Landstar System, Inc. $LSTR Shares Purchased by Gotham Asset Management LLC

Gotham Asset Management LLC boosted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 30.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 340,451 shares of the transportation company’s stock after acquiring an additional 80,199 shares during the quarter. Gotham Asset Management LLC’s holdings in Landstar System were worth $48,923,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. M&T Bank Corp grew its holdings 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. AQR Capital Management LLC grew its position in shares of Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares during the last quarter. Bank of Montreal Can increased its position in Landstar System by 5,643.4% during the fourth quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock worth $55,577,000 after buying an additional 380,024 shares during the period. Goldman Sachs Group Inc. boosted its stake in Landstar System by 179.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 552,096 shares of the transportation company’s stock worth $79,336,000 after purchasing an additional 354,449 shares during the period. Finally, Boston Partners raised its stake in shares of Landstar System by 24.1% during the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after purchasing an additional 341,808 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related 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 transaction of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The stock was 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 SEC filing for this sale provides additional information. Corporate insiders own 0.74% of the company’s stock.

Landstar System Trading Down 3.7%

Shares of NASDAQ:LSTR opened at $208.13 on Thursday. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The company has a market cap of $7.06 billion, a PE ratio of 57.49 and a beta of 0.88. The company’s 50-day moving average price is $190.68 and its 200 day moving average price is $164.50. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

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

Landstar System announced that its Board of Directors has approved a share buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Analyst Ratings Changes

Several research analysts have issued reports on LSTR shares. Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday. Wells Fargo & Company raised their price objective on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Evercore set a $181.00 price target on shares of Landstar System in a report on Wednesday, April 29th. JPMorgan Chase & Co. increased their price objective on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Two equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $185.91.

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.