4,064 Shares in Landstar System, Inc. $LSTR Bought by Impact Partnership Wealth LLC

Impact Partnership Wealth LLC purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,064 shares of the transportation company’s stock, valued at approximately $652,000.

Several other large investors have also made changes to their positions in the business. Los Angeles Capital Management LLC purchased a new stake in shares of Landstar System during the fourth quarter worth about $25,000. Global Retirement Partners LLC lifted its holdings in shares of Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after buying an additional 144 shares in the last quarter. Quarry LP bought a new position in shares of Landstar System during the third quarter worth $25,000. Geneos Wealth Management Inc. boosted its position in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares during the last quarter. Finally, Private Trust Co. NA increased its holdings in Landstar System by 81.0% in the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 124 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several research reports. Susquehanna increased their price objective on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wells Fargo & Company increased their price target on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. JPMorgan Chase & Co. raised their price target on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. UBS Group lifted their price objective on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Finally, TD Cowen upped their price objective on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $189.09.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This trade represents a 37.36% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Landstar System Trading Up 0.3%

LSTR opened at $207.35 on Thursday. The stock has a 50-day moving average of $198.24 and a 200 day moving average of $169.26. 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, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46. The firm has a market cap of $7.04 billion, a P/E ratio of 57.28 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.95 earnings per share. As a group, research analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio is presently 44.20%.

Landstar System declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 shares. This buyback authorization allows the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.