Landstar System (NASDAQ:LSTR) Releases Earnings Results

Landstar System (NASDAQ:LSTR) issued its earnings results on Wednesday. The transportation company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04, reports. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.11%.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded down $0.17 during trading hours on Friday, hitting $177.26. 313,188 shares of the company’s stock traded hands, compared to its average volume of 270,637. Landstar System has a 52 week low of $161.13 and a 52 week high of $208.62. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.00 and a current ratio of 2.22. The company’s fifty day simple moving average is $184.33 and its two-hundred day simple moving average is $183.48. The company has a market cap of $6.34 billion, a price-to-earnings ratio of 27.27, a price-to-earnings-growth ratio of 4.68 and a beta of 0.83.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. Landstar System’s dividend payout ratio (DPR) is 20.31%.

Insider Activity

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the vice president now owns 61,127 shares in the company, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.00% of the company’s stock.

Institutional Trading of Landstar System

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Landstar System by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 3,454,652 shares of the transportation company’s stock valued at $668,993,000 after buying an additional 27,026 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Landstar System by 19.2% in the fourth quarter. Victory Capital Management Inc. now owns 1,394,389 shares of the transportation company’s stock worth $270,024,000 after purchasing an additional 224,286 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Landstar System by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 555,085 shares of the transportation company’s stock worth $107,496,000 after purchasing an additional 21,395 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Landstar System by 1.8% during the fourth quarter. Wells Fargo & Company MN now owns 437,754 shares of the transportation company’s stock worth $84,771,000 after purchasing an additional 7,669 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of Landstar System by 55.1% during the third quarter. Invesco Ltd. now owns 417,932 shares of the transportation company’s stock worth $73,949,000 after purchasing an additional 148,490 shares during the period. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Stifel Nicolaus dropped their target price on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Friday. Wells Fargo & Company increased their target price on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. UBS Group upped their price target on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Finally, Susquehanna lowered their price target on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating for the company in a research report on Friday. Nine investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $184.09.

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.