WCM Investment Management LLC Sells 55,571 Shares of Landstar System, Inc. $LSTR

WCM Investment Management LLC trimmed its position in Landstar System, Inc. (NASDAQ:LSTR) by 48.0% during the first quarter, HoldingsChannel.com reports. The fund owned 60,207 shares of the transportation company’s stock after selling 55,571 shares during the period. WCM Investment Management LLC’s holdings in Landstar System were worth $9,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of LSTR. Los Angeles Capital Management LLC bought a new stake in Landstar System in the fourth quarter valued at approximately $25,000. Quarry LP bought a new position in shares of Landstar System during the third quarter worth $25,000. Global Retirement Partners LLC boosted its position in shares of Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after purchasing an additional 144 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in shares of 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 buying an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd increased its position in shares of Landstar System by 1,490.0% in the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after buying an additional 298 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Insider Activity

In related news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.74% of the company’s stock.

Landstar System Price Performance

Shares of LSTR opened at $211.17 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $205.42 and its 200 day simple moving average is $175.53. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The company has a market cap of $7.16 billion, a price-to-earnings ratio of 58.33 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, research analysts forecast 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 repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Landstar System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is 44.20%.

Analyst Ratings Changes

Several analysts recently commented on LSTR shares. Susquehanna raised their price objective on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $145.00 price objective on shares of Landstar System in a research report on Monday, July 6th. TD Cowen increased their target price on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. The Goldman Sachs Group upped their target price on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a report on Thursday, July 16th. Finally, Stephens raised Landstar System to a “strong-buy” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $192.42.

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.