Louisiana State Employees Retirement System Makes New Investment in Landstar System, Inc. $LSTR

Louisiana State Employees Retirement System purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 9,900 shares of the transportation company’s stock, valued at approximately $1,587,000.

Other large investors have also recently made changes to their positions in the company. M&T Bank Corp increased its position in shares of Landstar System by 151,424.4% in the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after acquiring an additional 6,290,171 shares during the period. Boston Partners grew its stake in Landstar System by 24.1% during the 3rd 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 during the last quarter. AQR Capital Management LLC increased its holdings 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 during the period. First Trust Advisors LP lifted its holdings in shares of Landstar System by 31.8% during the third quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock worth $118,184,000 after purchasing an additional 232,682 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in 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 buying an additional 21,163 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Trading Up 0.3%

LSTR stock opened at $207.35 on Thursday. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week 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 $7.04 billion, a P/E ratio of 57.28 and a beta of 0.88. The company’s 50-day simple moving average is $198.24 and its 200-day simple moving average is $169.26.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $1.16 billion. During the same quarter last year, the firm posted $0.95 EPS. The business’s revenue was up 1.6% on a year-over-year basis. As a group, equities analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System announced that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a $0.40 dividend. 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 currently 44.20%.

Insider Transactions at Landstar System

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

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LSTR shares. Wall Street Zen downgraded shares of Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. TD Cowen increased their price objective on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Barclays raised their target price on shares of Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. Evercore set a $181.00 target price on shares of Landstar System in a research report on Wednesday, April 29th. Finally, Robert W. Baird upped their price target on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Two analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $189.09.

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.