Landstar System, Inc. $LSTR Shares Bought by Quantinno Capital Management LP

Quantinno Capital Management LP lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 108.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 173,362 shares of the transportation company’s stock after buying an additional 90,153 shares during the quarter. Quantinno Capital Management LP owned about 0.51% of Landstar System worth $27,792,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. First Citizens Bank & Trust Co. grew its position in shares of Landstar System by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after buying an additional 68 shares during the last quarter. Petros Family Wealth LLC lifted its position in Landstar System by 4.9% in the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after acquiring an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Landstar System by 29.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after acquiring an additional 78 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in Landstar System by 1.4% in the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after acquiring an additional 89 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in Landstar System by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock valued at $1,120,000 after acquiring an additional 91 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Insider Activity at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction that occurred on Monday, June 15th. The stock was 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 in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed 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 shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. The trade was 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 corporate insiders.

Landstar System Trading Up 3.2%

NASDAQ LSTR opened at $174.77 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.82. The firm has a market cap of $5.93 billion, a PE ratio of 45.28 and a beta of 0.89. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The firm’s fifty day moving average is $207.44 and its two-hundred day moving average is $178.08.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.34 billion. During the same period in the previous year, the company posted $1.20 earnings per share. Landstar System’s quarterly revenue was up 18.2% on a year-over-year basis. Analysts expect that Landstar System, Inc. will post 5.8 earnings per share for the current year.

Landstar System announced that its Board of Directors has authorized a stock buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 1.0%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is currently 45.60%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on LSTR. Robert W. Baird dropped their price objective on Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a report on Wednesday. Barclays boosted their target price on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Susquehanna raised their price target on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Evercore set a $181.00 price target on Landstar System in a research report on Wednesday, April 29th. Finally, UBS Group reiterated a “neutral” rating and issued a $195.00 price objective on shares of Landstar System in a research note on Wednesday. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $194.62.

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.