Diana Murphy Sells 11,246 Shares of Landstar System (NASDAQ:LSTR) Stock

Landstar System, Inc. (NASDAQ:LSTR) Director Diana Murphy sold 11,246 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Landstar System Price Performance

Shares of LSTR traded up $7.31 during trading hours on Monday, hitting $225.37. The stock had a trading volume of 489,115 shares, compared to its average volume of 534,190. The company’s fifty day moving average is $181.14 and its two-hundred day moving average is $159.25. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46. The stock has a market capitalization of $7.65 billion, a price-to-earnings ratio of 62.26 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm earned $0.95 EPS. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System announced that its board has authorized a stock buyback program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. Landstar System’s dividend payout ratio is presently 44.20%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. M&T Bank Corp lifted 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 valued at $904,495,000 after purchasing an additional 6,290,171 shares during the period. Boston Partners raised its position in shares of Landstar System by 24.1% in 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 raised its position 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 period. AQR Capital Management LLC raised its position 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 period. Finally, JPMorgan Chase & Co. increased its stake in Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock worth $91,492,000 after purchasing an additional 21,163 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

LSTR has been the topic of several analyst reports. Morgan Stanley upped their target price on shares of Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Truist Financial upped their price target on shares of Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. upped their price target on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Evercore set a $181.00 price target on shares of Landstar System in a research report on Wednesday, April 29th. Finally, Stifel Nicolaus upped their price target on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target 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.