Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 51,779 Landstar System, Inc. $LSTR

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 51,779 shares of the transportation company’s stock, valued at approximately $8,301,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.15% of Landstar System as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC acquired a new stake in Landstar System in the 4th quarter valued at about $25,000. Global Retirement Partners LLC raised its position in Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after acquiring an additional 144 shares during the last quarter. Quarry LP acquired a new position in Landstar System during the third quarter worth about $25,000. 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 valued at $37,000 after purchasing an additional 142 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Landstar System by 81.0% in the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock valued at $40,000 after purchasing an additional 124 shares during the last quarter. Institutional investors and hedge funds 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 dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated 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 transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was 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.

Landstar System Stock Performance

Shares of LSTR opened at $185.32 on Wednesday. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The company’s 50 day simple moving average is $208.49 and its 200 day simple moving average is $177.83. The company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 51.19 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last issued 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 net margin of 2.62% and a return on equity of 19.49%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same quarter last year, the firm posted $1.20 earnings per share. The company’s revenue was up 18.2% on a year-over-year basis. On average, sell-side analysts predict that Landstar System, Inc. will post 5.73 EPS for the current year.

Landstar System declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to buy up to 3.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 0.9%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. Landstar System’s dividend payout ratio (DPR) is currently 44.20%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LSTR shares. Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. Barclays increased their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. The Goldman Sachs Group raised their price target on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. TD Cowen cut their price target on Landstar System from $200.00 to $178.00 and set a “hold” rating for the company in a report on Tuesday. Finally, Susquehanna increased their price objective on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven 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 $192.67.

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.