Manatuck Hill Partners LLC Invests $862,000 in Landstar System, Inc. $LSTR

Manatuck Hill Partners LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,000 shares of the transportation company’s stock, valued at approximately $862,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Inspire Investing LLC boosted its position in shares of Landstar System by 480.9% during the fourth quarter. Inspire Investing LLC now owns 21,550 shares of the transportation company’s stock worth $3,097,000 after purchasing an additional 17,840 shares in the last quarter. Gotham Asset Management LLC boosted its position in shares of Landstar System by 30.8% during the fourth quarter. Gotham Asset Management LLC now owns 340,451 shares of the transportation company’s stock worth $48,923,000 after purchasing an additional 80,199 shares in the last quarter. Capitolis Liquid Global Markets LLC bought a new position in shares of Landstar System during the fourth quarter worth $6,754,000. Align Financial LLC bought a new position in shares of Landstar System during the fourth quarter worth $1,012,000. Finally, Freestone Grove Partners LP bought a new position in shares of Landstar System during the fourth quarter worth $1,356,000. 97.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Diana M. 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 transaction of $2,488,514.88. Following the sale, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company’s stock.

Landstar System Stock Performance

Shares of NASDAQ:LSTR opened at $208.13 on Thursday. The company’s 50 day moving average price is $190.68 and its two-hundred day moving average price is $164.50. 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 $7.06 billion, a PE ratio of 57.49 and a beta of 0.88. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business posted $0.95 EPS. The business’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts predict 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 program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Landstar System Dividend Announcement

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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Landstar System’s dividend payout ratio is 44.20%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LSTR shares. Robert W. Baird lifted their price target on shares of Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday. TD Cowen boosted their price objective on shares of Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Susquehanna boosted their price objective on shares of Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average target price of $185.91.

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.