Chicago Partners Investment Group LLC Makes New Investment in Landstar System, Inc. $LSTR

Chicago Partners Investment Group LLC bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,675 shares of the transportation company’s stock, valued at approximately $652,000.

A number of other large investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new position in Landstar System in the fourth quarter worth approximately $25,000. Global Retirement Partners LLC increased its stake in Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Quarry LP bought a new stake in Landstar System during the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. raised its holdings in Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after buying an additional 142 shares during the last quarter. Finally, Private Trust Co. NA raised its holdings in Landstar System by 81.0% during the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company’s stock worth $40,000 after buying an additional 124 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction dated 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 approximately $4,171,791.84. This trade represents a 37.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on LSTR. The Goldman Sachs Group raised their price objective on shares of Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research note on Thursday. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Wells Fargo & Company raised their price target on shares of Landstar System from $200.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday, June 5th. Morgan Stanley reiterated an “underweight” rating and set a $145.00 price target on shares of Landstar System in a research note on Monday, July 6th. Finally, Barclays boosted their price objective on Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a report on Thursday, June 25th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $192.42.

Landstar System Stock Down 0.1%

Shares of NASDAQ LSTR opened at $211.56 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a market capitalization of $7.18 billion, a PE ratio of 58.44 and a beta of 0.89. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The business’s fifty day moving average price is $204.78 and its 200-day moving average price is $174.86.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share 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 company had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Landstar System, Inc. will post 5.73 EPS for the current year.

Landstar System declared that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 shares. This buyback authorization allows the transportation company to buy up to 3.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Landstar System Dividend Announcement

The company 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 was Tuesday, May 19th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Landstar System’s dividend payout ratio is 44.20%.

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.