WCM Investment Management LLC Sells 55,571 Shares of Landstar System, Inc. $LSTR

WCM Investment Management LLC lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 48.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 60,207 shares of the transportation company’s stock after selling 55,571 shares during the quarter. WCM Investment Management LLC owned 0.18% of Landstar System worth $9,450,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LSTR. Los Angeles Capital Management LLC acquired a new position in shares of Landstar System in the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Landstar System during the 3rd quarter worth about $25,000. Global Retirement Partners LLC boosted its position in shares of Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after acquiring an additional 144 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in 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 acquiring an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its stake in 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 valued at $39,000 after acquiring an additional 298 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LSTR. Morgan Stanley restated an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a research note on Monday, July 6th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Truist Financial boosted their price target on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $192.42.

Landstar System Price Performance

Shares of LSTR stock opened at $211.17 on Tuesday. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46. The stock has a market capitalization of $7.16 billion, a PE ratio of 58.33 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The stock’s fifty day moving average is $205.42 and its 200-day moving average is $175.53.

Landstar System (NASDAQ:LSTR) last released its quarterly 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. 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 analysts’ expectations of $1.16 billion. During the same period in the previous year, the business posted $0.95 earnings per share. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. Equities research analysts expect that Landstar System, Inc. will post 5.73 EPS for the current fiscal year.

Landstar System Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio 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 repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares of the company’s stock, 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 document filed with the SEC, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This trade represents a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by corporate insiders.

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.