Insider Selling: Landstar System (NASDAQ:LSTR) CFO Sells 1,200 Shares of Stock

Landstar System, Inc. (NASDAQ:LSTR) CFO James 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 completion of the sale, the chief financial officer owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Landstar System Price Performance

NASDAQ:LSTR traded down $3.46 during trading hours on Tuesday, reaching $215.81. The company had a trading volume of 397,237 shares, compared to its average volume of 528,402. The stock has a 50-day moving average of $188.77 and a two-hundred day moving average of $163.35. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The firm has a market capitalization of $7.32 billion, a PE ratio of 59.62 and a beta of 0.88. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The business’s revenue was up 1.6% compared to the same quarter last year. Analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio is 44.20%.

Landstar System announced that its Board of Directors has approved a stock repurchase 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 buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several analysts have recently commented on the company. Morgan Stanley increased their target price on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. Susquehanna increased their target price on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Evercore set a $181.00 target price on Landstar System in a report on Wednesday, April 29th. Weiss Ratings upgraded Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, April 29th. Finally, TD Cowen increased their target price on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus target price of $183.00.

Institutional Trading of Landstar System

Hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its holdings in Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after acquiring an additional 336 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after acquiring an additional 50,142 shares in the last quarter. Empowered Funds LLC raised its holdings in Landstar System by 38.3% in the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Landstar System by 13.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after acquiring an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

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.