Redwood Investment Management LLC Takes $1.16 Million Position in Landstar System, Inc. $LSTR

Redwood Investment Management LLC acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 5,628 shares of the transportation company’s stock, valued at approximately $1,164,000.

A number of other large investors have also bought and sold shares of LSTR. Elevation Wealth Partners LLC lifted its stake in Landstar System by 41.8% in the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock valued at $46,000 after buying an additional 66 shares in 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 acquiring an additional 68 shares in the last quarter. Petros Family Wealth LLC raised its holdings in shares of Landstar System by 4.9% during the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock worth $248,000 after acquiring an additional 73 shares during the period. CIBC Private Wealth Group LLC raised its holdings in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after acquiring an additional 78 shares during the period. Finally, SkyView Investment Advisors LLC boosted its stake in 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 during the period. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Performance

Shares of LSTR stock opened at $181.63 on Thursday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 47.05 and a beta of 0.90. 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 company has a 50-day simple moving average of $196.33 and a 200 day simple moving average of $181.78. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $228.46.

Landstar System (NASDAQ:LSTR) last released 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 company had revenue of $1.43 billion during the quarter, compared to the consensus estimate 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 was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. On average, sell-side analysts predict that Landstar System, Inc. will post 5.84 earnings per share for the current year.

Landstar System Increases Dividend

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

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,200 shares of the business’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 completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Diana M. 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 transaction of $2,488,514.88. Following the completion of the sale, the director directly 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 position. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. TD Cowen decreased their price target on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a research note on Tuesday, July 28th. Stifel Nicolaus boosted their price target on Landstar System from $186.00 to $197.00 and gave the stock a “hold” rating in a research report on Wednesday, July 29th. Susquehanna raised their price objective on Landstar System from $195.00 to $230.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Zacks Research upgraded Landstar System from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 3rd. Finally, Weiss Ratings raised Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. Two research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target 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.