Landstar System, Inc. $LSTR Shares Sold by NewEdge Wealth LLC

NewEdge Wealth LLC decreased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 21.4% during the 4th quarter, HoldingsChannel reports. The fund owned 16,363 shares of the transportation company’s stock after selling 4,464 shares during the quarter. NewEdge Wealth LLC’s holdings in Landstar System were worth $2,351,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in Landstar System by 151,424.4% in the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after acquiring an additional 6,290,171 shares during the last quarter. Boston Partners lifted its holdings in Landstar System by 24.1% in the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after acquiring an additional 341,808 shares during the last quarter. First Trust Advisors LP lifted its holdings in Landstar System by 31.8% in the third quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock valued at $118,184,000 after acquiring an additional 232,682 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Landstar System by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after acquiring an additional 21,163 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Landstar System by 4.3% in the third quarter. Northern Trust Corp now owns 646,691 shares of the transportation company’s stock valued at $79,258,000 after acquiring an additional 26,905 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on LSTR. Stifel Nicolaus upped their price objective on Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Susquehanna upped their target price on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Morgan Stanley upped their target price on shares of Landstar System from $135.00 to $145.00 and gave the company an “equal weight” rating in a research report on Monday. UBS Group upped their target price on shares of Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $179.36.

Landstar System Stock Down 1.8%

NASDAQ:LSTR opened at $175.74 on Wednesday. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $165.43 and its two-hundred day moving average is $150.55. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $195.84. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 48.55 and a beta of 0.85.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $1.16 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm’s revenue was up 1.6% compared to the same quarter last year. Research analysts anticipate that Landstar System, Inc. will post 5.54 EPS for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s dividend payout ratio is currently 44.20%.

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

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.