Chicago Partners Investment Group LLC Acquires New Shares in Landstar System, Inc. $LSTR

Chicago Partners Investment Group LLC bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,675 shares of the transportation company’s stock, valued at approximately $652,000.

Several other large investors also recently bought and sold shares of LSTR. Los Angeles Capital Management LLC purchased a new stake in Landstar System during the 4th quarter valued at $25,000. Global Retirement Partners LLC lifted its position in Landstar System by 320.0% during the fourth 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 in the last quarter. Quarry LP bought a new stake in Landstar System during the 3rd quarter worth approximately $25,000. Geneos Wealth Management Inc. increased its stake in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares in the last quarter. Finally, Private Trust Co. NA raised its position in shares of Landstar System by 81.0% during the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock valued at $40,000 after buying an additional 124 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Landstar System Trading Down 0.1%

NASDAQ LSTR opened at $211.56 on Friday. The company’s 50-day moving average price is $204.78 and its 200-day moving average price is $174.86. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The stock has a market cap of $7.18 billion, a PE ratio of 58.44 and a beta of 0.89. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter last year, the firm posted $0.95 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. Equities research analysts forecast that Landstar System, Inc. will post 5.73 earnings per share for the current year.

Landstar System announced that its board has authorized a share buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Landstar System’s dividend payout ratio (DPR) is 44.20%.

Insider Activity at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction on Friday, June 5th. The shares were 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 of the company’s stock, 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. Insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

LSTR has been the topic of several recent research reports. Stifel Nicolaus upped their target price on shares of Landstar System from $175.00 to $186.00 and gave the company a “hold” rating in a research report on Monday, July 13th. Barclays boosted their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. UBS Group raised their price target on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Weiss Ratings raised shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Finally, Wells Fargo & Company increased their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System has an average rating of “Hold” and an average target price of $192.42.

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.