Landstar System, Inc. (NASDAQ:LSTR) VP Michael K. Kneller sold 10,000 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $99.00, for a total transaction of $990,000.00. Following the transaction, the vice president now owns 22,153 shares in the company, valued at $2,193,147. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results on Wednesday, October 25th. The transportation company reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.05. The business had revenue of $943.40 million during the quarter, compared to analyst estimates of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The business’s revenue was up 19.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Tuesday, November 14th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, November 13th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.41%. Landstar System’s dividend payout ratio (DPR) is presently 11.08%.

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Several research firms have weighed in on LSTR. Stifel Nicolaus upgraded shares of Landstar System from a “hold” rating to a “buy” rating and boosted their target price for the company from $87.00 to $95.00 in a report on Monday, July 31st. BidaskClub lowered shares of Landstar System from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Zacks Investment Research upgraded shares of Landstar System from a “hold” rating to a “buy” rating and set a $98.00 price objective on the stock in a report on Thursday, July 6th. Buckingham Research started coverage on shares of Landstar System in a report on Friday, October 20th. They issued a “neutral” rating and a $103.00 price objective on the stock. Finally, Credit Suisse Group restated a “neutral” rating and issued a $97.00 price objective (up from $84.00) on shares of Landstar System in a report on Tuesday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $96.67.

Several large investors have recently modified their holdings of LSTR. OppenheimerFunds Inc. increased its stake in shares of Landstar System by 23.0% in the first quarter. OppenheimerFunds Inc. now owns 9,249 shares of the transportation company’s stock worth $792,000 after buying an additional 1,728 shares during the last quarter. Teachers Advisors LLC increased its stake in shares of Landstar System by 2.5% in the first quarter. Teachers Advisors LLC now owns 40,535 shares of the transportation company’s stock worth $3,472,000 after buying an additional 983 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Landstar System by 59.6% in the first quarter. Legal & General Group Plc now owns 40,622 shares of the transportation company’s stock worth $3,479,000 after buying an additional 15,166 shares during the last quarter. Thrivent Financial For Lutherans increased its stake in shares of Landstar System by 9.5% in the first quarter. Thrivent Financial For Lutherans now owns 7,850 shares of the transportation company’s stock worth $672,000 after buying an additional 680 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Landstar System by 4.0% in the first quarter. Vanguard Group Inc. now owns 3,382,917 shares of the transportation company’s stock worth $289,747,000 after buying an additional 130,461 shares during the last quarter. Institutional investors and hedge funds own 97.36% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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