GSA Capital Partners LLP Acquires Shares of 9,481 Landstar System, Inc. $LSTR

GSA Capital Partners LLP bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, HoldingsChannel.com reports. The fund bought 9,481 shares of the transportation company’s stock, valued at approximately $1,961,000.

Several other institutional investors and hedge funds have also made changes to their positions in LSTR. M&T Bank Corp boosted its stake in shares of Landstar System by 151,424.4% during the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after purchasing an additional 6,290,171 shares during the period. AQR Capital Management LLC lifted its holdings in Landstar System by 185.5% during the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares in the last quarter. Millennium Management LLC lifted its holdings in Landstar System by 910.2% during the 4th quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock valued at $77,868,000 after buying an additional 488,238 shares in the last quarter. Bank of Montreal Can boosted its position in Landstar System by 5,643.4% in the 4th quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock valued at $55,577,000 after buying an additional 380,024 shares during the period. Finally, Corient Private Wealth LLC boosted its position in Landstar System by 99.5% in the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after buying an additional 370,253 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The stock was 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 in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction on 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 transaction, the director owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

LSTR has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Landstar System from $198.00 to $204.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 29th. Stephens upgraded Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Susquehanna increased their price objective on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Morgan Stanley restated an “underweight” rating and set a $145.00 price objective on shares of Landstar System in a report on Monday, July 6th. Finally, UBS Group reaffirmed a “neutral” rating and set a $195.00 target price on shares of Landstar System in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $196.00.

Landstar System Stock Performance

NASDAQ LSTR opened at $190.19 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 49.27 and a beta of 0.90. The company’s 50-day simple moving average is $202.08 and its two-hundred day simple moving average is $180.17. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same quarter in the prior year, the firm posted $1.20 EPS. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. Equities analysts forecast that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System announced that its Board of Directors has authorized a share repurchase plan 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 buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. Landstar System’s payout ratio is presently 41.45%.

Landstar System Company 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.