Clarkston Capital Partners LLC Has $17.19 Million Stake in Landstar System, Inc. $LSTR

Clarkston Capital Partners LLC lowered its position in Landstar System, Inc. (NASDAQ:LSTR) by 42.3% in the first quarter, HoldingsChannel.com reports. The fund owned 107,210 shares of the transportation company’s stock after selling 78,655 shares during the quarter. Landstar System accounts for approximately 1.3% of Clarkston Capital Partners LLC’s portfolio, making the stock its 29th biggest holding. Clarkston Capital Partners LLC’s holdings in Landstar System were worth $17,187,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 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 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 grew its holdings in Landstar System by 19.1% during 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 during the period. AQR Capital Management LLC grew its holdings in Landstar System by 185.5% during 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 during the period. Finally, Corient Private Wealth LLC increased its position in Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after buying an additional 370,253 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stephens upgraded Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. Truist Financial boosted their target price on Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a report on Wednesday, July 15th. Barclays increased their price target on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a research note on Thursday, June 25th. Weiss Ratings raised shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, June 16th. Finally, TD Cowen upped their price objective on shares of Landstar System from $150.00 to $175.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $192.42.

Insider Transactions at Landstar System

In other news, 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 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 trade represents a 7.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the sale, the director owned 18,853 shares of the company’s stock, valued at approximately $4,171,791.84. The trade was a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company’s stock.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $207.97 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 cap of $7.06 billion, a price-to-earnings ratio of 57.45 and a beta of 0.89. The stock’s fifty day moving average price is $207.69 and its two-hundred day moving average price is $176.92. Landstar System, Inc. has a one year low of $119.32 and a one year high of $228.46.

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

Landstar System Dividend Announcement

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

Landstar System announced that its board has authorized a share repurchase plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

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.