Impact Partnership Wealth LLC Purchases New Holdings in Landstar System, Inc. $LSTR

Impact Partnership Wealth LLC acquired a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,064 shares of the transportation company’s stock, valued at approximately $652,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of LSTR. Integrated Wealth Concepts LLC raised 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 worth $566,000 after acquiring an additional 336 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after purchasing an additional 50,142 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock worth $704,000 after purchasing 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 first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after purchasing an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Landstar System Stock Up 0.3%

LSTR stock opened at $207.35 on Thursday. The company has a market cap of $7.04 billion, a price-to-earnings ratio of 57.28 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. The business’s 50-day moving average is $198.24 and its two-hundred day moving average is $169.26. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.95 EPS. As a group, analysts forecast that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System announced that its board has approved a share repurchase program 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 programs are often an indication that the company’s management believes its shares are undervalued.

Landstar System Dividend Announcement

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

Insiders Place Their Bets

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction dated 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 owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total value 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. This trade represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. TD Cowen lifted their price objective on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Robert W. Baird upped their target price on shares of Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. Weiss Ratings raised shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, June 16th. UBS Group boosted their price objective on shares of Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Susquehanna increased their price objective on shares of Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and twelve have issued 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 price target of $189.09.

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.