Sanctuary Advisors LLC Takes $1.41 Million Position in Landstar System, Inc. $LSTR

Sanctuary Advisors LLC acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,827 shares of the transportation company’s stock, valued at approximately $1,412,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Integrated Wealth Concepts LLC grew its stake in shares of Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after buying an additional 336 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Landstar System by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC lifted its holdings in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Landstar System by 13.3% in the first 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 acquiring an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. grew its position in Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

LSTR has been the topic of a number of research analyst reports. Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Morgan Stanley reiterated an “underweight” rating and set a $145.00 price target on shares of Landstar System in a report on Monday, July 6th. Wall Street Zen upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. UBS Group reaffirmed a “neutral” rating and issued a $195.00 target price on shares of Landstar System in a research report on Wednesday, July 29th. Finally, Janney Montgomery Scott set a $182.00 target price on shares of Landstar System in a research note on Wednesday, July 29th. Two investment 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 issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Stock Up 1.8%

Shares of NASDAQ:LSTR opened at $181.63 on Thursday. The company has a market capitalization of $6.16 billion, a PE ratio of 47.05 and a beta of 0.90. 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, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46. The firm has a 50 day simple moving average of $196.33 and a 200-day simple moving average of $181.78.

Landstar System (NASDAQ:LSTR) last posted its 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). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the business earned $1.20 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts predict that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed 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 is a positive change from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. Landstar System’s dividend payout ratio is 45.60%.

Insider Transactions at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was 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 directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by insiders.

Landstar System 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.