Landstar System, Inc. $LSTR Position Lessened by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,865 shares of the transportation company’s stock after selling 2,310 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Landstar System were worth $26,709,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LSTR. M&T Bank Corp raised its stake in shares of Landstar System by 151,424.4% during the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock worth $904,495,000 after purchasing an additional 6,290,171 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Landstar System by 5,643.4% during 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 last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Landstar System by 179.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 552,096 shares of the transportation company’s stock valued at $79,336,000 after buying an additional 354,449 shares during the last quarter. Boston Partners lifted its holdings in shares of Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after buying an additional 341,808 shares during the last quarter. Finally, Rivulet Capital LLC acquired a new stake in shares of Landstar System during the 3rd quarter valued at about $36,645,000. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Price Performance

NASDAQ LSTR opened at $224.27 on Friday. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The stock’s 50-day moving average is $187.65 and its two-hundred day moving average is $162.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market cap of $7.61 billion, a P/E ratio of 61.95 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period last year, the company earned $0.95 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. On average, analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is 44.20%.

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

Analyst Upgrades and Downgrades

LSTR has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. UBS Group lifted their price target on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Wells Fargo & Company lifted their price target on Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Stifel Nicolaus lifted their price target on Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Susquehanna lifted their price target on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $183.00.

Insiders Place Their Bets

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the firm’s 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.74% of the stock is currently owned by company insiders.

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.