Insider Selling: Landstar System (NASDAQ:LSTR) Director Sells $2,488,514.88 in Stock

Landstar System, Inc. (NASDAQ:LSTR) Director Diana Murphy sold 11,246 shares of the company’s 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 transaction, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Landstar System Price Performance

Shares of Landstar System stock opened at $218.92 on Thursday. The stock has a 50 day moving average of $185.09 and a 200 day moving average of $161.35. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46. The firm has a market cap of $7.43 billion, a PE ratio of 60.48 and a beta of 0.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company earned $0.95 earnings per share. The firm’s revenue was up 1.6% on a year-over-year basis. On average, research analysts expect that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

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

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Landstar System’s dividend payout ratio is presently 44.20%.

Institutional Investors Weigh In On Landstar System

Hedge funds and other institutional investors have recently modified their holdings of the business. Alps Advisors Inc. raised its holdings in shares of Landstar System by 69.8% in the third quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company’s stock worth $11,626,000 after buying an additional 38,992 shares during the period. CWM LLC raised its holdings in shares of Landstar System by 196.5% in the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock worth $884,000 after buying an additional 4,075 shares during the period. Jensen Investment Management Inc. purchased a new stake in shares of Landstar System in the third quarter worth approximately $766,000. Fenimore Asset Management Inc raised its holdings in shares of Landstar System by 42.5% in the fourth quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock worth $69,862,000 after buying an additional 145,035 shares during the period. Finally, Gotham Asset Management LLC raised its holdings in shares of Landstar System by 65.0% in the third quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company’s stock worth $31,896,000 after buying an additional 102,524 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LSTR. Robert W. Baird set a $193.00 price target on Landstar System in a research note on Wednesday, April 29th. Stifel Nicolaus upped their price objective on Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Truist Financial upped their price objective on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. Finally, JPMorgan Chase & Co. upped their price objective on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $183.00.

Landstar System Company 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.