6,000 Shares in Landstar System, Inc. $LSTR Acquired by Manatuck Hill Partners LLC

Manatuck Hill Partners LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 6,000 shares of the transportation company’s stock, valued at approximately $862,000.

A number of other institutional investors and hedge funds also recently modified their holdings of LSTR. Inspire Investing LLC raised its stake in Landstar System by 480.9% during the 4th quarter. Inspire Investing LLC now owns 21,550 shares of the transportation company’s stock valued at $3,097,000 after purchasing an additional 17,840 shares during the period. Gotham Asset Management LLC increased its position in Landstar System by 30.8% during the fourth quarter. Gotham Asset Management LLC now owns 340,451 shares of the transportation company’s stock worth $48,923,000 after buying an additional 80,199 shares during the last quarter. Capitolis Liquid Global Markets LLC bought a new stake in Landstar System during the fourth quarter valued at about $6,754,000. Align Financial LLC bought a new stake in Landstar System during the fourth quarter valued at about $1,012,000. Finally, Freestone Grove Partners LP bought a new stake in Landstar System during the fourth quarter valued at about $1,356,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Activity at Landstar System

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 value of $261,804.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s 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 ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on LSTR shares. Stifel Nicolaus upped their price target on shares of Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Susquehanna increased their target price on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Wells Fargo & Company increased their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $185.91.

Landstar System Stock Performance

NASDAQ LSTR opened at $208.13 on Thursday. The firm has a market cap of $7.06 billion, a price-to-earnings ratio of 57.49 and a beta of 0.88. The company has a 50 day moving average of $190.68 and a 200-day moving average of $164.50. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. 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 quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.05. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.95 earnings per share. On average, equities analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System declared that its Board of Directors has initiated a share repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Landstar System Announces Dividend

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

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.