Boston Trust Walden Corp Sells 35,346 Shares of Landstar System, Inc. $LSTR

Boston Trust Walden Corp lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 11.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 269,134 shares of the transportation company’s stock after selling 35,346 shares during the period. Boston Trust Walden Corp owned 0.79% of Landstar System worth $43,145,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LSTR. M&T Bank Corp lifted 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 last quarter. Boston Partners increased its position in Landstar System by 24.1% during the third 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 raised its holdings in Landstar System by 185.5% during the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock valued at $141,844,000 after buying an additional 641,319 shares in the last quarter. First Trust Advisors LP lifted its position in shares of Landstar System by 31.8% in the third quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company’s stock worth $118,184,000 after buying an additional 232,682 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock worth $91,492,000 after acquiring an additional 21,163 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on LSTR shares. Morgan Stanley raised their price objective on Landstar System from $135.00 to $145.00 and gave the company an “equal weight” rating in a research note on Monday, May 11th. Evercore set a $181.00 price target on Landstar System in a report on Wednesday, April 29th. Barclays lifted their price target on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research report on Thursday, June 25th. Robert W. Baird upped their price objective on shares of Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company raised their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research note on Friday, June 5th. Two investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus price target of $189.09.

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction on 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 approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

Landstar System Trading Up 0.4%

Shares of LSTR stock opened at $208.21 on Friday. The firm has a market capitalization of $7.06 billion, a P/E ratio of 57.52 and a beta of 0.89. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The firm’s fifty day simple moving average is $198.83 and its 200 day simple moving average is $169.68. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05.

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

Landstar System Announces Dividend

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

Landstar System declared that its Board of Directors has initiated 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 reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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.