First Trust Advisors LP Has $179.31 Million Holdings in Landstar System, Inc. $LSTR

First Trust Advisors LP boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 19.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,118,554 shares of the transportation company’s stock after purchasing an additional 179,294 shares during the period. First Trust Advisors LP’s holdings in Landstar System were worth $179,315,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC bought a new stake in shares of Landstar System in the fourth quarter worth about $25,000. Quarry LP bought a new position in shares of Landstar System during the 3rd quarter valued at about $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. Geneos Wealth Management Inc. grew its position in shares of Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in Landstar System by 1,490.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after purchasing an additional 298 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the business’s 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 sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at $3,299,166.74. The trade was a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the transaction, the director owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on LSTR. The Goldman Sachs Group raised their target price on shares of Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Robert W. Baird upped their price target on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Stifel Nicolaus increased their price objective on shares of Landstar System from $175.00 to $186.00 and gave the stock a “hold” rating in a research report on Monday, July 13th. Morgan Stanley restated an “underweight” rating and set a $145.00 price objective on shares of Landstar System in a report on Monday, July 6th. Finally, Truist Financial boosted their price objective on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average target price of $192.42.

Landstar System Stock Down 1.9%

Shares of Landstar System stock opened at $210.07 on Thursday. The firm has a market cap of $7.13 billion, a PE ratio of 58.03 and a beta of 0.89. The business’s 50 day simple moving average is $206.89 and its 200 day simple moving average is $176.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.95 EPS. On average, analysts predict that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System announced that its board has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were issued a dividend of $0.40 per share. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.8%. Landstar System’s dividend payout ratio is presently 44.20%.

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.