The Manufacturers Life Insurance Company Invests $4.85 Million in Landstar System, Inc. $LSTR

The Manufacturers Life Insurance Company acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 23,473 shares of the transportation company’s stock, valued at approximately $4,854,000. The Manufacturers Life Insurance Company owned about 0.07% of Landstar System as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC purchased a new stake in Landstar System during the 4th quarter valued at $25,000. Quarry LP purchased a new position in shares of Landstar System in the 3rd quarter worth $25,000. Global Retirement Partners LLC grew its holdings in shares of Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after acquiring an additional 144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Landstar System in the second quarter worth $35,000. Finally, Geneos Wealth Management Inc. increased its position in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Trading Up 0.3%

Shares of NASDAQ:LSTR opened at $180.63 on Tuesday. The stock has a 50 day moving average of $194.71 and a 200 day moving average of $182.18. The company has a market cap of $6.13 billion, a PE ratio of 46.80 and a beta of 0.90. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46.

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

Landstar System Increases Dividend

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

Insider Buying and Selling at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the business’s 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 transaction, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the company’s 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 transaction, the chief financial officer directly 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 position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Morgan Stanley reissued an “underweight” rating and issued a $145.00 target price on shares of Landstar System in a research report on Monday, July 6th. Robert W. Baird lowered their price objective on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Stifel Nicolaus raised their price objective on shares of Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Zacks Research upgraded shares of Landstar System from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Finally, Barclays upped their target price on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $196.00.

Landstar System 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.