Redwood Investment Management LLC Takes $1.16 Million Position in Landstar System, Inc. $LSTR

Redwood Investment Management LLC acquired a new position in Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 5,628 shares of the transportation company’s stock, valued at approximately $1,164,000.

Several other hedge funds have also recently added to or reduced their stakes in LSTR. Los Angeles Capital Management LLC acquired a new stake in shares of Landstar System in the 4th quarter valued at $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of Landstar System during the 2nd quarter worth about $35,000. Global Retirement Partners LLC lifted its holdings in Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares during the last quarter. Trust Co. of Vermont acquired a new position in Landstar System in the second quarter valued at about $41,000. Finally, Quarry LP acquired a new position in Landstar System in the third quarter valued at about $25,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on LSTR shares. Robert W. Baird dropped their price objective on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Wall Street Zen raised Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Stifel Nicolaus increased their price target on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. TD Cowen dropped their price target on Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a report on Tuesday, July 28th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $145.00 price target on shares of Landstar System in a report on Monday, July 6th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus target price of $196.00.

Insider Buying and Selling

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The shares were 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 approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by insiders.

Landstar System Trading Up 1.8%

NASDAQ:LSTR opened at $181.63 on Thursday. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The business’s 50-day moving average price is $196.33 and its two-hundred day moving average price is $181.78. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.16 billion, a price-to-earnings ratio of 47.05 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.Landstar System’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. On average, equities analysts expect that Landstar System, Inc. will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, August 18th. Landstar System’s dividend payout ratio is presently 45.60%.

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.