Landstar System, Inc. (LSTR) to Issue Quarterly Dividend of $0.33 on May 24th

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 0.33 per share by the transportation company on Friday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, May 7th.

Landstar System has raised its dividend payment by an average of 16.8% annually over the last three years and has raised its dividend every year for the last 10 years. Landstar System has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $8.28 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.9%.

Landstar System Stock Down 0.1 %

LSTR stock traded down $0.14 during mid-day trading on Friday, reaching $177.29. 15,074 shares of the company traded hands, compared to its average volume of 272,612. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of 27.30, a P/E/G ratio of 4.51 and a beta of 0.83. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. Landstar System has a fifty-two week low of $161.13 and a fifty-two week high of $208.62. The firm’s 50 day moving average price is $184.66 and its 200 day moving average price is $183.48.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. As a group, equities research analysts predict that Landstar System will post 6.71 EPS for the current fiscal year.

Insider Buying and Selling

In other news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $190.30, for a total value of $2,325,275.70. Following the completion of the sale, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of research reports. Wells Fargo & Company raised their price objective on Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a report on Wednesday, January 10th. UBS Group raised their price objective on Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Susquehanna decreased their price objective on Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, March 25th. Finally, Stifel Nicolaus decreased their price target on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Eight research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $184.55.

About Landstar System

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 services.