Royal Bank of Canada Has $20.66 Million Stake in Landstar System, Inc. $LSTR

Royal Bank of Canada trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR) by 3.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 128,868 shares of the transportation company’s stock after selling 4,175 shares during the period. Royal Bank of Canada’s holdings in Landstar System were worth $20,657,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of LSTR. First Citizens Bank & Trust Co. boosted its stake in shares of Landstar System by 1.5% in the 1st quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock valued at $755,000 after purchasing an additional 68 shares in the last quarter. Petros Family Wealth LLC increased its position in shares of Landstar System by 4.9% during the 1st quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company’s stock worth $248,000 after purchasing an additional 73 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of Landstar System by 29.5% during the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after purchasing an additional 78 shares in the last quarter. SkyView Investment Advisors LLC increased its position in shares of Landstar System by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock worth $918,000 after purchasing an additional 89 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in Landstar System by 1.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock valued at $1,120,000 after purchasing an additional 91 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

LSTR has been the topic of a number of recent analyst reports. Janney Montgomery Scott set a $182.00 price target on shares of Landstar System in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of Landstar System from $198.00 to $204.00 and gave the company a “neutral” rating in a research note on Wednesday, July 29th. Susquehanna boosted their target price on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings upgraded Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Finally, Stephens raised Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Landstar System currently has an average rating of “Hold” and an average target price of $196.00.

Landstar System Stock Down 1.2%

Shares of NASDAQ LSTR opened at $179.35 on Thursday. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The firm’s 50-day moving average is $206.25 and its 200-day moving average is $178.76. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $6.09 billion, a PE ratio of 46.46 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. During the same period last year, the firm earned $1.20 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Landstar System, Inc. will post 5.8 EPS for the current year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, August 18th. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio is presently 41.45%.

Landstar System announced that its Board of Directors has authorized a share repurchase plan on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to purchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company’s stock.

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.