OneDigital Investment Advisors LLC Invests $1.54 Million in Landstar System, Inc. $LSTR

OneDigital Investment Advisors LLC purchased a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,460 shares of the transportation company’s stock, valued at approximately $1,543,000.

A number of other large investors also recently bought and sold shares of the business. Elevation Wealth Partners LLC increased its stake in Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after purchasing an additional 66 shares during the period. First Citizens Bank & Trust Co. increased its stake in Landstar System by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock worth $755,000 after buying an additional 68 shares during the period. Petros Family Wealth LLC lifted its holdings in Landstar System by 4.9% during the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after buying an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in Landstar System by 29.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after buying an additional 78 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in Landstar System by 1.4% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after buying an additional 89 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, 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. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by corporate insiders.

Landstar System Trading Up 1.7%

NASDAQ LSTR opened at $193.38 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The company has a market capitalization of $6.56 billion, a price-to-earnings ratio of 50.10 and a beta of 0.90. The company’s 50-day simple moving average is $201.44 and its two-hundred day simple moving average is $180.46. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company posted $1.20 EPS. Landstar System’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts forecast that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System declared that its board has initiated a stock repurchase plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Landstar System Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. Landstar System’s payout ratio is presently 41.45%.

Analyst Upgrades and Downgrades

LSTR has been the topic of a number of research analyst reports. 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. Stifel Nicolaus boosted their price target on Landstar System from $186.00 to $197.00 and gave the company a “hold” rating in a report on Wednesday, July 29th. Barclays increased their price objective on Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. Robert W. Baird reduced their price objective on Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Truist Financial raised their price objective on Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $196.00.

About Landstar System

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.