Landstar System, Inc. Plans Quarterly Dividend of $0.33 (NASDAQ:LSTR)

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 8th will be paid a dividend of 0.33 per share by the transportation company on Friday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, May 7th.

Landstar System has increased its dividend payment by an average of 16.8% annually over the last three years and has increased its dividend every year for the last 10 years. Landstar System has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $8.28 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.9%.

Landstar System Price Performance

LSTR stock opened at $177.43 on Friday. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $6.34 billion, a PE ratio of 27.30, a P/E/G ratio of 4.51 and a beta of 0.83. Landstar System has a 12-month low of $161.13 and a 12-month high of $208.62. The business’s fifty day moving average price is $184.66 and its 200 day moving average price is $183.48.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.04. The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.12 billion. Landstar System had a return on equity of 23.17% and a net margin of 4.63%. On average, sell-side analysts anticipate that Landstar System will post 6.71 EPS for the current year.

Insider Transactions at Landstar System

In other news, VP Michael K. Kneller sold 12,219 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the transaction, the vice president now directly owns 61,127 shares of the company’s stock, valued at approximately $11,632,468.10. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on LSTR shares. Wells Fargo & Company upped their price target on Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, February 2nd. Susquehanna cut their price target on Landstar System from $170.00 to $165.00 and set a “neutral” rating on the stock in a report on Monday, March 25th. Stifel Nicolaus cut their price target on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a report on Friday, February 2nd. UBS Group upped their price target on Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, Wolfe Research upgraded Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target on the stock in a report on Wednesday, January 10th. Eight equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Landstar System currently has an average rating of “Hold” and a consensus target price of $184.55.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.