2,866 Shares in Landstar System, Inc. $LSTR Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, HoldingsChannel reports. The institutional investor acquired 2,866 shares of the transportation company’s stock, valued at approximately $593,000.

Other large investors have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Landstar System in the fourth quarter worth $25,000. Quarry LP purchased a new stake in shares of Landstar System in the third quarter worth $25,000. Global Retirement Partners LLC increased its holdings in shares of Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Landstar System during the second quarter valued at $35,000. Finally, Geneos Wealth Management Inc. raised its position in shares of Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Tuesday, August 4th. Morgan Stanley reaffirmed an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a report on Monday, July 6th. 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. Finally, Janney Montgomery Scott set a $182.00 price target on shares of Landstar System in a report on Wednesday, July 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $196.00.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.74% of the company’s stock.

Landstar System Stock Down 0.6%

LSTR stock opened at $185.02 on Thursday. The stock has a market capitalization of $6.28 billion, a P/E ratio of 47.93 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The business has a fifty day moving average price of $200.01 and a 200-day moving average price of $180.94.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data 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 for the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the business earned $1.20 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts forecast that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.0%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is currently 45.60%.

Landstar System declared that its board has initiated a share buyback program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits 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 of directors believes its stock is undervalued.

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.