Parthenon buys $6,019,062 stake in Landstar System (LSTR)

Landstar System (LSTR) : Parthenon scooped up 10 additional shares in Landstar System during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 85,280 shares of Landstar System which is valued at $6,019,062.Landstar System makes up approximately 1.49% of Parthenon’s portfolio.

Other Hedge Funds, Including , Retirement Systems Of Alabama reduced its stake in LSTR by selling 99 shares or 0.18% in the most recent quarter. The Hedge Fund company now holds 54,599 shares of LSTR which is valued at $3,853,597. Landstar System makes up approx 0.02% of Retirement Systems Of Alabama’s portfolio.Eagle Asset Management Inc reduced its stake in LSTR by selling 67,143 shares or 8.45% in the most recent quarter. The Hedge Fund company now holds 727,896 shares of LSTR which is valued at $50,865,372. Landstar System makes up approx 0.34% of Eagle Asset Management Inc’s portfolio.

Landstar System closed down -0.02 points or -0.03% at $70.49 with 5,81,057 shares getting traded on Friday. Post opening the session at $70.43, the shares hit an intraday low of $69.66 and an intraday high of $70.905 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Landstar System reported $0.76 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $0.81. The company had revenue of $775.20 million for the quarter, compared to analysts expectations of $786.99 million. The company’s revenue was down -10.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.92 EPS.

Investors should note that on Jul 20, 2016, Landstar System announced a cash dividend of $0.0900. The company’s management has announced Aug 4, 2016 as the ex-dividend date and fixed the record date on Aug 8, 2016. The payable date has been fixed on Aug 26, 2016.

Landstar System Inc. (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes with the ability to arrange for individual shipments of freight to enterprise solutions to manage all of a customer’s transportation needs. The Company operates in two segments: the Transportation Logistics segment which provides a range of integrated transportation management solutions and the Insurance segment which provides risk and claims management services to certain of Landstar’s operating subsidiaries. Landstar provides services throughout the United States Canada Mexico and other countries around the world. The Company’s services are delivered through a network of independent commission sales agents and third-party capacity providers linked together by a series of technological applications which are provided and coordinated by the Company.

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