Landstar System, Inc. (NASDAQ:LSTR – Get Free Report) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $196.88 and last traded at $195.49, with a volume of 5831 shares. The stock had previously closed at $191.11.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on LSTR. Susquehanna upped their price target on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. TD Cowen upped their price target on Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Stifel Nicolaus upped their price target on Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley upped their price target on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $179.36.
Read Our Latest Analysis on LSTR
Landstar System Stock Performance
Landstar System (NASDAQ:LSTR – Get Free Report) last posted its quarterly earnings data 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. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, research analysts predict that Landstar System, Inc. will post 5.55 EPS for the current year.
Landstar System Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Tuesday, May 19th. Landstar System’s payout ratio is currently 44.20%.
Landstar System declared that its board has authorized a stock repurchase program on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 shares. This buyback authorization allows the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
Hedge Funds Weigh In On Landstar System
Several large investors have recently made changes to their positions in 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 valued at $566,000 after acquiring an additional 336 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock valued at $20,729,000 after acquiring an additional 50,142 shares in the last quarter. Empowered Funds LLC raised its holdings in Landstar System by 38.3% in the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after acquiring an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Landstar System by 13.3% in the 1st 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 acquiring an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after acquiring an additional 142 shares in the last quarter. Institutional investors and hedge funds own 97.95% 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.
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