Inspire Investing LLC Grows Holdings in Landstar System, Inc. $LSTR

Inspire Investing LLC increased its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 480.9% during the 4th quarter, Holdings Channel reports. The firm owned 21,550 shares of the transportation company’s stock after purchasing an additional 17,840 shares during the quarter. Inspire Investing LLC’s holdings in Landstar System were worth $3,097,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in LSTR. Integrated Wealth Concepts LLC boosted its holdings in Landstar System by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after purchasing an additional 336 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake 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 valued at $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 last quarter. 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 last quarter. Finally, Geneos Wealth Management Inc. boosted 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 last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Performance

NASDAQ LSTR opened at $208.13 on Thursday. The company’s 50 day moving average is $190.68 and its 200-day moving average is $164.50. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a market cap of $7.06 billion, a P/E ratio of 57.49 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company’s quarterly revenue was up 1.6% compared to the same quarter last year. Sell-side analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Landstar System’s payout ratio is 44.20%.

Landstar System announced that its board has authorized a share buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization permits the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on LSTR. TD Cowen boosted their target price on shares of Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. UBS Group boosted their target price on shares of Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday. Finally, Robert W. Baird boosted their target price on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average target price of $185.91.

Insider Activity at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the sale, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the sale, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.74% of the company’s stock.

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.