Gotham Asset Management LLC Purchases 80,199 Shares of Landstar System, Inc. $LSTR

Gotham Asset Management LLC boosted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 30.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,451 shares of the transportation company’s stock after purchasing an additional 80,199 shares during the quarter. Gotham Asset Management LLC owned about 0.99% of Landstar System worth $48,923,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in LSTR. CWM LLC raised its stake in Landstar System by 196.5% in the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock worth $884,000 after buying an additional 4,075 shares in the last quarter. Fenimore Asset Management Inc increased its holdings in shares of Landstar System by 42.5% in the 4th quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock valued at $69,862,000 after acquiring an additional 145,035 shares during the period. SG Americas Securities LLC raised its position in shares of Landstar System by 673.0% in the 4th quarter. SG Americas Securities LLC now owns 21,157 shares of the transportation company’s stock worth $3,040,000 after acquiring an additional 18,420 shares in the last quarter. Citigroup Inc. boosted its position in Landstar System by 112.0% during the third quarter. Citigroup Inc. now owns 112,870 shares of the transportation company’s stock valued at $13,833,000 after purchasing an additional 59,626 shares in the last quarter. Finally, Burgundy Asset Management Ltd. boosted its position in Landstar System by 19.2% during the third quarter. Burgundy Asset Management Ltd. now owns 85,380 shares of the transportation company’s stock valued at $11,298,000 after purchasing an additional 13,780 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Susquehanna raised their price target on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Truist Financial raised their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Morgan Stanley boosted their target price on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. UBS Group increased their price target on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Finally, TD Cowen boosted their price target on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $185.91.

Landstar System Trading Down 3.7%

Landstar System stock opened at $208.13 on Thursday. The company has a current ratio of 1.88, a quick ratio of 1.88 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. The stock’s 50 day simple moving average is $190.68 and its two-hundred day simple moving average is $164.50. The firm has a market cap of $7.06 billion, a PE ratio of 57.49 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. Analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s payout ratio is presently 44.20%.

Landstar System announced that its board has authorized a stock buyback plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the firm’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 transaction, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction of $2,488,514.88. Following the transaction, the director 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. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by insiders.

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.