Landstar System, Inc. (NASDAQ:LSTR) Announces $2.00 Annual Dividend

Landstar System, Inc. (NASDAQ:LSTR) declared an annual dividend on Wednesday, December 3rd. Stockholders of record on Tuesday, January 6th will be given a dividend of 2.00 per share by the transportation company on Wednesday, January 21st. This represents a dividend yield of 142.0%. The ex-dividend date of this dividend is Tuesday, January 6th.

Landstar System has increased its dividend by an average of 0.3%annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Landstar System has a dividend payout ratio of 25.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $7.35 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 21.8%.

Landstar System Stock Up 1.3%

Shares of NASDAQ:LSTR traded up $1.77 during midday trading on Thursday, reaching $140.68. 390,559 shares of the company were exchanged, compared to its average volume of 390,771. The firm has a market cap of $4.83 billion, a PE ratio of 35.89 and a beta of 0.85. Landstar System has a fifty-two week low of $119.32 and a fifty-two week high of $190.69. The stock has a fifty day simple moving average of $127.69 and a two-hundred day simple moving average of $132.74. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter last year, the company posted $1.41 EPS. Landstar System’s revenue for the quarter was down .7% on a year-over-year basis. As a group, sell-side analysts forecast that Landstar System will post 6.1 earnings per share for the current year.

Institutional Trading of Landstar System

Several large investors have recently modified their holdings of LSTR. Swiss Life Asset Management Ltd acquired a new position in shares of Landstar System in the 3rd quarter valued at approximately $204,000. JPMorgan Chase & Co. increased its stake in Landstar System by 2.9% in the third quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company’s stock valued at $91,492,000 after acquiring an additional 21,163 shares during the last quarter. Caitong International Asset Management Co. Ltd raised its position in Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock valued at $39,000 after purchasing an additional 298 shares in the last quarter. Advisory Services Network LLC bought a new stake in Landstar System during the third quarter worth $64,000. Finally, Dark Forest Capital Management LP bought a new stake in Landstar System during the third quarter worth $989,000. 97.95% of the stock is owned by institutional investors and hedge funds.

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.