Walleye Capital LLC Takes Position in Landstar System, Inc. $LSTR

Walleye Capital LLC bought a new stake in Landstar System, Inc. (NASDAQ:LSTR) during the second quarter, HoldingsChannel reports. The firm bought 101,750 shares of the transportation company’s stock, valued at approximately $21,043,000.

Several other institutional investors and hedge funds have also bought and sold shares of LSTR. Los Angeles Capital Management LLC acquired a new position in Landstar System during the fourth quarter valued at approximately $25,000. Quarry LP bought a new position in Landstar System in the third quarter valued at approximately $25,000. Global Retirement Partners LLC increased 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 worth $27,000 after purchasing an additional 144 shares during the last quarter. Geneos Wealth Management Inc. increased 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 worth $37,000 after purchasing an additional 142 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its stake 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 worth $39,000 after purchasing an additional 298 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Insider Buying and Selling at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 15,122 shares of the company’s stock, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of Landstar System stock in a transaction 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 trade represents a 37.36% 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.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Barclays increased their price objective on Landstar System from $155.00 to $190.00 and gave the company an “equal weight” rating in a report on Thursday, June 25th. Stephens upgraded shares of Landstar System to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial upped their price target on shares of Landstar System from $190.00 to $205.00 and gave the stock a “hold” rating in a research report on Wednesday, July 15th. Stifel Nicolaus increased 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. Finally, UBS Group reissued a “neutral” rating and issued a $195.00 price objective on shares of Landstar System in a research report on Wednesday, July 29th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $196.00.

Landstar System Price Performance

NASDAQ:LSTR opened at $190.19 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. The stock’s 50 day moving average price is $202.08 and its two-hundred day moving average price is $179.98. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 49.27 and a beta of 0.90. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period in the previous year, the business earned $1.20 earnings per share. The business’s quarterly revenue was up 18.2% on a year-over-year basis. On average, analysts anticipate that Landstar System, Inc. will post 5.82 earnings per share for the current year.

Landstar System announced that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 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 generally a sign that the company’s board believes its stock is undervalued.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 0.9%. This is a positive change from Landstar System’s previous quarterly dividend of $0.40. Landstar System’s payout ratio is 41.45%.

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.