James Todd Sells 1,200 Shares of Landstar System (NASDAQ:LSTR) Stock

Landstar System, Inc. (NASDAQ:LSTR) CFO James 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 transaction of $261,804.00. Following the completion of the transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Landstar System Stock Performance

Landstar System stock traded down $3.46 during mid-day trading on Tuesday, reaching $215.81. The company’s stock had a trading volume of 397,237 shares, compared to its average volume of 528,402. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 59.62 and a beta of 0.88. The business has a 50 day moving average price of $188.77 and a 200-day moving average price of $163.35. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46.

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

Landstar System declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Landstar System’s payout ratio is currently 44.20%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. TD Cowen boosted their price objective on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Stifel Nicolaus boosted their price objective on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Evercore set a $181.00 price objective on Landstar System in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $183.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. M&T Bank Corp raised its stake in shares of Landstar System by 151,424.4% in the fourth quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after purchasing an additional 6,290,171 shares in the last quarter. Boston Partners raised its stake in shares of 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 raised its stake in shares of 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 stake in shares of Landstar System by 185.5% in 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 in the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Landstar System by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after purchasing an additional 21,163 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.