Landstar System (NASDAQ:LSTR) CEO Buys $714,600.00 in Stock

Landstar System, Inc. (NASDAQ:LSTR) CEO Frank Lonegro bought 5,000 shares of the stock in a transaction on Friday, October 30th. The shares were bought at an average price of $142.92 per share, for a total transaction of $714,600.00. Following the completion of the transaction, the chief executive officer directly owned 28,110 shares of the company’s stock, valued at $4,017,481.20. This trade represents a 21.64% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Landstar System Trading Up 0.1%

Shares of Landstar System stock opened at $151.25 on Thursday. Landstar System, Inc. has a 12-month low of $121.11 and a 12-month high of $228.46. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.07. The stock has a market cap of $5.10 billion, a PE ratio of 32.04 and a beta of 0.89. The company has a 50-day moving average of $168.14 and a two-hundred day moving average of $176.47.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.42 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.25). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Landstar System had a return on equity of 23.89% and a net margin of 3.03%. Landstar System’s revenue was up 25.4% compared to the same quarter last year. During the same period last year, the firm earned $1.22 EPS. On average, research analysts anticipate that Landstar System, Inc. will post 5.75 EPS for the current fiscal year.

Landstar System Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 8th. Stockholders of record on Tuesday, November 17th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 17th. Landstar System’s payout ratio is 37.29%.

Analyst Ratings Changes

LSTR has been the topic of a number of research reports. The Goldman Sachs Group increased their price objective on shares of Landstar System from $147.00 to $168.00 and gave the company a “sell” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Landstar System in a research report on Friday, September 11th. Zacks Research cut shares of Landstar System from a “strong-buy” rating to a “hold” rating in a research report on Friday, September 4th. Susquehanna reduced their price target on shares of Landstar System from $190.00 to $160.00 and set a “neutral” rating on the stock in a report on Monday. Finally, Wolfe Research raised shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $214.00 price target on the stock in a report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $182.33.

Hedge Funds Weigh In On Landstar System

Hedge funds have recently bought and sold shares of the stock. Elevation Wealth Partners LLC boosted its stake in shares of Landstar System by 41.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company’s stock worth $46,000 after purchasing an additional 66 shares during the last quarter. First Citizens Bank & Trust Co. grew its holdings in shares of Landstar System by 1.5% during the first quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company’s stock worth $755,000 after buying an additional 68 shares in the last quarter. Ethic Inc. grew its holdings in shares of Landstar System by 2.1% during the third quarter. Ethic Inc. now owns 3,987 shares of the transportation company’s stock worth $672,000 after buying an additional 83 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Landstar System by 1.3% during the first quarter. Oregon Public Employees Retirement Fund now owns 6,987 shares of the transportation company’s stock worth $1,120,000 after buying an additional 91 shares in the last quarter. Finally, State of Michigan Retirement System raised its position in shares of Landstar System by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,170 shares of the transportation company’s stock valued at $1,310,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

About Landstar System

Landstar System, Inc (NASDAQ: LSTR) is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar’s services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.