125 shares in Landstar System after the transaction, Gattoni’s holdings are estimated to be valued at approximately $11,986,593.75.
The details of this sale were formally disclosed through a legal filing with the Securities & Exchange Commission and can be accessed by following the provided link. It is worth noting that insiders now possess a 1% stake in Landstar System.
On July 20th, NASDAQ LSTR opened at $201.06 per share.Through examining various financial ratios for analytical purposes we find that the current ratio and quick ratio both stand at 1.83 for Landstar System indicating healthy liquidity within the company. In addition to this strong liquidity position,Landstar boasts a conservative debt-to-equity ratio of just 0.06 indicating prudent financial management practices.
Investors will also be intrigued by Landstar System’s stock performance over the last year. With a 12-month low of $137.51 and a high of $201.19, Landstar System has proven to be a promising investment opportunity with notable price growth potential.
At present, Landstar System holds a market capitalization of $7.22 billion. The company’s healthy financials are further supported by a favorable price-to-earnings (P/E) ratio of 19.00 and a price-to-earnings-growth (PEG) ratio of 1.98, suggesting that the stock is currently undervalued.
Furthermore, with a beta value of 0.90, Landstar System exhibits relatively lower volatility compared to the broader market index, indicating its ability to perform well in varying market conditions.
It is also worth mentioning that Landstar System maintains an impressive 50-day simple moving average (SMA) of $185.87 and a two-hundred-day SMA of $179.67 as per recent data.
In conclusion, while Harel Insurance Investments & Financial Services Ltd.’s decision to reduce its stake in Landstar System may have raised some eyebrows among investors, it is crucial to remember that such financial maneuvers are strategic in nature and should not elicit undue panic or concern within the investment community.
With CEO James B. Gattoni’s recent divestment action and the subsequent increase in insider ownership holdings in Landstar System, market observers may interpret this as insiders displaying confidence in the company’s prospects moving forward.
Landstar System’s strong liquidity position, conservative debt management practices, and thriving stock performance over the past year underscore its resilience within the transportation industry. As such, investors might consider this an opportune time to evaluate Landstar System as a potential addition to their investment portfolios.
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Hedge Funds Take Interest in Landstar System as Research Reports and Financial Performance Boost Potential Opportunities
Landstar System (NASDAQ: LSTR) has attracted the attention of several hedge funds, as reported in recent filings. The National Bank of Canada FI increased its stake in Landstar System by an astounding 59.6% during the first quarter, now owning 158 shares worth $28,000. FSC Wealth Advisors LLC and Machina Capital S.A.S. also purchased new positions in Landstar System during the same period, worth approximately $38,000 and $54,000 respectively. Benjamin F. Edwards & Company Inc. raised its stake by 39.1% in the fourth quarter to 388 shares valued at $63,000. Lastly, Fifth Third Bancorp boosted its position by 20.9%, now owning 405 shares worth $73,000.
Shares of Landstar System have been mentioned in various research reports recently. Raymond James increased their price objective from $200 to $215 and gave the company an “outperform” rating, while Wells Fargo & Company raised their price objective to $190 from $180 on July 13th. Morgan Stanley also upped their price target on Landstar System from $140 to $146 and labeled it as “equal weight.” Furthermore, StockNews.com initiated coverage with a “hold” rating for the company, and Susquehanna lowered their price target from $170 to $155.
In a noteworthy transaction on May 30th, CEO James B. Gattoni sold 22,500 shares of Landstar System’s stock at an average price of $175.95 per share for a total value of approximately $3,958,875. Following this sale, Gattoni’s direct ownership stands at 68,125 shares valued at around $11,986,593.
During its last quarterly earnings report on April 26th, Landstar System outperformed expectations with earnings per share (EPS) of $2.17, beating the consensus estimate of $2.07 by $0.10. The net margin for Landstar System was recorded at 5.57%, while the return on equity stood impressively at 43.26%. The company’s revenue for the quarter reached $1.44 billion, slightly surpassing analyst estimates of $1.42 billion.
Moreover, Landstar System recently announced a quarterly dividend, which was paid out to shareholders of record on May 4th, with each receiving an amount of $0.30 per share. With an annualized dividend of $1.20, the dividend yield stands at 0.60%. Landstar System currently boasts a dividend payout ratio (DPR) of 11.34%.
Looking ahead, equities analysts anticipate that Landstar System will post earnings per share (EPS) of 8.2 for the current year.
In conclusion, with hedge funds increasing their stake and research reports offering positive perspectives on Landstar System’s performance, combined with impressive financial results and CEO James B. Gattoni’s recent stock sale attracting attention, investors should keep a lookout for potential opportunities surrounding this transportation company in the coming months.
References:
– National Bank of Canada FI Statement
– FSC Wealth Advisors LLC Statement
– Machina Capital S.A.S Statement
– Benjamin F. Edwards & Company Inc. Statement
– Fifth Third Bancorp Statement
– Research Reports from Raymond James, Wells Fargo & Company, Morgan Stanley, StockNews.com, and Susquehanna.
– CEO James B. Gattoni’s Stock Sale
– Quarterly Earnings Report
Disclaimer: The above information is not financial advice; please conduct thorough research before making any investment decisions based on this article