Landstar System, Inc. $LSTR Stock Holdings Cut by Clarkston Capital Partners LLC

Clarkston Capital Partners LLC reduced its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 185,865 shares of the transportation company’s stock after selling 2,310 shares during the quarter. Clarkston Capital Partners LLC owned about 0.54% of Landstar System worth $26,709,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LSTR. Quarry LP bought a new position in Landstar System during the 3rd quarter valued at $25,000. Los Angeles Capital Management LLC bought a new stake in shares of Landstar System during the 4th quarter worth $25,000. Global Retirement Partners LLC boosted its stake in shares of Landstar System by 320.0% during the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company’s stock worth $27,000 after acquiring an additional 144 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock worth $37,000 after acquiring an additional 142 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Landstar System by 1,490.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after acquiring an additional 298 shares in the last quarter. 97.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Truist Financial raised their price objective on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. UBS Group raised their price objective on Landstar System from $147.00 to $185.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Susquehanna raised their price objective on Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Wall Street Zen lowered Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, JPMorgan Chase & Co. raised their price objective on Landstar System from $161.00 to $179.00 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 assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Landstar System has an average rating of “Hold” and a consensus price target of $183.00.

Landstar System Stock Performance

Shares of Landstar System stock opened at $224.27 on Friday. The stock has a market cap of $7.61 billion, a PE ratio of 61.95 and a beta of 0.88. The business has a fifty day simple moving average of $187.65 and a 200-day simple moving average of $162.48. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46.

Landstar System (NASDAQ:LSTR) last issued its 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 business had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.Landstar System’s revenue was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. On average, sell-side analysts anticipate that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is 44.20%.

Landstar System announced that its Board of Directors has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction 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 sale, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by company insiders.

Landstar System 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.