Landstar System, Inc. Declares Quarterly Dividend of $0.33 (NASDAQ:LSTR)

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Shareholders of record on Wednesday, May 8th will be given a dividend of 0.33 per share by the transportation company on Friday, May 24th. This represents a $1.32 annualized dividend and a yield of 0.74%. The ex-dividend date is Tuesday, May 7th.

Landstar System has raised its dividend payment by an average of 16.8% per year over the last three years and has increased its dividend every year for the last 10 years. Landstar System has a payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $8.28 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.9%.

Landstar System Price Performance

LSTR opened at $177.43 on Friday. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.04. Landstar System has a 52-week low of $161.13 and a 52-week high of $208.62. The company has a 50 day moving average of $184.66 and a two-hundred day moving average of $183.48. The company has a market cap of $6.34 billion, a P/E ratio of 27.30, a P/E/G ratio of 4.51 and a beta of 0.83.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Wednesday, April 24th. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. On average, analysts expect that Landstar System will post 6.71 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the sale, the vice president now owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

LSTR has been the topic of a number of research analyst reports. UBS Group increased their price objective on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, February 2nd. Stifel Nicolaus reduced their price objective on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research note on Friday, February 2nd. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price objective on the stock in a research note on Wednesday, January 10th. Wells Fargo & Company increased their price objective on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, February 2nd. Finally, Susquehanna reduced their price objective on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a research note on Monday, March 25th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $184.55.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.