Landstar System, Inc. $LSTR Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC raised its position in Landstar System, Inc. (NASDAQ:LSTR) by 992.2% in the first quarter, Holdings Channel reports. The fund owned 231,069 shares of the transportation company’s stock after buying an additional 209,912 shares during the period. SG Americas Securities LLC’s holdings in Landstar System were worth $37,043,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of LSTR. CWM LLC grew its stake in shares of Landstar System by 196.5% during the fourth quarter. CWM LLC now owns 6,149 shares of the transportation company’s stock worth $884,000 after purchasing an additional 4,075 shares in the last quarter. Gotham Asset Management LLC increased its holdings in Landstar System by 65.0% in the third quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company’s stock valued at $31,896,000 after buying an additional 102,524 shares during the last quarter. Fenimore Asset Management Inc raised its stake in Landstar System by 42.5% in the fourth quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock valued at $69,862,000 after buying an additional 145,035 shares in the last quarter. Citigroup Inc. raised its stake in Landstar System by 112.0% in the third quarter. Citigroup Inc. now owns 112,870 shares of the transportation company’s stock valued at $13,833,000 after buying an additional 59,626 shares in the last quarter. Finally, Burgundy Asset Management Ltd. lifted its holdings in Landstar System by 19.2% during the 3rd quarter. Burgundy Asset Management Ltd. now owns 85,380 shares of the transportation company’s stock worth $11,298,000 after buying an additional 13,780 shares during the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director directly 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

LSTR has been the subject of several analyst reports. Robert W. Baird upped their price objective on Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Morgan Stanley boosted their target price on Landstar System from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, May 11th. Evercore set a $181.00 price target on Landstar System in a report on Wednesday, April 29th. Stifel Nicolaus increased their price target on shares of Landstar System from $147.00 to $175.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Susquehanna raised their price objective on shares of Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat, Landstar System has an average rating of “Hold” and an average target price of $185.91.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $207.50 on Wednesday. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 57.32 and a beta of 0.88. The company has a 50-day simple moving average of $193.75 and a 200-day simple moving average of $166.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The business’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. On average, analysts predict that Landstar System, Inc. will post 5.57 EPS for the current year.

Landstar System declared that its Board of Directors has approved a share buyback program on Tuesday, April 28th that permits the company to buyback 1,115,195,000,000 shares. This buyback authorization permits the transportation company to buy up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Landstar System Dividend Announcement

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 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System’s dividend payout ratio (DPR) is 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.