Clarkston Capital Partners LLC Has $17.19 Million Stock Holdings in Landstar System, Inc. $LSTR

Clarkston Capital Partners LLC lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 42.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 107,210 shares of the transportation company’s stock after selling 78,655 shares during the quarter. Landstar System accounts for about 1.3% of Clarkston Capital Partners LLC’s investment portfolio, making the stock its 29th biggest holding. Clarkston Capital Partners LLC owned about 0.32% of Landstar System worth $17,187,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of LSTR. M&T Bank Corp grew its holdings in shares of Landstar System by 151,424.4% in 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 during the period. Boston Partners raised its stake in Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after buying an additional 341,808 shares during the period. First Trust Advisors LP raised its stake in 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 worth $179,315,000 after buying an additional 179,294 shares during the period. AQR Capital Management LLC lifted its holdings in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after acquiring an additional 641,319 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in 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 acquiring an additional 370,253 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Trading Down 1.0%

NASDAQ LSTR opened at $207.97 on Friday. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s 50 day moving average price is $207.69 and its two-hundred day moving average price is $176.92. The stock has a market capitalization of $7.06 billion, a price-to-earnings ratio of 57.45 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last issued its quarterly 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. The company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. As a group, analysts anticipate that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid 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 payout ratio is presently 44.20%.

Landstar System declared that its board has authorized a share buyback plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

LSTR has been the subject of several recent analyst reports. Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. The Goldman Sachs Group boosted 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, July 16th. Stephens raised Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Susquehanna raised their target price on shares of Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Finally, Truist Financial lifted their price target on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $192.42.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the stock in a transaction dated 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 transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the firm’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 completion of the transaction, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. The trade was a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by insiders.

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.