Empowered Funds LLC Invests $9.12 Million in Landstar System, Inc. $LSTR

Empowered Funds LLC purchased a new position in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 44,101 shares of the transportation company’s stock, valued at approximately $9,121,000.

Other institutional investors also recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC raised its position in Landstar System by 9.8% in the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after acquiring an additional 336 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Landstar System by 57.1% during 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 during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Landstar System by 13.3% during 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 during the period. Geneos Wealth Management Inc. increased its stake in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after purchasing an additional 142 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Landstar System by 126.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 315 shares of the transportation company’s stock worth $44,000 after purchasing an additional 176 shares during the period. Institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Shares of NASDAQ LSTR opened at $180.03 on Friday. The stock has a fifty day moving average of $195.27 and a 200-day moving average of $181.91. The stock has a market cap of $6.11 billion, a PE ratio of 46.64 and a beta of 0.90. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82.

Landstar System (NASDAQ:LSTR) last released its quarterly 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 firm had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.34 billion. During the same quarter last year, the firm earned $1.20 earnings per share. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities research analysts anticipate that Landstar System, Inc. will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

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

Insider Buying and Selling

In other news, CFO James P. Todd sold 1,200 shares of the 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 transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at $3,299,166.74. This represents a 7.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the sale, the director 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.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Janney Montgomery Scott set a $182.00 price objective on Landstar System in a research note on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Landstar System from $198.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Wall Street Zen cut Landstar System from a “buy” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company lifted their price objective on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a report on Friday, June 5th. Finally, UBS Group restated a “neutral” rating and issued a $195.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Landstar System has a consensus rating of “Hold” and a consensus target price of $196.00.

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.