James Todd Sells 1,200 Shares of Landstar System (NASDAQ:LSTR) Stock

Landstar System, Inc. (NASDAQ:LSTR) CFO James Todd sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $208.13 on Thursday. The business’s 50 day moving average price is $190.68 and its 200 day moving average price is $164.50. The firm has a market cap of $7.06 billion, a P/E ratio of 57.49 and a beta of 0.88. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 earnings per share. On average, sell-side analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System announced that its board has approved a stock 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio is currently 44.20%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. M&T Bank Corp lifted its position in shares of 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 buying an additional 6,290,171 shares in the last quarter. Boston Partners lifted its position in shares of Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after buying an additional 341,808 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Landstar System by 19.1% during 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 buying an additional 179,294 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Landstar System by 185.5% during the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after buying an additional 21,163 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LSTR shares. Robert W. Baird upped their price objective on Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday. Evercore set a $181.00 price objective on Landstar System in a research report on Wednesday, April 29th. Susquehanna upped their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Wells Fargo & Company upped their price objective on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, TD Cowen upped their price objective on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Two analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $185.91.

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.