Key Points
- Director Diana Murphy sold 11,246 shares of Landstar System stock on June 5 at an average price of $221.28, totaling about $2.49 million. After the sale, she still held 18,853 shares, a 37.36% reduction in her ownership.
- Landstar reported better-than-expected quarterly results on April 28, with EPS of $1.16 versus estimates of $1.11 and revenue of $1.17 billion versus expectations of $1.16 billion. Revenue rose 1.6% from a year earlier.
- The company continues to reward shareholders with a quarterly dividend of $0.40 per share and has approved a share buyback program. Analysts currently rate the stock a consensus “Hold” with an average price target of $183.00.
Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) Director Diana Murphy sold 11,246 shares of the stock in a transaction on 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 sale, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Landstar System Price Performance
Shares of NASDAQ:LSTR opened at $225.37 on Tuesday. The business has a fifty day moving average price of $182.52 and a 200-day moving average price of $159.96. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The company has a market capitalization of $7.65 billion, a PE ratio of 62.26 and a beta of 0.88. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46.
Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.17 billion for the quarter, compared to analysts' expectations of $1.16 billion. During the same quarter in the previous year, the business posted $0.95 EPS. Landstar System's revenue was up 1.6% compared to the same quarter last year. As a group, equities analysts expect that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.
Landstar System Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Tuesday, May 19th. Landstar System's dividend payout ratio is currently 44.20%.
Landstar System announced that its board has approved a share 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 reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its stock is undervalued.
Analysts Set New Price Targets
LSTR has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an "overweight" rating in a report on Friday. Robert W. Baird set a $193.00 target price on Landstar System in a report on Wednesday, April 29th. TD Cowen boosted their price target on Landstar System from $150.00 to $175.00 and gave the stock a "hold" rating in a research note on Wednesday, April 29th. Susquehanna upped their price target on Landstar System from $185.00 to $195.00 and gave the company a "neutral" rating in a report on Wednesday, April 29th. Finally, UBS Group increased their price objective on Landstar System from $147.00 to $185.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and twelve have given a Hold rating to the company's stock. According to data from MarketBeat.com, Landstar System currently has an average rating of "Hold" and a consensus price target of $183.00.
Get Our Latest Research Report on Landstar System
Institutional Investors Weigh In On Landstar System
Several institutional investors and hedge funds have recently added to or reduced their stakes in LSTR. Los Angeles Capital Management LLC bought a new stake in Landstar System in the 4th quarter worth approximately $25,000. Global Retirement Partners LLC boosted its stake in shares of Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock worth $27,000 after buying an additional 144 shares during the last quarter. Quarry LP purchased a new position in shares of Landstar System in the 3rd quarter worth $25,000. Geneos Wealth Management Inc. grew its holdings in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after acquiring an additional 142 shares during the period. Finally, Private Trust Co. NA grew its holdings in shares of Landstar System by 81.0% in the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company's stock worth $40,000 after acquiring an additional 124 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.
Landstar System Company Profile
(
Get Free Report)
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.
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