2,483 Shares in Landstar System, Inc. $LSTR Purchased by HB Wealth Management LLC

HB Wealth Management LLC purchased a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 2,483 shares of the transportation company’s stock, valued at approximately $398,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&T Bank Corp lifted its holdings in shares of Landstar System by 151,424.4% in the fourth 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 in the last quarter. Boston Partners raised its position in Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after buying an additional 341,808 shares during the last quarter. AQR Capital Management LLC lifted its stake in Landstar System by 185.5% during 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. JPMorgan Chase & Co. lifted its stake in Landstar System by 2.9% during the 3rd 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 in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Landstar System by 99.5% during the 4th quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after acquiring an additional 370,253 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Stock Performance

Shares of NASDAQ:LSTR traded up $1.62 during mid-day trading on Friday, reaching $209.32. The company had a trading volume of 308,189 shares, compared to its average volume of 412,272. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. 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 company’s 50-day moving average price is $201.89 and its 200-day moving average price is $172.07. The firm has a market cap of $7.10 billion, a price-to-earnings ratio of 57.82 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS 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 company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the prior year, the company posted $0.95 EPS. Landstar System’s revenue was up 1.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Landstar System, Inc. will post 5.66 EPS for the current fiscal year.

Landstar System Announces Dividend

The company also recently declared 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. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Landstar System declared that its board has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

LSTR has been the topic of a number of recent analyst reports. Barclays raised 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. Wells Fargo & Company lifted their target price on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Susquehanna upped their target price on Landstar System from $185.00 to $195.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. 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. Finally, Morgan Stanley reissued an “underweight” rating and issued a $145.00 price objective on shares of Landstar System in a research report on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Landstar System presently has an average rating of “Hold” and an average price target of $189.09.

Insider Transactions at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the business’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 completion of the sale, the director directly owned 18,853 shares of the company’s stock, 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 SEC, which is available at the SEC website. Also, CFO James P. Todd sold 1,200 shares of the company’s 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 sale, the chief financial officer owned 15,122 shares of the company’s stock, valued at approximately $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. Company insiders own 0.74% of the company’s stock.

About Landstar System

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.