Vise Technologies Inc. Purchases New Shares in Landstar System, Inc. $LSTR

Vise Technologies Inc. acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,805 shares of the transportation company’s stock, valued at approximately $1,407,000.

Several other institutional investors have also bought and sold shares of LSTR. Los Angeles Capital Management LLC purchased a new position in shares of Landstar System in the fourth quarter worth about $25,000. Quarry LP purchased a new position in shares of Landstar System in the third quarter valued at $25,000. Global Retirement Partners LLC raised its stake in shares of Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Landstar System during the 2nd quarter worth about $35,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Landstar System by 132.7% in 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 in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Insider Activity

In related news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The stock was 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 directly owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LSTR shares. Janney Montgomery Scott set a $182.00 target price on shares of Landstar System in a research note on Wednesday, July 29th. Susquehanna upped their price target on shares of Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Barclays increased their price objective on Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 25th. The Goldman Sachs Group lifted their price objective on Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Landstar System currently has a consensus rating of “Hold” and a consensus price target of $196.00.

Landstar System Stock Up 2.3%

Shares of NASDAQ LSTR opened at $186.58 on Friday. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82. The firm’s 50 day simple moving average is $198.40 and its two-hundred day simple moving average is $181.21. The stock has a market capitalization of $6.33 billion, a P/E ratio of 48.34 and a beta of 0.90.

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

Landstar System declared that its board has initiated a share repurchase plan 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 buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be paid a $0.44 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Landstar System’s dividend payout ratio is presently 45.60%.

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.