14,995 Shares in Landstar System, Inc. $LSTR Bought by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 14,995 shares of the transportation company’s stock, valued at approximately $3,101,000.

Several other institutional investors have also added to or reduced their stakes in the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Landstar System in the second quarter worth about $35,000. Los Angeles Capital Management LLC bought a new position in Landstar System during the 4th quarter worth approximately $25,000. Global Retirement Partners LLC increased its stake in Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after purchasing an additional 144 shares during the period. Trust Co. of Vermont purchased a new position in Landstar System in the 2nd quarter worth approximately $41,000. Finally, Quarry LP bought a new stake in Landstar System in the third quarter valued at approximately $25,000. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Landstar System

In other news, CFO James Todd sold 1,200 shares of the business’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 owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LSTR shares. Stifel Nicolaus raised their target price on shares of Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Morgan Stanley reissued an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a research note on Monday, July 6th. Truist Financial boosted their price target on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Wells Fargo & Company upped their price target on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Finally, UBS Group reiterated a “neutral” rating and issued a $195.00 price objective 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 given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Landstar System presently has an average rating of “Hold” and an average price target of $196.00.

Landstar System Stock Performance

Shares of LSTR opened at $177.92 on Friday. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46. The business’s fifty day simple moving average is $192.06 and its two-hundred day simple moving average is $182.72. The company has a market cap of $6.04 billion, a price-to-earnings ratio of 46.09 and a beta of 0.90. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter last year, the company posted $1.20 EPS. Research analysts anticipate 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. Stockholders of record on Tuesday, August 18th will be issued a $0.44 dividend. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. Landstar System’s dividend payout ratio (DPR) is presently 45.60%.

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.