Key Points
- CEO Frank Lonegro purchased 5,000 Landstar shares at an average price of $142.92, investing $714,600 and increasing his ownership by 21.64% to 28,110 shares.
- Landstar’s latest quarterly results showed 25.4% year-over-year revenue growth to $1.51 billion, though earnings per share of $1.42 missed analysts’ $1.67 consensus estimate.
- Analyst sentiment remains cautious, with a consensus “Hold” rating and an average price target of $182.33; the company also announced a quarterly dividend of $0.44 per share.
Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) CEO Frank Lonegro bought 5,000 shares of the firm's stock in a transaction dated Friday, October 30th. The shares were acquired at an average cost of $142.92 per share, with a total value of $714,600.00. Following the completion of the transaction, the chief executive officer owned 28,110 shares in the company, valued at approximately $4,017,481.20. The trade was a 21.64% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Landstar System Trading Up 3.4%
NASDAQ LSTR opened at $147.53 on Tuesday. The business's fifty day moving average is $169.26 and its 200-day moving average is $176.51. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.79 and a quick ratio of 1.82. The stock has a market capitalization of $5.01 billion, a price-to-earnings ratio of 24.22 and a beta of 0.90. Landstar System, Inc. has a one year low of $121.11 and a one year high of $228.46.
Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. During the same quarter in the previous year, the company posted $1.22 EPS. Landstar System's quarterly revenue was up 25.4% compared to the same quarter last year. Equities research analysts predict that Landstar System, Inc. will post 5.75 EPS for the current year.
Landstar System Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Shareholders of record on Tuesday, November 17th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Tuesday, November 17th. Landstar System's payout ratio is presently 37.29%.
Wall Street Analyst Weigh In
Several equities research analysts have recently issued reports on the stock. Truist Financial decreased their price target on shares of Landstar System from $175.00 to $160.00 and set a "hold" rating for the company in a research note on Wednesday, October 28th. Evercore set a $182.00 price objective on Landstar System in a research note on Wednesday, October 28th. JPMorgan Chase & Co. reduced their price objective on Landstar System from $181.00 to $172.00 and set a "neutral" rating for the company in a report on Wednesday, October 28th. UBS Group reduced their price objective on Landstar System from $195.00 to $185.00 and set a "neutral" rating for the company in a report on Wednesday, October 28th. Finally, TD Cowen decreased their target price on Landstar System from $182.00 to $178.00 and set a "hold" rating for the company in a research report on Tuesday, July 28th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $182.33.
View Our Latest Stock Report on Landstar System
Institutional Investors Weigh In On Landstar System
Institutional investors have recently added to or reduced their stakes in the business. Walleye Capital LLC purchased a new position in shares of Landstar System in the second quarter worth about $21,043,000. Bank of America Corp DE lifted its stake in shares of Landstar System by 13.4% during the 1st quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company's stock valued at $40,095,000 after buying an additional 29,595 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Landstar System during the 2nd quarter valued at approximately $6,064,000. Engineers Gate Manager LP purchased a new stake in shares of Landstar System during the 2nd quarter valued at approximately $1,485,000. Finally, The Manufacturers Life Insurance Company bought a new position in Landstar System in the 2nd quarter worth approximately $4,854,000. 97.95% of the stock is owned by hedge funds and other institutional investors.
Landstar System Company Profile
(
Get Free Report)
Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.
Landstar's services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.
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