Landstar System, Inc. $LSTR Shares Acquired by Legato Capital Management LLC

Legato Capital Management LLC lifted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 48.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,725 shares of the transportation company’s stock after acquiring an additional 3,156 shares during the period. Legato Capital Management LLC’s holdings in Landstar System were worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP acquired a new stake in shares of Landstar System during the 3rd quarter worth approximately $25,000. Global Retirement Partners LLC grew its stake 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 period. UMB Bank n.a. grew its stake in shares of Landstar System by 335.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company’s stock worth $36,000 after purchasing an additional 225 shares during the period. Geneos Wealth Management Inc. grew its stake 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 period. Finally, Caitong International Asset Management Co. Ltd grew its stake in Landstar System by 1,490.0% in 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 period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Performance

Shares of LSTR stock opened at $194.01 on Monday. The stock’s fifty day moving average is $169.40 and its two-hundred day moving average is $153.58. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $6.58 billion, a P/E ratio of 53.59 and a beta of 0.85. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $195.84.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.05. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.95 EPS. Research analysts expect that Landstar System, Inc. will post 5.55 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be issued a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Landstar System’s dividend payout ratio (DPR) is presently 44.20%.

Landstar System declared that its Board of Directors has authorized a share repurchase plan on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on LSTR. Wells Fargo & Company lifted their price target on shares of Landstar System from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, April 29th. Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. Robert W. Baird set a $193.00 price target on shares of Landstar System in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Landstar System from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat, Landstar System currently has an average rating of “Hold” and an average target price of $179.36.

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.