Landstar System (NASDAQ:LSTR) CFO Sells $261,804.00 in Stock

Landstar System, Inc. (NASDAQ:LSTR) CFO James Todd sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Landstar System Stock Down 0.4%

Shares of NASDAQ LSTR opened at $207.40 on Friday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The stock has a market cap of $7.04 billion, a PE ratio of 57.29 and a beta of 0.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average of $191.49 and a 200 day moving average of $165.04.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for 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 business’s revenue was up 1.6% on a year-over-year basis. During the same period last year, the company posted $0.95 EPS. As a group, sell-side analysts predict that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Landstar System Announces Dividend

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

Hedge Funds Weigh In On Landstar System

Several large investors have recently modified their holdings of LSTR. Los Angeles Capital Management LLC acquired a new stake in shares of Landstar System during the 4th quarter worth about $25,000. Quarry LP acquired a new position in Landstar System in the third quarter valued at about $25,000. Global Retirement Partners LLC lifted its position in Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after buying an additional 144 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd boosted its stake in Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LSTR shares. Susquehanna upped their target price on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen lowered Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Robert W. Baird upped their price objective on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group raised their price objective on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, TD Cowen lifted their target price on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Landstar System has an average rating of “Hold” and a consensus price target of $185.91.

About Landstar System

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.