Landstar System, Inc. $LSTR Position Increased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio boosted its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 41,489 shares of the transportation company’s stock after buying an additional 2,947 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Landstar System were worth $6,651,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. CWM LLC raised its holdings in Landstar System by 196.5% during the 4th quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock worth $884,000 after buying an additional 4,075 shares during the period. Fenimore Asset Management Inc increased its position in shares of Landstar System by 42.5% in the fourth quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock worth $69,862,000 after acquiring an additional 145,035 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Landstar System by 673.0% in the fourth 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. Norges Bank acquired a new stake in shares of Landstar System during the fourth quarter valued at approximately $35,280,000. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Landstar System during the fourth quarter valued at approximately $862,000. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the company’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 transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction 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 completion of the transaction, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.74% of the company’s stock.

Landstar System Stock Performance

LSTR stock opened at $185.32 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $6.29 billion, a P/E ratio of 51.19 and a beta of 0.89. The firm has a 50 day simple moving average of $208.49 and a 200 day simple moving average of $177.83. 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 data on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.20 earnings per share. Research analysts anticipate that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System announced that its board has authorized a share buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors 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. Stockholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. This is an increase from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio is presently 44.20%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LSTR shares. Susquehanna raised their price objective on shares of Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. 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. Truist Financial increased their target price on Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a report on Wednesday, July 15th. Stephens raised Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price target on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $192.67.

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.