London Co. of Virginia Has $35.67 Million Position in Landstar System, Inc. $LSTR

London Co. of Virginia lessened its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,509 shares of the transportation company’s stock after selling 6,646 shares during the quarter. London Co. of Virginia owned approximately 0.66% of Landstar System worth $35,671,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. M&T Bank Corp increased its stake in shares of Landstar System by 151,424.4% during the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock worth $904,495,000 after purchasing an additional 6,290,171 shares during the last quarter. Boston Partners lifted its stake in shares of Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company’s stock valued at $216,242,000 after purchasing an additional 341,808 shares during the last quarter. First Trust Advisors LP boosted its holdings in Landstar System by 19.1% in the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company’s stock worth $179,315,000 after purchasing an additional 179,294 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Landstar System by 185.5% in the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company’s stock worth $141,844,000 after purchasing an additional 641,319 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in Landstar System by 99.5% in the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after purchasing an additional 370,253 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

NASDAQ LSTR opened at $200.28 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The firm has a market capitalization of $6.80 billion, a price-to-earnings ratio of 55.33 and a beta of 0.89. The company’s fifty day moving average is $208.18 and its two-hundred day moving average is $177.08. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $228.46.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The business had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. During the same quarter in the prior year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. Equities research analysts forecast that Landstar System, Inc. will post 5.73 EPS for the current year.

Landstar System Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.8%. Landstar System’s payout ratio is currently 44.20%.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Morgan Stanley reissued an “underweight” rating and issued a $145.00 price target on shares of Landstar System in a research report on Monday, July 6th. Robert W. Baird lifted their target price on shares of Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Evercore set a $181.00 target price on shares of Landstar System in a research report on Wednesday, April 29th. Wells Fargo & Company boosted their target price on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Finally, Barclays upped their price target on shares of Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $192.42.

Insider Buying and Selling at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the company’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 sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO James P. Todd sold 1,200 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by insiders.

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.