Man Group plc Makes New Investment in Landstar System, Inc. $LSTR

Man Group plc bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, HoldingsChannel reports. The fund bought 64,414 shares of the transportation company’s stock, valued at approximately $13,321,000.

Other large investors also recently modified their holdings of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Landstar System during the fourth quarter worth about $25,000. Quarry LP acquired a new position in shares of Landstar System in the 3rd quarter valued at approximately $25,000. Global Retirement Partners LLC grew its position in shares of Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Landstar System during the 2nd quarter worth approximately $35,000. Finally, Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Price Performance

Shares of LSTR opened at $181.80 on Friday. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 47.10 and a beta of 0.90. The company’s fifty day simple moving average is $195.82 and its 200 day simple moving average 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 current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last posted 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 business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.20 EPS. On average, research analysts forecast 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. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.0%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s payout ratio is 45.60%.

Analyst Ratings Changes

Several research analysts have recently weighed in on LSTR shares. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price target for the company in a report on Tuesday, August 4th. 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 research report on Tuesday, July 28th. Susquehanna boosted their price target on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. The Goldman Sachs Group increased their price objective on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Finally, Truist Financial upped their price target on Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $196.00.

Insiders Place Their Bets

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the 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 of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.74% 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.