Continuum Advisory LLC Takes Position in Landstar System, Inc. $LSTR

Continuum Advisory LLC acquired a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,412 shares of the transportation company’s stock, valued at approximately $2,310,000.

Other large investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC purchased a new stake in shares of Landstar System during the 4th quarter valued at about $25,000. Quarry LP bought a new stake in shares of Landstar System in the third quarter worth approximately $25,000. Global Retirement Partners LLC raised its holdings in shares of Landstar System by 320.0% during the fourth 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 during the last quarter. Geneos Wealth Management Inc. raised 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 during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its holdings in shares of Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 298 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LSTR has been the topic of several research reports. Morgan Stanley raised their target price on shares of Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, May 11th. TD Cowen increased their price target on Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered Landstar System from a “buy” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Truist Financial upped their price objective on Landstar System from $145.00 to $190.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $189.09.

Insider Activity at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the sale, the director owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 sale, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is currently owned by company insiders.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $209.21 on Monday. The stock has a market cap of $7.10 billion, a PE ratio of 57.79 and a beta of 0.88. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The firm has a fifty day moving average price of $196.21 and a 200-day moving average price of $167.98. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88.

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

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Investors 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 (DPR) is currently 44.20%.

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

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.