35,637 Shares in Landstar System, Inc. $LSTR Acquired by Callan Family Office LLC

Callan Family Office LLC purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 35,637 shares of the transportation company’s stock, valued at approximately $7,370,000.

Several other institutional investors have also modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in Landstar System during the 4th quarter worth about $25,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Landstar System in the 2nd quarter valued at about $35,000. Global Retirement Partners LLC boosted its stake in shares of Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after buying an additional 144 shares during the period. Trust Co. of Vermont purchased a new position in shares of Landstar System in the 2nd quarter valued at about $41,000. Finally, Quarry LP acquired a new position in shares of Landstar System during the third quarter worth about $25,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Stifel Nicolaus lifted their price target on shares of Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research note on Wednesday, July 29th. Zacks Research upgraded shares of Landstar System from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Truist Financial increased their price objective on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. Finally, Susquehanna raised their price objective on shares of Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Landstar System presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Stock Performance

Shares of LSTR opened at $186.58 on Friday. The stock has a 50 day moving average price of $198.40 and a 200 day moving average price of $181.21. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 48.34 and a beta of 0.90. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $228.46.

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

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 paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 0.9%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is 45.60%.

Landstar System declared that its board has initiated a share buyback plan on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at $3,299,166.74. The trade was a 7.35% 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, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by insiders.

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.