2,483 Shares in Landstar System, Inc. $LSTR Bought by HB Wealth Management LLC

HB Wealth Management LLC purchased a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,483 shares of the transportation company’s stock, valued at approximately $398,000.

Several other institutional investors have also added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC boosted its holdings in shares of Landstar System by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after purchasing an additional 336 shares during the period. Goldman Sachs Group Inc. raised its position in Landstar System by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after purchasing an additional 50,142 shares during the last quarter. Empowered Funds LLC raised its position in Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after purchasing an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Landstar System by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after buying an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in shares of Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on LSTR shares. Barclays upped their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Stifel Nicolaus raised their target price on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Stephens raised shares of Landstar System to a “strong-buy” rating in a research note on Wednesday. Finally, Susquehanna boosted their price target on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $189.09.

Insider Activity at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction 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 completion of the transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the transaction, the chief financial officer directly 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. 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 Up 0.8%

LSTR traded up $1.62 during trading on Friday, reaching $209.32. The stock had a trading volume of 308,189 shares, compared to its average volume of 412,272. The stock’s 50 day moving average is $201.89 and its two-hundred day moving average is $172.07. 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 $7.10 billion, a price-to-earnings ratio of 57.82 and a beta of 0.89. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last announced its 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. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.95 EPS. As a group, analysts expect that Landstar System, Inc. will post 5.66 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a $0.40 dividend. 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 payout ratio is currently 44.20%.

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

Landstar System 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.