State of Wyoming Takes Position in Landstar System, Inc. $LSTR

State of Wyoming acquired a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 6,165 shares of the transportation company’s stock, valued at approximately $1,275,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LSTR. M&T Bank Corp raised its position in Landstar System by 151,424.4% during the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock worth $904,495,000 after buying an additional 6,290,171 shares during the last quarter. Boston Partners lifted its stake in Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after acquiring an additional 341,808 shares during the period. First Trust Advisors LP boosted its holdings in shares of Landstar System by 19.1% in the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after acquiring an additional 179,294 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after acquiring an additional 641,319 shares during the last quarter. Finally, Corient Private Wealth LLC raised its holdings in shares of Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after purchasing an additional 370,253 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Activity

In related news, CFO James P. Todd sold 1,200 shares of the company’s 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 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research report on Thursday, July 16th. Janney Montgomery Scott set a $182.00 price target on Landstar System in a research report on Wednesday, July 29th. Truist Financial lifted their price objective on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. Susquehanna boosted their price objective on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Stifel Nicolaus upped their target price on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $196.00.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $190.19 on Friday. The company has a market capitalization of $6.45 billion, a PE ratio of 49.27 and a beta of 0.90. 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 company’s fifty day moving average price is $202.08 and its 200 day moving average price is $179.98. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data 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 firm had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 EPS. On average, research analysts predict that Landstar System, Inc. will post 5.84 earnings per share for the current year.

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

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is presently 45.60%.

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.