State of Wyoming Takes $1.27 Million Position in Landstar System, Inc. $LSTR

State of Wyoming bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,165 shares of the transportation company’s stock, valued at approximately $1,275,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. GSA Capital Partners LLP acquired a new position in shares of Landstar System during the 2nd quarter worth about $1,961,000. Oppenheimer Asset Management Inc. acquired a new stake in Landstar System in the 2nd quarter worth about $1,931,000. Walleye Capital LLC acquired a new stake in Landstar System in the 2nd quarter worth about $21,043,000. Fulton Bank N.A. increased its stake in Landstar System by 8.0% during the 2nd quarter. Fulton Bank N.A. now owns 2,620 shares of the transportation company’s stock worth $542,000 after buying an additional 194 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its stake in Landstar System by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after buying an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling

In related news, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction 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 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 disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

Landstar System Stock Up 0.8%

Shares of NASDAQ LSTR opened at $190.19 on Friday. The stock has a market cap of $6.45 billion, a PE ratio of 49.27 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. The company has a 50-day moving average of $202.08 and a 200 day moving average of $179.98.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $1.20 earnings per share. As a group, sell-side analysts predict that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

Landstar System announced that its board has initiated a share buyback program on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization allows the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be issued a $0.44 dividend. This is a boost from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, August 18th. Landstar System’s payout ratio is 45.60%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on LSTR shares. Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Susquehanna boosted their price target on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. UBS Group reiterated a “neutral” rating and set a $195.00 price target on shares of Landstar System in a research report on Wednesday, July 29th. Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Finally, Truist Financial raised their price objective on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Company 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.