Citizens Financial Group Inc. RI Invests $593,000 in Landstar System, Inc. $LSTR

Citizens Financial Group Inc. RI bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,866 shares of the transportation company’s stock, valued at approximately $593,000.

Several other institutional investors have also added to or reduced their stakes in the company. CWM LLC boosted its holdings 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 during the period. Fenimore Asset Management Inc increased its holdings in Landstar System by 42.5% during the 4th quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company’s stock valued at $69,862,000 after purchasing an additional 145,035 shares during the period. Bank of America Corp DE raised its position in Landstar System by 13.4% during the 1st quarter. Bank of America Corp DE now owns 250,112 shares of the transportation company’s stock valued at $40,095,000 after purchasing an additional 29,595 shares during the last quarter. Norges Bank bought a new position in Landstar System during the 4th quarter valued at approximately $35,280,000. Finally, Manatuck Hill Partners LLC purchased a new stake in Landstar System in the 4th quarter worth approximately $862,000. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen cut their price objective on Landstar System from $182.00 to $178.00 and set a “hold” rating on the stock in a research report on Tuesday, July 28th. Barclays raised their price target on Landstar System from $155.00 to $190.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 25th. Zacks Research upgraded shares of Landstar System from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Robert W. Baird reduced their price objective on shares of Landstar System from $225.00 to $215.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Wall Street Zen upgraded shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Landstar System presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Stock Performance

Landstar System stock opened at $185.02 on Thursday. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The stock’s 50 day simple moving average is $200.01 and its two-hundred day simple moving average is $180.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 47.93 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. During the same period in the prior year, the company posted $1.20 EPS. The firm’s revenue was up 18.2% on a year-over-year basis. As a group, analysts expect that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. Landstar System’s dividend payout ratio is currently 45.60%.

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

Insider Buying and Selling at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the sale, the director directly owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This represents a 37.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.74% of the company’s stock.

About Landstar System

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.