London Co. of Virginia Has $35.67 Million Holdings in Landstar System, Inc. $LSTR

London Co. of Virginia lowered its stake in Landstar System, Inc. (NASDAQ:LSTR) by 2.9% during the first quarter, HoldingsChannel.com reports. The firm owned 222,509 shares of the transportation company’s stock after selling 6,646 shares during the period. London Co. of Virginia’s holdings in Landstar System were worth $35,671,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Los Angeles Capital Management LLC bought a new position in Landstar System during the 4th quarter worth approximately $25,000. Quarry LP bought a new position in Landstar System in the third quarter valued at approximately $25,000. Global Retirement Partners LLC lifted its stake in Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. 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, Caitong International Asset Management Co. Ltd lifted its position in shares of Landstar System by 1,490.0% in 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 in the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Stock Down 3.7%

Landstar System stock opened at $200.28 on Friday. The company has a market capitalization of $6.80 billion, a PE ratio of 55.33 and a beta of 0.89. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The firm’s fifty day moving average is $208.18 and its 200 day moving average is $177.08. 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 (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. As a group, sell-side analysts predict that Landstar System, Inc. will post 5.73 EPS for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.8%. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Landstar System announced that its Board of Directors has approved a share 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 purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. UBS Group boosted their target price on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Stephens upgraded Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Morgan Stanley reissued an “underweight” rating and issued a $145.00 price objective on shares of Landstar System in a report on Monday, July 6th. Finally, Wells Fargo & Company boosted their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $192.42.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,200 shares of Landstar System 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 directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the business’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 sale, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company’s stock.

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.