Focus Partners Advisor Solutions LLC Acquires Shares of 3,171 Landstar System, Inc. $LSTR

Focus Partners Advisor Solutions LLC bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR) during the 2nd quarter, Holdings Channel.com reports. The fund bought 3,171 shares of the transportation company’s stock, valued at approximately $656,000.

A number of other large investors have also modified their holdings of the business. M&T Bank Corp lifted its holdings in shares of Landstar System by 151,424.4% in the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company’s stock valued at $904,495,000 after buying an additional 6,290,171 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 acquiring an additional 641,319 shares during the period. Millennium Management LLC grew its holdings in Landstar System by 910.2% during the fourth quarter. Millennium Management LLC now owns 541,880 shares of the transportation company’s stock worth $77,868,000 after acquiring an additional 488,238 shares during the period. Bank of Montreal Can raised its position in Landstar System by 5,643.4% in the fourth quarter. Bank of Montreal Can now owns 386,758 shares of the transportation company’s stock worth $55,577,000 after acquiring an additional 380,024 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in Landstar System by 99.5% in the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company’s stock worth $105,877,000 after acquiring an additional 370,253 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Shares of LSTR stock opened at $193.38 on Tuesday. The stock has a fifty day moving average price of $201.44 and a 200 day moving average price of $180.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $6.56 billion, a PE ratio of 50.10 and a beta of 0.90. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, July 28th. The transportation company reported $1.44 earnings per share for the quarter, missing the consensus estimate of $1.49 by ($0.05). Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. During the same period last year, the company posted $1.20 EPS. The firm’s revenue for the quarter was up 18.2% on a year-over-year basis. Sell-side analysts forecast that Landstar System, Inc. will post 5.84 earnings per share for the current fiscal year.

Landstar System declared that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 shares. This buyback authorization allows the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Landstar System Increases Dividend

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

Insider Transactions at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Diana M. Murphy sold 11,246 shares of the firm’s stock in a transaction dated 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 transaction, the director owned 18,853 shares of the company’s stock, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LSTR shares. JPMorgan Chase & Co. boosted their target price on shares of Landstar System from $198.00 to $204.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 29th. Zacks Research upgraded shares of Landstar System from a “hold” rating to a “strong-buy” rating in a report on Monday, August 3rd. Stifel Nicolaus raised their price objective 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. The Goldman Sachs Group raised 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. Finally, Wall Street Zen raised shares of Landstar System from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. 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 assigned a Sell rating to the stock. According to data from MarketBeat, Landstar System presently has an average rating of “Hold” and a consensus target price of $196.00.

About Landstar System

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.