Landstar System, Inc. $LSTR Shares Sold by London Co. of Virginia

London Co. of Virginia cut its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 229,155 shares of the transportation company’s stock after selling 9,750 shares during the period. London Co. of Virginia’s holdings in Landstar System were worth $32,930,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Landstar System during the 4th quarter valued at about $25,000. Quarry LP acquired a new stake in shares of Landstar System during the 3rd quarter valued at about $25,000. Global Retirement Partners LLC grew its position in shares of Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares during the period. Geneos Wealth Management Inc. boosted its holdings in 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. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Landstar System by 1,490.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after buying an additional 298 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Morgan Stanley lifted their price objective on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. JPMorgan Chase & Co. lifted their price objective on Landstar System from $161.00 to $179.00 and gave the stock 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 report on Wednesday, April 29th. Wall Street Zen cut Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Susquehanna lifted their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average price target of $183.00.

Landstar System Price Performance

NASDAQ:LSTR opened at $216.15 on Wednesday. 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 1.88 and a current ratio of 1.88. The stock has a market cap of $7.33 billion, a PE ratio of 59.71 and a beta of 0.88. The stock has a 50 day moving average price of $189.82 and a 200 day moving average price of $163.95.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts expect that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Dividend Announcement

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 $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is currently 44.20%.

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

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the 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 sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the sale, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

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.