Landstar System (NASDAQ:LSTR) CFO James Todd Sells 1,200 Shares of Stock

Landstar System, Inc. (NASDAQ:LSTR) CFO James Todd sold 1,200 shares of the company’s stock in a transaction 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 transaction, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $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 accessible through the SEC website.

Landstar System Stock Down 1.4%

NASDAQ:LSTR opened at $216.15 on Wednesday. The stock’s fifty day moving average price is $189.82 and its two-hundred day moving average price is $163.95. 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 company has a market cap of $7.33 billion, a price-to-earnings ratio of 59.71 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (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 firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the business earned $0.95 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current year.

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

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 issued a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.7%. Landstar System’s dividend payout ratio is currently 44.20%.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several research reports. UBS Group upped their price objective on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Truist Financial upped their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Wells Fargo & Company upped their price objective on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Morgan Stanley raised their price target 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. Finally, Wall Street Zen lowered Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday, May 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, Landstar System has an average rating of “Hold” and an average target price of $183.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. M&T Bank Corp boosted its position 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 worth $904,495,000 after purchasing an additional 6,290,171 shares during the last quarter. Boston Partners boosted its position in shares of Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after purchasing an additional 341,808 shares during the last quarter. 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 raised its stake in Landstar System by 185.5% during 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 during the period. Finally, JPMorgan Chase & Co. raised its stake in Landstar System by 2.9% during 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 period. 97.95% of the stock is currently owned by institutional investors.

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.