Empowered Funds LLC Invests $9.12 Million in Landstar System, Inc. $LSTR

Empowered Funds LLC acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 44,101 shares of the transportation company’s stock, valued at approximately $9,121,000. Empowered Funds LLC owned approximately 0.13% of Landstar System as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Landstar System during the second quarter worth $698,683,000. Boston Partners increased its stake in Landstar System by 24.1% in the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after purchasing an additional 341,808 shares in the last quarter. First Trust Advisors LP increased its stake in Landstar System by 19.1% in the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock valued at $179,315,000 after purchasing an additional 179,294 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after purchasing an additional 641,319 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after purchasing an additional 370,253 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $180.03 on Friday. The stock has a market cap of $6.11 billion, a price-to-earnings ratio of 46.64 and a beta of 0.90. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The firm’s 50-day simple moving average is $195.27 and its 200 day simple moving average is $181.91.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 EPS 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 company had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period last year, the company earned $1.20 earnings per share. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. As a group, research analysts anticipate that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s payout ratio is presently 45.60%.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction 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 in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares of the company’s stock, valued at approximately $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 insiders.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several research reports. Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Truist Financial increased their price target on Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Wolfe Research raised Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price objective for the company in a research note on Tuesday, August 4th. The Goldman Sachs Group boosted their price objective on Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a report on Thursday, July 16th. Finally, UBS Group reaffirmed a “neutral” rating and set a $195.00 target price on shares of Landstar System in a research report on Wednesday, July 29th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $196.00.

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.