Landstar System, Inc. $LSTR Shares Bought by SummitTX Capital L.P.

SummitTX Capital L.P. grew its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 29.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,838 shares of the transportation company’s stock after purchasing an additional 7,935 shares during the period. SummitTX Capital L.P. owned approximately 0.10% of Landstar System worth $5,585,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LSTR. M&T Bank Corp grew its holdings in Landstar System by 151,424.4% during the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after purchasing an additional 6,290,171 shares in the last quarter. Boston Partners increased its stake in Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after buying an additional 341,808 shares during the period. First Trust Advisors LP lifted its holdings in Landstar System by 19.1% in the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock worth $179,315,000 after buying an additional 179,294 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after buying an additional 641,319 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its position in Landstar System by 99.5% in the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock valued at $105,877,000 after buying an additional 370,253 shares during the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Trading Down 4.3%

NASDAQ LSTR opened at $191.63 on Tuesday. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 52.94 and a beta of 0.89. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46. The company’s fifty day moving average price is $208.43 and its two-hundred day moving average price is $177.57.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.05. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.95 EPS. As a group, research analysts predict that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System announced that its board has initiated a stock buyback plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LSTR shares. JPMorgan Chase & Co. raised their target price on Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Stephens upgraded Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. TD Cowen increased their price target on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. The Goldman Sachs Group increased their price target on Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a report on Thursday, July 16th. Finally, Susquehanna lifted their price objective on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and an average target price of $192.42.

Insider Transactions at Landstar System

In related news, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction dated 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

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.