Landstar System, Inc. (NASDAQ:LSTR) Plans Quarterly Dividend of $0.33

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 0.33 per share by the transportation company on Friday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, May 7th.

Landstar System has raised its dividend by an average of 16.8% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Landstar System has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $8.28 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.9%.

Landstar System Stock Performance

Shares of LSTR traded down $0.14 during trading hours on Friday, hitting $177.29. The company had a trading volume of 15,074 shares, compared to its average volume of 272,612. The firm has a market cap of $6.34 billion, a price-to-earnings ratio of 27.30, a PEG ratio of 4.51 and a beta of 0.83. The business has a fifty day moving average of $184.66 and a 200-day moving average of $183.48. Landstar System has a 12 month low of $161.13 and a 12 month high of $208.62. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last released its earnings results on Wednesday, April 24th. The transportation company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.28 by $0.04. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Equities analysts anticipate that Landstar System will post 6.71 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Michael K. Kneller sold 12,219 shares of Landstar System stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the sale, the vice president now directly owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price on the stock in a report on Wednesday, January 10th. Wells Fargo & Company raised their target price on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Susquehanna decreased their target price on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, March 25th. UBS Group raised their target price on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Finally, Stifel Nicolaus reduced their price target on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Eight equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $184.55.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.