Landstar System, Inc. (NASDAQ:LSTR) announced a special dividend on Wednesday, December 13th, RTT News reports. Shareholders of record on Friday, January 12th will be paid a dividend of 1.50 per share by the transportation company on Friday, January 26th. This represents a yield of 0.39%. The ex-dividend date of this dividend is Thursday, January 11th. This is a boost from Landstar System’s previous special dividend of $1.00.

Shares of Landstar System (NASDAQ LSTR) opened at $106.05 on Wednesday. Landstar System has a 52-week low of $80.00 and a 52-week high of $107.60. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $4,450.00, a price-to-earnings ratio of 29.30, a price-to-earnings-growth ratio of 1.85 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. Landstar System had a return on equity of 25.53% and a net margin of 4.36%. The firm had revenue of $943.40 million for the quarter, compared to analyst estimates of $895.31 million. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 19.7% on a year-over-year basis. equities analysts anticipate that Landstar System will post 3.69 EPS for the current fiscal year.

Several brokerages have weighed in on LSTR. Zacks Investment Research raised Landstar System from a “hold” rating to a “buy” rating and set a $119.00 target price on the stock in a research report on Wednesday. Robert W. Baird reaffirmed a “hold” rating and issued a $105.00 target price on shares of Landstar System in a research report on Tuesday. Susquehanna Bancshares raised Landstar System from a “neutral” rating to a “positive” rating and raised their price target for the company from $109.00 to $124.00 in a report on Monday. BidaskClub lowered Landstar System from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 3rd. Finally, Credit Suisse Group reissued a “neutral” rating and set a $97.00 price target (up from $84.00) on shares of Landstar System in a report on Tuesday, October 31st. Two research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $101.17.

Landstar System announced that its Board of Directors has authorized a stock buyback program on Wednesday, December 13th that authorizes the company to repurchase 1,960,000 outstanding shares. This repurchase authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

In related news, Director Dr. Homaira Akbari sold 1,000 shares of the firm’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the completion of the transaction, the director now owns 6,656 shares of the company’s stock, valued at $654,284.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Michael K. Kneller sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $99.00, for a total value of $990,000.00. Following the transaction, the vice president now directly owns 22,153 shares of the company’s stock, valued at approximately $2,193,147. The disclosure for this sale can be found here. Insiders have sold 40,805 shares of company stock worth $4,028,128 over the last three months. Corporate insiders own 1.00% of the company’s stock.

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Landstar System Company Profile

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 customer’s transportation needs.

Dividend History for Landstar System (NASDAQ:LSTR)

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