Healthcare of Ontario Pension Plan Trust Fund Invests $8.30 Million in Landstar System, Inc. $LSTR

Healthcare of Ontario Pension Plan Trust Fund bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the 1st quarter, Holdings Channel reports. The institutional investor bought 51,779 shares of the transportation company’s stock, valued at approximately $8,301,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC increased its stake in 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 acquiring an additional 336 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Landstar System by 57.1% in 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 in the last quarter. Empowered Funds LLC lifted its stake in shares of Landstar System by 38.3% in 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Landstar System by 13.3% during 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 purchasing an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of 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 purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Price Performance

LSTR stock opened at $185.32 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The firm has a market cap of $6.29 billion, a P/E ratio of 51.19 and a beta of 0.89. The stock has a 50-day simple moving average of $208.49 and a 200-day simple moving average of $177.83.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the firm posted $1.20 earnings per share. On average, equities analysts predict that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, August 18th. Landstar System’s payout ratio is 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 shares. This repurchase authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms recently commented on LSTR. Stifel Nicolaus raised their price target on shares of Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a report on Monday, July 13th. Truist Financial boosted their price objective on shares of Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a research note on Wednesday, July 15th. Evercore set a $181.00 price objective on shares of Landstar System in a research report on Wednesday, April 29th. Susquehanna raised their target price on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, Robert W. Baird raised their target price on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $192.67.

Insider Buying and Selling

In other news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction on Friday, June 5th. The shares were 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 directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

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.