GSA Capital Partners LLP Invests $1.96 Million in Landstar System, Inc. $LSTR

GSA Capital Partners LLP bought a new position in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 9,481 shares of the transportation company’s stock, valued at approximately $1,961,000.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Robert W. Baird reduced their price target 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. Stifel Nicolaus upped their price target on shares of Landstar System from $186.00 to $197.00 and gave the company a “hold” rating in a research note on Wednesday, July 29th. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price objective for the company in a research report on Tuesday, August 4th. UBS Group reissued a “neutral” rating and issued a $195.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. Finally, Stephens upgraded shares of Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Two equities research 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 given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $196.00.

Insider Activity

In other news, Director Diana M. Murphy sold 11,246 shares of the firm’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 completion of the sale, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James P. Todd sold 1,200 shares of Landstar System 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 transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by company insiders.

Landstar System Stock Performance

NASDAQ LSTR opened at $190.19 on Monday. The company has a market cap of $6.46 billion, a P/E ratio of 49.27 and a beta of 0.90. 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 business’s 50 day moving average price is $202.08 and its 200-day moving average price is $180.17. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46.

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

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be paid a $0.44 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, August 18th. Landstar System’s payout ratio is currently 41.45%.

Landstar System declared that its Board of Directors has initiated a stock buyback plan on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 shares. This buyback authorization allows the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.