Landstar System, Inc. (NASDAQ:LSTR – Get Free Report) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $224.85 and last traded at $222.93, with a volume of 84387 shares. The stock had previously closed at $219.55.
Wall Street Analyst Weigh In
Several equities analysts have issued reports on the stock. TD Cowen lifted their price target on shares of Landstar System from $150.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Truist Financial lifted their price objective on shares of Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Stifel Nicolaus lifted their price objective on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Finally, UBS Group lifted their price objective on shares of Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average target price of $183.00.
View Our Latest Report on LSTR
Landstar System Stock Up 0.7%
Landstar System (NASDAQ:LSTR – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 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 business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that Landstar System, Inc. will post 5.55 earnings per share for the current fiscal year.
Landstar System Dividend Announcement
The firm also recently announced 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. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Landstar System’s payout ratio is currently 44.20%.
Landstar System declared that its board has initiated a share repurchase 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 repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its stock is undervalued.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Citizens Bank & Trust Co. boosted its stake in shares of Landstar System by 1.5% during the first quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after purchasing an additional 68 shares in the last quarter. Petros Family Wealth LLC boosted its stake in shares of Landstar System by 4.9% during the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock valued at $248,000 after purchasing an additional 73 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its stake in shares of Landstar System by 0.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock valued at $2,523,000 after purchasing an additional 78 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in shares of Landstar System by 29.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 78 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its stake in shares of Landstar System by 1.4% during the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after purchasing an additional 89 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.
Landstar System Company 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.
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