Legal & General Group Plc Sells 13,516 Shares of Landstar System, Inc. $LSTR

Legal & General Group Plc cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,193 shares of the transportation company’s stock after selling 13,516 shares during the quarter. Legal & General Group Plc’s holdings in Landstar System were worth $8,219,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Global Retirement Partners LLC increased its stake in Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after purchasing an additional 144 shares in the last quarter. Quarry LP bought a new position in shares of Landstar System during the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. boosted its holdings in shares of Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after buying an additional 142 shares during the last quarter. Private Trust Co. NA boosted its holdings in shares of Landstar System by 81.0% in the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock valued at $40,000 after buying an additional 124 shares during the last quarter. Finally, UMB Bank n.a. boosted its holdings in shares of Landstar System by 335.8% in the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after buying an additional 225 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Down 0.7%

LSTR stock opened at $218.06 on Friday. 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 stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of 60.24 and a beta of 0.88. The business’s fifty day moving average price is $181.14 and its two-hundred day moving average price is $159.00. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $224.85.

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

Landstar System declared that its Board of Directors has approved a share buyback program 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Susquehanna increased their price objective on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wells Fargo & Company increased their price objective on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Friday. UBS Group increased their price objective on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Truist Financial raised their price target on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $183.00.

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.