Vise Technologies Inc. Makes New $1.41 Million Investment in Landstar System, Inc. $LSTR

Vise Technologies Inc. purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,805 shares of the transportation company’s stock, valued at approximately $1,407,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Landstar System by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after buying an additional 336 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company’s stock worth $20,729,000 after purchasing an additional 50,142 shares in the last quarter. Empowered Funds LLC raised its position in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company’s stock valued at $704,000 after purchasing an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Landstar System by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company’s stock valued at $21,380,000 after purchasing an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Landstar System by 132.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 142 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction that occurred 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 transaction, the director directly owned 18,853 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LSTR. TD Cowen dropped their price objective on shares of Landstar System from $182.00 to $178.00 and set a “hold” rating for the company in a report on Tuesday, July 28th. Truist Financial upped their price target on shares of Landstar System from $190.00 to $205.00 and gave the company a “hold” rating in a research report on Wednesday, July 15th. UBS Group reaffirmed a “neutral” rating and set a $195.00 price target on shares of Landstar System in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, June 5th. Finally, Morgan Stanley restated an “underweight” rating and issued a $145.00 price objective on shares of Landstar System in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $196.00.

Landstar System Stock Performance

NASDAQ:LSTR opened at $186.58 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46. The company has a fifty day moving average of $198.40 and a 200-day moving average of $181.21. The firm has a market capitalization of $6.33 billion, a P/E ratio of 48.34 and a beta of 0.90.

Landstar System (NASDAQ:LSTR) last issued 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). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The firm’s revenue was up 18.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. As a group, sell-side analysts anticipate that Landstar System, Inc. will post 5.84 EPS for the current year.

Landstar System declared that its board has authorized a share repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. This is a boost from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s dividend payout ratio (DPR) is 45.60%.

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.