Copeland Capital Management LLC Sells 3,846 Shares of Landstar System, Inc. $LSTR

Copeland Capital Management LLC trimmed its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 377,389 shares of the transportation company’s stock after selling 3,846 shares during the quarter. Landstar System makes up about 1.3% of Copeland Capital Management LLC’s portfolio, making the stock its 24th biggest position. Copeland Capital Management LLC owned 1.11% of Landstar System worth $60,499,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. M&T Bank Corp boosted its stake in shares of Landstar System by 151,424.4% during the fourth 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 stake in shares of Landstar System by 24.1% during the third 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 in the last quarter. AQR Capital Management LLC raised its stake in shares of Landstar System by 185.5% during the fourth 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 in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Landstar System by 99.5% in the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after purchasing an additional 370,253 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Landstar System by 19.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 706,446 shares of the transportation company’s stock worth $101,516,000 after purchasing an additional 116,619 shares during the period. 97.95% of the stock is owned by institutional investors.

Insider Activity

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on 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 transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the business’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 of the company’s stock, valued at $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several research reports. UBS Group raised their price target on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings raised Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Evercore set a $181.00 price target on Landstar System in a research report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their price objective on Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $192.42.

Landstar System Trading Down 0.1%

Landstar System stock opened at $211.56 on Friday. The stock has a 50-day moving average price of $204.78 and a 200 day moving average price of $174.86. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of 58.44 and a beta of 0.89. 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 released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter last year, the business posted $0.95 EPS. The company’s revenue was up 1.6% on a year-over-year basis. Sell-side analysts anticipate that Landstar System, Inc. will post 5.73 EPS for the current year.

Landstar System declared that its Board of Directors has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to buy up to 3.3% of its shares through open market purchases. Shares 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 disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.40 dividend. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Landstar System’s dividend payout ratio is 44.20%.

About Landstar System

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.