Sequoia Financial Advisors LLC Invests $425,000 in Landstar System, Inc. $LSTR

Sequoia Financial Advisors LLC purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, HoldingsChannel reports. The firm purchased 2,958 shares of the transportation company’s stock, valued at approximately $425,000.

A number of other institutional investors also recently made changes to their positions in the stock. Equitable Trust Co. lifted its stake in shares of Landstar System by 9.2% in the 4th quarter. Equitable Trust Co. now owns 7,230 shares of the transportation company’s stock worth $1,039,000 after acquiring an additional 610 shares during the period. Fenimore Asset Management Inc lifted its stake in shares of Landstar System by 42.5% in the 4th quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock worth $69,862,000 after acquiring an additional 145,035 shares during the period. Benjamin Edwards Inc. raised its holdings in shares of Landstar System by 18.4% in the 4th quarter. Benjamin Edwards Inc. now owns 3,814 shares of the transportation company’s stock worth $548,000 after purchasing an additional 592 shares in the last quarter. Horizon Investments LLC bought a new stake in shares of Landstar System in the 4th quarter worth approximately $673,000. Finally, State of New Jersey Common Pension Fund D raised its holdings in shares of Landstar System by 5.5% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 17,273 shares of the transportation company’s stock worth $2,482,000 after purchasing an additional 896 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Price Performance

LSTR stock opened at $176.04 on Monday. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $195.84. The company’s 50 day simple moving average is $165.98 and its 200-day simple moving average is $151.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $5.97 billion, a P/E ratio of 48.63 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Landstar System, Inc. will post 5.55 EPS for the current year.

Landstar System announced that its board has initiated a share 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 stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be issued a dividend of $0.40 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Landstar System’s payout ratio is currently 44.20%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LSTR. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday. Susquehanna boosted their target price on shares of Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. TD Cowen boosted their target price on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Finally, UBS Group boosted their target price on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $179.36.

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.