Landstar System Inc. (LSTR) Declares $0.09 Quarterly Dividend
Landstar System Inc. (NASDAQ:LSTR) announced a quarterly dividend on Wednesday, October 19th. Shareholders of record on Tuesday, November 8th will be paid a dividend of 0.09 per share on Friday, December 2nd. This represents a $0.36 annualized dividend and a dividend yield of 0.55%.
Shares of Landstar System (NASDAQ:LSTR) remained flat at $65.75 during midday trading on Wednesday. The stock had a trading volume of 1,147,126 shares. The company has a market capitalization of $2.77 billion, a P/E ratio of 20.32 and a beta of 0.80. Landstar System has a 12-month low of $53.03 and a 12-month high of $72.97. The company has a 50-day moving average price of $67.29 and a 200-day moving average price of $67.44.
Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 19th. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. The business had revenue of $788 million for the quarter, compared to analyst estimates of $576.65 million. Landstar System had a return on equity of 28.83% and a net margin of 4.37%. Landstar System’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.90 EPS. On average, equities analysts anticipate that Landstar System will post $3.08 EPS for the current fiscal year.
In related news, CMO Patrick J. O’malley sold 1,787 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $69.17, for a total transaction of $123,606.79. Following the transaction, the chief marketing officer now directly owns 40,237 shares of the company’s stock, valued at approximately $2,783,193.29. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of LSTR. Catalyst Capital Advisors LLC purchased a new position in Landstar System during the second quarter worth $137,000. Pacer Advisors Inc. purchased a new position in Landstar System during the second quarter worth $193,000. Reliance Trust Co. of Delaware purchased a new position in Landstar System during the second quarter worth $226,000. Allianz Asset Management AG purchased a new position in Landstar System during the second quarter worth $242,000. Finally, Hsbc Holdings PLC increased its position in Landstar System by 6.0% in the second quarter. Hsbc Holdings PLC now owns 4,567 shares of the company’s stock worth $313,000 after buying an additional 257 shares during the period.
LSTR has been the topic of a number of research reports. Zacks Investment Research upgraded Landstar System from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Oppenheimer Holdings Inc. lowered Landstar System to an “outperform” rating in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. lowered Landstar System to a “market perform” rating in a research report on Tuesday, August 2nd. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has assigned a buy rating to the company. Landstar System has an average rating of “Hold” and a consensus target price of $62.66.
Landstar System Company Profile
Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.
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