7,460 Shares in Landstar System, Inc. $LSTR Acquired by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the second quarter, Holdings Channel.com reports. The institutional investor bought 7,460 shares of the transportation company’s stock, valued at approximately $1,543,000.

Other institutional investors also recently bought and sold shares of the company. Elevation Wealth Partners LLC grew its holdings in Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after purchasing an additional 66 shares during the last quarter. First Citizens Bank & Trust Co. increased its position in shares of Landstar System by 1.5% during the first quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock worth $755,000 after purchasing an additional 68 shares in the last quarter. Petros Family Wealth LLC lifted its holdings in shares of Landstar System by 4.9% during the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after purchasing an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Landstar System by 29.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 78 shares during the last quarter. Finally, SkyView Investment Advisors LLC boosted its position in shares of Landstar System by 1.4% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after purchasing an additional 89 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR opened at $193.38 on Tuesday. The stock has a 50-day moving average of $201.44 and a two-hundred day moving average of $180.46. Landstar System, Inc. has a one year low of $119.32 and a one year 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. The stock has a market cap of $6.56 billion, a P/E ratio of 50.10 and a beta of 0.90.

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

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

Landstar System Increases Dividend

The company also recently announced 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 is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Tuesday, August 18th. Landstar System’s payout ratio is currently 41.45%.

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 shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred 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 of the company’s stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on LSTR shares. TD Cowen dropped their target price on Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a research note on Tuesday, July 28th. Robert W. Baird decreased their price target on Landstar System from $225.00 to $215.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Stifel Nicolaus raised their price target on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a report on Wednesday, July 29th. Wells Fargo & Company boosted their price target on Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, The Goldman Sachs Group upped their price objective on shares of Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $196.00.

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.