Landstar System, Inc. $LSTR Stake Cut by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,209,660 shares of the transportation company’s stock after selling 47,189 shares during the period. Vanguard Group Inc. owned about 0.09% of Landstar System worth $461,228,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of LSTR. Integrated Wealth Concepts LLC grew its position in shares of Landstar System by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after buying an additional 336 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Landstar System by 57.1% in the first quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC boosted its stake in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 1,298 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Landstar System by 13.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after acquiring an additional 16,698 shares during the period. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Landstar System by 132.7% during 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 during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LSTR. Stifel Nicolaus increased their price target on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Evercore set a $181.00 price objective on Landstar System in a research note on Wednesday, April 29th. JPMorgan Chase & Co. increased their target price on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Susquehanna raised their target price on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, Robert W. Baird set a $193.00 price target on shares of Landstar System in a 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 assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $178.45.

Landstar System Stock Performance

LSTR opened at $180.32 on Wednesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $162.55 and its 200-day moving average is $148.88. The stock has a market cap of $6.12 billion, a PE ratio of 49.81 and a beta of 0.85. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $195.84.

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, 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the prior year, the company posted $0.95 EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, analysts predict that Landstar System, Inc. will post 5.55 earnings per share for the current year.

Landstar System announced that its board has approved a share repurchase plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. Landstar System’s dividend payout ratio (DPR) is 44.20%.

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.