Landstar System, Inc. (LSTR) to Issue Annual Dividend of $2.00 on January 21st

Landstar System, Inc. (NASDAQ:LSTR) announced an annual dividend on Wednesday, December 3rd. Shareholders of record on Tuesday, January 6th will be given a dividend of 2.00 per share by the transportation company on Wednesday, January 21st. This represents a yield of 142.0%. The ex-dividend date of this dividend is Tuesday, January 6th.

Landstar System has raised its dividend by an average of 0.3%annually over the last three years and has raised its dividend annually for the last 10 consecutive years. Landstar System has a payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.8%.

Landstar System Trading Up 2.1%

LSTR opened at $146.78 on Friday. The company has a fifty day moving average price of $134.45 and a two-hundred day moving average price of $133.16. Landstar System has a 1-year low of $119.32 and a 1-year high of $179.74. The company has a market cap of $5.04 billion, a P/E ratio of 37.44 and a beta of 0.84. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, October 28th. The transportation company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Landstar System had a net margin of 2.87% and a return on equity of 17.24%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The business’s quarterly revenue was down .7% on a year-over-year basis. Analysts predict that Landstar System will post 6.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of LSTR. Quarry LP bought a new position in Landstar System in the 3rd quarter valued at $25,000. MAI Capital Management boosted its holdings in shares of Landstar System by 79.3% in the 2nd quarter. MAI Capital Management now owns 242 shares of the transportation company’s stock worth $34,000 after buying an additional 107 shares during the last quarter. UMB Bank n.a. grew its position in Landstar System by 335.8% during the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock valued at $36,000 after buying an additional 225 shares during the period. Geneos Wealth Management Inc. increased its holdings in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in Landstar System by 118.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 280 shares of the transportation company’s stock worth $39,000 after acquiring an additional 152 shares during the period. Hedge funds and other institutional investors own 97.95% of the company’s stock.

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.