Diana Murphy Sells 11,246 Shares of Landstar System (NASDAQ:LSTR) Stock

Landstar System, Inc. (NASDAQ:LSTR) Director Diana 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 completion of the transaction, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Landstar System Stock Down 0.8%

Landstar System stock opened at $223.46 on Wednesday. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The firm has a market capitalization of $7.58 billion, a price-to-earnings ratio of 61.73 and a beta of 0.88. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a 50 day simple moving average of $183.85 and a 200 day simple moving average of $160.66.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating 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 business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the business earned $0.95 EPS. Landstar System’s revenue was up 1.6% compared to the same quarter last year. On average, analysts predict that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System declared that its board has authorized a share repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Landstar System Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Tuesday, May 19th. Landstar System’s payout ratio is currently 44.20%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of LSTR. Integrated Wealth Concepts LLC boosted its holdings in Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock valued at $566,000 after purchasing an additional 336 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Landstar System by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after acquiring an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Landstar System by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock worth $21,380,000 after acquiring an additional 16,698 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Landstar System by 132.7% during the 1st 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 last quarter. 97.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on LSTR. UBS Group lifted their price objective on shares of Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Robert W. Baird set a $193.00 price target on shares of Landstar System in a report on Wednesday, April 29th. Finally, Morgan Stanley raised their price target on shares of Landstar System from $135.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, May 11th. One investment 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, the stock presently has a consensus rating of “Hold” and an average target price of $183.00.

Landstar System Company 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.