Landstar System (NASDAQ:LSTR) Director Diana Murphy Sells 11,246 Shares of Stock

Landstar System, Inc. (NASDAQ:LSTR) Director Diana Murphy sold 11,246 shares of the business’s stock in a transaction dated 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 transaction, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Landstar System Trading Up 3.4%

NASDAQ LSTR opened at $225.37 on Tuesday. 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 1.88 and a current ratio of 1.88. The stock has a 50 day simple moving average of $182.52 and a two-hundred day simple moving average of $159.96. The stock has a market cap of $7.65 billion, a P/E ratio of 62.26 and a beta of 0.88.

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

Landstar System declared that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Landstar System Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. NewEdge Advisors LLC grew its holdings in Landstar System by 10.9% in the first quarter. NewEdge Advisors LLC now owns 2,834 shares of the transportation company’s stock worth $454,000 after purchasing an additional 278 shares during the period. Essential Partners LLC increased its stake in shares of Landstar System by 58.3% during the first quarter. Essential Partners LLC now owns 277 shares of the transportation company’s stock valued at $44,000 after purchasing an additional 102 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Landstar System by 13.4% during the first quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock valued at $40,095,000 after purchasing an additional 29,595 shares during the last quarter. Bull Harbor Capital LLC purchased a new position in shares of Landstar System during the first quarter valued at approximately $204,000. Finally, Amundi boosted its position in shares of Landstar System by 2,254.2% in the 1st quarter. Amundi now owns 79,173 shares of the transportation company’s stock worth $12,692,000 after purchasing an additional 75,810 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company lifted their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. raised their price objective on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Robert W. Baird set a $193.00 price objective on Landstar System in a research report on Wednesday, April 29th. Wall Street Zen downgraded Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. 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 research 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’s stock. According to data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus price target of $183.00.

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.