213,694 Shares in Landstar System, Inc. $LSTR Acquired by Jupiter Topco LLC

Jupiter Topco LLC bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 213,694 shares of the transportation company’s stock, valued at approximately $44,195,000. Jupiter Topco LLC owned approximately 0.63% of Landstar System as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of LSTR. Integrated Wealth Concepts LLC grew its holdings in shares of Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after buying an additional 336 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after buying an additional 50,142 shares in the last quarter. Empowered Funds LLC raised its stake in Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after buying an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Landstar System by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after buying an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

LSTR has been the subject of a number of research analyst reports. Robert W. Baird decreased their target price on Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price objective on the stock in a report on Tuesday, August 4th. JPMorgan Chase & Co. boosted their price objective on Landstar System from $198.00 to $204.00 and gave the company a “neutral” rating in a research report on Wednesday, July 29th. Susquehanna increased their target price on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Barclays raised their target price on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $196.00.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction 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 sale, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Diana M. 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 value of $2,488,514.88. Following the sale, the director owned 18,853 shares in the company, valued at $4,171,791.84. The trade was a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company’s stock.

Landstar System Stock Performance

LSTR opened at $181.80 on Friday. The business’s 50-day moving average price is $195.82 and its two-hundred day moving average price is $181.92. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The company has a market capitalization of $6.17 billion, a price-to-earnings ratio of 47.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm earned $1.20 earnings per share. Equities analysts expect that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.44 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Landstar System’s payout ratio is currently 45.60%.

Landstar System 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.