Landstar System, Inc. (NASDAQ:LSTR) Plans $0.33 Quarterly Dividend

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Wednesday, May 8th will be given a dividend of 0.33 per share by the transportation company on Friday, May 24th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. The ex-dividend date of this dividend is Tuesday, May 7th.

Landstar System has increased its dividend by an average of 16.8% per year over the last three years and has increased its dividend every year for the last 10 years. Landstar System has a dividend payout ratio of 16.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $8.28 per share next year, which means the company should continue to be able to cover its $1.32 annual dividend with an expected future payout ratio of 15.9%.

Landstar System Trading Up 3.7 %

Shares of NASDAQ:LSTR opened at $177.43 on Friday. The stock has a market capitalization of $6.34 billion, a PE ratio of 27.30, a P/E/G ratio of 4.51 and a beta of 0.83. Landstar System has a 1 year low of $161.13 and a 1 year high of $208.62. The firm has a fifty day moving average price of $184.66 and a 200 day moving average price of $183.48. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.04.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, April 24th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.04. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. Analysts expect that Landstar System will post 6.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LSTR shares. Stifel Nicolaus decreased their price target on shares of Landstar System from $171.00 to $166.00 and set a “hold” rating for the company in a report on Friday, February 2nd. Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 price target for the company in a report on Wednesday, January 10th. UBS Group upped their price target on shares of Landstar System from $175.00 to $200.00 and gave the company a “neutral” rating in a report on Friday, February 2nd. Susquehanna decreased their price target on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a report on Monday, March 25th. Finally, Wells Fargo & Company upped their price objective on shares of Landstar System from $165.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, February 2nd. Eight investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $184.55.

Insider Buying and Selling

In other news, VP Michael K. Kneller sold 12,219 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $190.30, for a total transaction of $2,325,275.70. Following the completion of the sale, the vice president now owns 61,127 shares of the company’s stock, valued at $11,632,468.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.