Landstar System, Inc. $LSTR Shares Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio increased its stake in Landstar System, Inc. (NASDAQ:LSTR) by 7.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,489 shares of the transportation company’s stock after purchasing an additional 2,947 shares during the period. Public Employees Retirement System of Ohio owned 0.12% of Landstar System worth $6,651,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Bank of Nova Scotia bought a new position in Landstar System during the 1st quarter worth $4,119,000. Sei Investments Co. lifted its stake in Landstar System by 22.6% in the first quarter. Sei Investments Co. now owns 93,369 shares of the transportation company’s stock valued at $14,965,000 after buying an additional 17,186 shares during the last quarter. Walleye Capital LLC bought a new stake in Landstar System in the first quarter valued at $13,765,000. State of Wyoming boosted its holdings in shares of Landstar System by 251.5% during the first quarter. State of Wyoming now owns 1,603 shares of the transportation company’s stock valued at $257,000 after acquiring an additional 1,147 shares during the period. Finally, NewEdge Wealth LLC boosted its holdings in shares of Landstar System by 11.1% during the first quarter. NewEdge Wealth LLC now owns 18,184 shares of the transportation company’s stock valued at $2,915,000 after acquiring an additional 1,821 shares during the period. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the 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 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. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction, 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 SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Landstar System Stock Down 3.3%

Landstar System stock opened at $185.32 on Wednesday. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 51.19 and a beta of 0.89. The company’s 50-day moving average price is $208.49 and its two-hundred day moving average price is $177.83. 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 (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The company had revenue of $1.43 billion during 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 company’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.20 earnings per share. On average, analysts expect that Landstar System, Inc. will post 5.73 EPS for the current fiscal year.

Landstar System announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. Landstar System’s payout ratio is currently 44.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. TD Cowen decreased their target price on shares of Landstar System from $200.00 to $178.00 and set a “hold” rating for the company in a research report on Tuesday. The Goldman Sachs Group raised their price target on shares of Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research note on Thursday, July 16th. Finally, UBS Group boosted their price objective on Landstar System from $147.00 to $185.00 and gave the stock 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 given a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $192.67.

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.