Corient Private Wealth LLC Sells 2,764 Shares of Landstar System, Inc. $LSTR

Corient Private Wealth LLC lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 0.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 369,198 shares of the transportation company’s stock after selling 2,764 shares during the period. Corient Private Wealth LLC’s holdings in Landstar System were worth $53,054,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp raised its stake in shares of Landstar System by 151,424.4% in the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after purchasing an additional 6,290,171 shares during the period. Boston Partners boosted its stake in shares of Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock worth $216,242,000 after buying an additional 341,808 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Landstar System by 185.5% in the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after acquiring an additional 641,319 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of Landstar System by 31.8% in the 3rd quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock valued at $118,184,000 after acquiring an additional 232,682 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Landstar System by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after acquiring an additional 21,163 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on LSTR. Truist Financial increased their price target on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Robert W. Baird boosted their price target on Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. JPMorgan Chase & Co. upped their price objective on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. UBS Group increased their price objective on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Evercore set a $181.00 target price on shares of Landstar System in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $185.91.

Landstar System Stock Performance

Landstar System stock opened at $207.40 on Monday. The stock has a 50-day simple moving average of $192.21 and a 200 day simple moving average of $165.57. The stock has a market capitalization of $7.04 billion, a P/E ratio of 57.29 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. 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 data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. Analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend was Tuesday, May 19th. Landstar System’s payout ratio is 44.20%.

Landstar System 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.