Landstar System, Inc. (NASDAQ:LSTR) Declares $0.36 Quarterly Dividend

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.36 per share by the transportation company on Tuesday, March 11th. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Tuesday, February 18th.

Landstar System has raised its dividend by an average of 14.5% annually over the last three years. Landstar System has a payout ratio of 19.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $6.70 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 21.5%.

Landstar System Stock Performance

Shares of Landstar System stock traded down $5.95 during trading hours on Thursday, hitting $166.97. 494,490 shares of the company’s stock traded hands, compared to its average volume of 317,040. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 28.64 and a beta of 0.83. Landstar System has a 12-month low of $163.18 and a 12-month high of $197.16. The company has a fifty day simple moving average of $177.67 and a 200-day simple moving average of $182.26.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. Equities research analysts anticipate that Landstar System will post 5.57 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen reduced their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Raymond James downgraded shares of Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. Susquehanna decreased their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. The Goldman Sachs Group decreased their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. Finally, Stephens reduced their price target on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average price target of $171.27.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.00% of the stock is currently owned by insiders.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.