Landstar System (NASDAQ:LSTR) Trading Down 3.9% Following Insider Selling

Landstar System, Inc. (NASDAQ:LSTR)’s stock price was down 3.9% during mid-day trading on Wednesday after an insider sold shares in the company. The stock traded as low as $209.14 and last traded at $210.7150. Approximately 23,847 shares traded hands during trading, a decline of 95% from the average daily volume of 528,402 shares. The stock had previously closed at $219.27.

Specifically, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction dated Monday, June 15th. The stock was 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 $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analysts Set New Price Targets

Several research analysts have recently commented on LSTR shares. Wall Street Zen downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Morgan Stanley lifted their price objective on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Monday, May 11th. Susquehanna raised their price target on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Stifel Nicolaus boosted their price objective on shares of Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company raised their target price on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $185.91.

Landstar System Price Performance

The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The company has a market cap of $7.14 billion, a PE ratio of 58.15 and a beta of 0.88. The firm has a 50 day moving average of $189.82 and a two-hundred day moving average of $163.95.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. Research analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is currently 44.20%.

Landstar System declared that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 shares. This repurchase authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Landstar System

Institutional investors have recently made changes to their positions in the company. M&T Bank Corp raised its holdings in 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 worth $904,495,000 after acquiring an additional 6,290,171 shares during the last quarter. Boston Partners lifted its holdings 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 purchasing an additional 341,808 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Landstar System by 19.1% during the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after buying an additional 179,294 shares during the last quarter. AQR Capital Management LLC increased its holdings in Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after buying an additional 641,319 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in Landstar System by 2.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock worth $91,492,000 after buying an additional 21,163 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.