Landstar System, Inc. $LSTR Shares Purchased by Royce & Associates LP

Royce & Associates LP increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 23.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 284,558 shares of the transportation company’s stock after acquiring an additional 53,793 shares during the period. Royce & Associates LP’s holdings in Landstar System were worth $40,891,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP acquired a new position in Landstar System during the third quarter worth $25,000. Global Retirement Partners LLC raised its holdings 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 purchasing an additional 144 shares during the last quarter. UMB Bank n.a. raised its holdings in Landstar System by 335.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock worth $36,000 after purchasing an additional 225 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in Landstar System by 132.7% during the first 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. Finally, Caitong International Asset Management Co. Ltd raised its holdings in Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after purchasing an additional 298 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $194.01 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $195.84. The stock’s fifty day simple moving average is $170.39 and its 200-day simple moving average is $154.05. The company has a market capitalization of $6.58 billion, a P/E ratio of 53.59 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) 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 business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities research analysts forecast that Landstar System, Inc. will post 5.55 earnings per share for the current fiscal year.

Landstar System announced that its Board of Directors has initiated a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Tuesday, May 19th. Landstar System’s dividend payout ratio is currently 44.20%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Landstar System from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, April 29th. Stifel Nicolaus lifted their price objective on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. UBS Group lifted their price objective on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Susquehanna lifted their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Finally, TD Cowen lifted their price objective on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Landstar System has a consensus rating of “Hold” and an average target price of $179.36.

Landstar System 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.