64,414 Shares in Landstar System, Inc. $LSTR Purchased by Man Group plc

Man Group plc purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 64,414 shares of the transportation company’s stock, valued at approximately $13,321,000. Man Group plc owned approximately 0.19% of Landstar System as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of LSTR. BlackRock Inc. acquired a new position in shares of Landstar System in the 2nd quarter worth approximately $698,683,000. AQR Capital Management LLC increased its holdings in Landstar System by 185.5% during the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after purchasing an additional 641,319 shares in the last quarter. Millennium Management LLC boosted its stake in Landstar System by 910.2% in the fourth quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after purchasing an additional 488,238 shares in the last quarter. Bank of Montreal Can boosted its stake in Landstar System by 5,643.4% in the fourth quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock worth $55,577,000 after purchasing an additional 380,024 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in shares of Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after purchasing an additional 370,253 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Morgan Stanley reiterated an “underweight” rating and set a $145.00 price target on shares of Landstar System in a research report on Monday, July 6th. Wall Street Zen upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Robert W. Baird dropped their target price on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. UBS Group reiterated a “neutral” rating and set a $195.00 target price on shares of Landstar System in a research report on Wednesday, July 29th. Finally, Stephens raised shares of Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Stock Performance

Landstar System stock opened at $181.80 on Friday. The company has a market cap of $6.17 billion, a PE ratio of 47.10 and a beta of 0.90. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The company’s 50-day moving average is $195.82 and its two-hundred day moving average is $181.92.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Landstar System, Inc. will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 18th. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio is presently 45.60%.

Insiders Place Their Bets

In other news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction 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 $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction 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 sale, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.74% of the company’s stock.

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.