River Road Asset Management LLC Buys Shares of 125,829 Landstar System, Inc. $LSTR

River Road Asset Management LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 125,829 shares of the transportation company’s stock, valued at approximately $18,082,000.

A number of other large investors have also added to or reduced their stakes in LSTR. Vestmark Advisory Solutions Inc. grew its holdings in Landstar System by 0.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after acquiring an additional 78 shares during the last quarter. CIBC Private Wealth Group LLC raised its stake in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 78 shares during the last quarter. SkyView Investment Advisors LLC raised its stake in shares of Landstar System by 1.4% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after acquiring an additional 89 shares during the last quarter. Huntington National Bank lifted its holdings in shares of Landstar System by 9.7% during the third quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock worth $138,000 after purchasing an additional 100 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Landstar System by 14.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 814 shares of the transportation company’s stock worth $117,000 after purchasing an additional 100 shares during the period. Institutional investors own 97.95% of the company’s stock.

Insider Activity

In other news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction 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 owned 15,122 shares of the company’s stock, 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 document filed with the SEC, 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 dated Friday, June 5th. The shares were 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 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 owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LSTR shares. Truist Financial increased their price objective on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Susquehanna boosted their price objective on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Evercore set a $181.00 target price on shares of Landstar System in a research note on Wednesday, April 29th. Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Two analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $185.91.

Landstar System Stock Performance

LSTR stock 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 firm has a market cap of $7.04 billion, a PE ratio of 57.29 and a beta of 0.88. The business has a 50 day moving average of $192.21 and a 200-day moving average of $165.33. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.

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

Landstar System Announces Dividend

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

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.