Landstar System (NASDAQ:LSTR) Stock: Insider Frank Lonegro Buys 5,000 Shares

Landstar System, Inc. (NASDAQ:LSTR) CEO Frank Lonegro purchased 5,000 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was bought at an average price of $142.92 per share, for a total transaction of $714,600.00. Following the transaction, the chief executive officer directly owned 28,110 shares in the company, valued at $4,017,481.20. This trade represents a 21.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Landstar System Price Performance

Landstar System stock traded up $4.04 during midday trading on Monday, reaching $146.74. The company’s stock had a trading volume of 20,645 shares, compared to its average volume of 484,079. Landstar System, Inc. has a fifty-two week low of $121.11 and a fifty-two week high of $228.46. The firm has a market capitalization of $4.95 billion, a PE ratio of 31.09 and a beta of 0.89. The stock’s 50 day simple moving average is $170.04 and its 200 day simple moving average is $176.54. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 1.79.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the previous year, the firm posted $1.22 EPS. The company’s revenue for the quarter was up 25.4% compared to the same quarter last year. On average, equities research analysts forecast that Landstar System, Inc. will post 5.75 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 17th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Landstar System’s dividend payout ratio is presently 37.29%.

Institutional Investors Weigh In On Landstar System

A number of institutional investors have recently modified their holdings of the business. Elevation Wealth Partners LLC raised its holdings in Landstar System by 41.8% in the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after acquiring an additional 66 shares in the last quarter. First Citizens Bank & Trust Co. increased its stake in shares of 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 valued at $755,000 after acquiring an additional 68 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in Landstar System by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock worth $1,120,000 after acquiring an additional 91 shares in the last quarter. State of Michigan Retirement System increased its position in shares of Landstar System by 1.2% during the first quarter. State of Michigan Retirement System now owns 8,170 shares of the transportation company’s stock worth $1,310,000 after acquiring an additional 100 shares in the last quarter. Finally, Essential Partners LLC raised its stake in shares of Landstar System by 58.3% in the first quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock worth $44,000 after purchasing an additional 102 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LSTR. Evercore set a $182.00 price objective on Landstar System in a research report on Wednesday. Stifel Nicolaus cut their target price on shares of Landstar System from $197.00 to $179.00 and set a “hold” rating for the company in a research report on Wednesday. Susquehanna reduced their price objective on shares of Landstar System from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Monday. TD Cowen decreased their price target on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. Finally, Robert W. Baird decreased their price objective on Landstar System from $215.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 28th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $182.33.

About Landstar System

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.