Landstar System, Inc. $LSTR Shares Sold by Quantum Capital Management LLC NJ

Quantum Capital Management LLC NJ cut its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 25.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 194,673 shares of the transportation company’s stock after selling 66,205 shares during the period. Landstar System makes up approximately 3.2% of Quantum Capital Management LLC NJ’s holdings, making the stock its 15th largest holding. Quantum Capital Management LLC NJ’s holdings in Landstar System were worth $27,975,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in Landstar System during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC lifted its position in Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after acquiring an additional 144 shares in the last quarter. Quarry LP acquired a new position in Landstar System during the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. lifted its position in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Finally, Private Trust Co. NA lifted its position in Landstar System by 81.0% during the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock worth $40,000 after acquiring an additional 124 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the business’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 sale, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.74% of the company’s stock.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $224.27 on Friday. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $7.61 billion, a price-to-earnings ratio of 61.95 and a beta of 0.88. The business has a 50 day simple moving average of $187.65 and a 200-day simple moving average of $162.48.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.95 EPS. The business’s quarterly revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 shares. This repurchase authorization permits the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign 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. Stockholders of record on Tuesday, May 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Landstar System’s payout ratio is 44.20%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Evercore set a $181.00 price objective on Landstar System in a report on Wednesday, April 29th. Truist Financial lifted their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Morgan Stanley lifted their price objective on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their price objective on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $183.00.

About Landstar System

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.