Landstar System, Inc. $LSTR Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 108.3% in the 1st quarter, HoldingsChannel reports. The firm owned 173,362 shares of the transportation company’s stock after purchasing an additional 90,153 shares during the period. Quantinno Capital Management LP’s holdings in Landstar System were worth $27,792,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. SummitTX Capital L.P. boosted its holdings in Landstar System by 29.5% in the 1st quarter. SummitTX Capital L.P. now owns 34,838 shares of the transportation company’s stock valued at $5,585,000 after purchasing an additional 7,935 shares in the last quarter. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Landstar System in the 1st quarter valued at approximately $320,000. Waverly Advisors LLC acquired a new stake in shares of Landstar System in the 1st quarter valued at approximately $270,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Landstar System in the first quarter valued at about $8,301,000. Finally, Renaissance Technologies LLC increased its holdings in Landstar System by 42.8% in the first quarter. Renaissance Technologies LLC now owns 80,440 shares of the transportation company’s stock valued at $12,895,000 after buying an additional 24,100 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,200 shares of the business’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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction on 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 completion of the sale, the director owned 18,853 shares in the company, valued at $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. 0.74% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on LSTR. Robert W. Baird decreased their price target on Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday. Susquehanna raised their price objective on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price objective on Landstar System from $198.00 to $204.00 and gave the stock a “neutral” rating in a report on Wednesday. Morgan Stanley reiterated an “underweight” rating and set a $145.00 target price on shares of Landstar System in a research report on Monday, July 6th. Finally, Wells Fargo & Company upped their target price on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, June 5th. 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 issued a Sell rating to the company’s stock. According to MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus target price of $194.62.

Landstar System Stock Up 3.2%

Shares of NASDAQ LSTR opened at $174.77 on Friday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The company has a market capitalization of $5.93 billion, a PE ratio of 45.28 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.88. The firm’s 50-day moving average is $207.44 and its two-hundred day moving average is $178.08.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the company earned $1.20 earnings per share. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Landstar System, Inc. will post 5.8 EPS for the current fiscal year.

Landstar System announced that its board has approved a share repurchase program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 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 generally an indication that the company’s management believes its stock is undervalued.

Landstar System Increases Dividend

The business also recently announced 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. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. Landstar System’s payout ratio is currently 45.60%.

Landstar System Company Profile

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.