Horizon Investments LLC Takes $673,000 Position in Landstar System, Inc. $LSTR

Horizon Investments LLC bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 4,748 shares of the transportation company’s stock, valued at approximately $673,000.

A number of other large investors also recently made changes to their positions in LSTR. Quarry LP bought a new stake in shares of Landstar System in the 3rd quarter valued at approximately $25,000. Geneos Wealth Management Inc. lifted 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 worth $37,000 after buying an additional 142 shares during the last quarter. Private Trust Co. NA lifted its holdings in shares of Landstar System by 81.0% during the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock worth $40,000 after buying an additional 124 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of 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 buying an additional 225 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Landstar System by 126.6% during the second quarter. EverSource Wealth Advisors LLC now owns 315 shares of the transportation company’s stock worth $44,000 after buying an additional 176 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Up 0.8%

Shares of Landstar System stock opened at $183.39 on Friday. The business’s 50 day simple moving average is $163.97 and its 200 day simple moving average is $149.60. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $195.84. The firm has a market cap of $6.22 billion, a PE ratio of 50.66 and a beta of 0.85. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 EPS. On average, analysts predict that Landstar System, Inc. will post 5.55 earnings per share for the current fiscal year.

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

Landstar System Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently commented on LSTR shares. JPMorgan Chase & Co. upped their target price on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Benchmark restated a “hold” rating on shares of Landstar System in a report on Thursday, January 29th. Stifel Nicolaus increased their target price on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. TD Cowen raised their price target on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Susquehanna raised 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 analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $178.45.

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.