Public Employees Retirement System of Ohio Acquires Shares of 14,995 Landstar System, Inc. $LSTR

Public Employees Retirement System of Ohio bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 14,995 shares of the transportation company’s stock, valued at approximately $3,101,000.

A number of other institutional investors have also modified their holdings of the stock. Elevation Wealth Partners LLC raised its stake in shares of Landstar System by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 66 shares in the last quarter. First Citizens Bank & Trust Co. lifted its stake in shares of Landstar System by 1.5% during the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock worth $755,000 after purchasing an additional 68 shares during the last quarter. Petros Family Wealth LLC grew its position in shares of Landstar System by 4.9% in the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock worth $248,000 after buying an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after purchasing an additional 78 shares in the last quarter. Finally, SkyView Investment Advisors LLC lifted its holdings in shares of Landstar System by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after purchasing an additional 89 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

NASDAQ:LSTR opened at $177.92 on Friday. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The firm has a market cap of $6.04 billion, a price-to-earnings ratio of 46.09 and a beta of 0.90. The firm’s fifty day moving average is $192.06 and its two-hundred day moving average is $182.72.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share 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 20.84% and a net margin of 2.64%.Landstar System’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.20 earnings per share. Research analysts expect that Landstar System, Inc. will post 5.84 EPS for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. Landstar System’s dividend payout ratio is 45.60%.

Insider Transactions at Landstar System

In other Landstar System news, CFO James Todd sold 1,200 shares of the business’s stock in a transaction that occurred on 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. The trade was 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. Insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Susquehanna boosted their target price on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 target price for the company in a research note on Tuesday, August 4th. The Goldman Sachs Group boosted their target price on shares of Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. TD Cowen lowered their price objective on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. Finally, Morgan Stanley restated an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a research note on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $196.00.

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.