Reinhart Partners LLC. Has $117.70 Million Stake in Landstar System, Inc. $LSTR

Reinhart Partners LLC. trimmed its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 16.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 569,090 shares of the transportation company’s stock after selling 113,446 shares during the period. Landstar System accounts for about 2.7% of Reinhart Partners LLC.’s investment portfolio, making the stock its 15th biggest holding. Reinhart Partners LLC.’s holdings in Landstar System were worth $117,697,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Integrated Wealth Concepts LLC boosted its stake in Landstar System by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after acquiring an additional 336 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after purchasing an additional 50,142 shares during the period. Empowered Funds LLC lifted its stake in shares of Landstar System by 38.3% in the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after purchasing an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Landstar System by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after purchasing an additional 16,698 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 worth $37,000 after purchasing an additional 142 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LSTR has been the subject of a number of recent analyst reports. Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Stephens upgraded Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Susquehanna boosted their target price on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Barclays upped their price target on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Finally, Stifel Nicolaus increased their price target on shares of Landstar System from $186.00 to $197.00 and gave the company a “hold” rating in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and an average price target of $196.00.

Landstar System Stock Performance

LSTR stock opened at $182.99 on Friday. The business’s 50-day moving average price is $205.25 and its two-hundred day moving average price is $178.95. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. The firm has a market cap of $6.21 billion, a PE ratio of 47.41 and a beta of 0.90. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46.

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

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is currently 41.45%.

Landstar System declared that its board has initiated a share buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to reacquire 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 shares are undervalued.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the transaction, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by corporate insiders.

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.