Continuum Advisory LLC bought a new position in Landstar System, Inc. (NASDAQ:LSTR – Free Report) during the first quarter, Holdings Channel reports. The firm bought 14,412 shares of the transportation company’s stock, valued at approximately $2,310,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LSTR. CWM LLC grew its holdings in shares of Landstar System by 196.5% in the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock valued at $884,000 after purchasing an additional 4,075 shares in the last quarter. Gotham Asset Management LLC raised its stake in Landstar System by 65.0% during the third quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company’s stock valued at $31,896,000 after purchasing an additional 102,524 shares in the last quarter. Fenimore Asset Management Inc lifted its position in Landstar System by 42.5% during the fourth quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock valued at $69,862,000 after purchasing an additional 145,035 shares during the last quarter. Burgundy Asset Management Ltd. lifted its position in Landstar System by 19.2% during the third quarter. Burgundy Asset Management Ltd. now owns 85,380 shares of the transportation company’s stock valued at $11,298,000 after purchasing an additional 13,780 shares during the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Landstar System by 673.0% in the 4th quarter. SG Americas Securities LLC now owns 21,157 shares of the transportation company’s stock worth $3,040,000 after buying an additional 18,420 shares in the last quarter. 97.95% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, CFO James P. Todd sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.74% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Analysis on LSTR
Landstar System Price Performance
Shares of LSTR opened at $209.21 on Monday. 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 current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $7.10 billion, a P/E ratio of 57.79 and a beta of 0.88. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46.
Landstar System (NASDAQ:LSTR – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. The company had revenue of $1.17 billion for 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%. The firm’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Equities research analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.
Landstar System announced that its Board of Directors has authorized a share buyback plan on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
Landstar System Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio is currently 44.20%.
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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