25,437 Shares in Landstar System, Inc. $LSTR Purchased by Caisse de depot et placement du Quebec

Caisse de depot et placement du Quebec acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, HoldingsChannel reports. The fund acquired 25,437 shares of the transportation company’s stock, valued at approximately $5,261,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Man Group plc acquired a new stake in Landstar System in the 2nd quarter valued at about $13,321,000. Jupiter Topco LLC bought a new stake in shares of Landstar System during the second quarter worth $44,195,000. J. Goldman & Co LP bought a new stake in shares of Landstar System during the second quarter worth $4,028,000. Hsbc Holdings PLC acquired a new position in shares of Landstar System during the second quarter valued at $6,242,000. Finally, Canada Pension Plan Investment Board bought a new stake in shares of Landstar System during the second quarter worth approximately $3,102,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Buying and Selling at Landstar System

In related news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction 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 approximately $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LSTR shares. TD Cowen cut their price objective on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a report on Tuesday, July 28th. Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price target for the company in a research note on Tuesday, August 4th. JPMorgan Chase & Co. upped their price target on Landstar System from $198.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Finally, Susquehanna upped their price objective on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Price Performance

NASDAQ LSTR opened at $180.03 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The company has a market capitalization of $6.11 billion, a PE ratio of 46.64 and a beta of 0.90. The firm’s 50 day moving average is $195.27 and its 200-day moving average is $181.91.

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

Landstar System Increases Dividend

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