Landstar System, Inc. (NASDAQ:LSTR – Get Free Report) CEO Frank Lonegro purchased 5,000 shares of Landstar System stock in a transaction dated Friday, October 30th. The stock was bought at an average cost of $142.92 per share, with a total value of $714,600.00. Following the completion of the transaction, the chief executive officer directly owned 28,110 shares of the company’s stock, valued at $4,017,481.20. This represents a 21.64% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Landstar System Stock Performance
Shares of LSTR opened at $151.06 on Wednesday. The company’s 50 day moving average price is $168.68 and its 200 day moving average price is $176.50. Landstar System, Inc. has a 52 week low of $121.11 and a 52 week high of $228.46. The company has a market capitalization of $5.09 billion, a PE ratio of 25.75 and a beta of 0.89. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 1.79.
Landstar System (NASDAQ:LSTR – Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The transportation company reported $1.42 earnings per share for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter in the prior year, the company posted $1.22 EPS. The firm’s quarterly revenue was up 25.4% compared to the same quarter last year. Research analysts expect that Landstar System, Inc. will post 5.75 EPS for the current fiscal year.
Landstar System Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 17th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. Landstar System’s dividend payout ratio is 37.29%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on LSTR shares. Stephens reduced their price objective on Landstar System from $215.00 to $210.00 and set an “overweight” rating for the company in a research report on Wednesday, October 28th. The Goldman Sachs Group upped their target price on Landstar System from $147.00 to $168.00 and gave the stock a “sell” rating in a research report on Thursday, July 16th. Truist Financial cut their price target on Landstar System from $175.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, October 28th. Susquehanna reduced their price target on Landstar System from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Monday. Finally, JPMorgan Chase & Co. lowered their price target on Landstar System from $181.00 to $172.00 and set a “neutral” rating for the company in a research note on Wednesday, October 28th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $182.33.
Get Our Latest Research Report on LSTR
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the business. Ethic Inc. increased its holdings in shares of Landstar System by 2.1% during the 3rd quarter. Ethic Inc. now owns 3,987 shares of the transportation company’s stock valued at $672,000 after acquiring an additional 83 shares during the last quarter. Provenance Wealth Advisors LLC bought a new position in shares of Landstar System in the 3rd quarter valued at approximately $35,000. Next Level Wealth Planning LLC acquired a new stake in Landstar System in the 3rd quarter worth approximately $121,000. Bridge City Capital LLC lifted its holdings in Landstar System by 33.3% in the 3rd quarter. Bridge City Capital LLC now owns 47,819 shares of the transportation company’s stock worth $8,064,000 after purchasing an additional 11,952 shares during the last quarter. Finally, Parcion Private Wealth LLC lifted its holdings in Landstar System by 13.4% in the 3rd quarter. Parcion Private Wealth LLC now owns 1,669 shares of the transportation company’s stock worth $281,000 after purchasing an additional 197 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.
About Landstar System
Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.
Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.
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