Landstar System (NASDAQ:LSTR) Announces Quarterly Earnings Results

Landstar System (NASDAQ:LSTR) released its earnings results on Wednesday. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.04, reports. The company had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.12 billion. Landstar System had a return on equity of 23.17% and a net margin of 4.63%.

Landstar System Trading Down 0.1 %

Shares of Landstar System stock traded down $0.14 on Friday, hitting $177.29. 15,074 shares of the company’s stock traded hands, compared to its average volume of 272,612. The company has a fifty day moving average of $184.66 and a two-hundred day moving average of $183.48. The company has a market capitalization of $6.34 billion, a price-to-earnings ratio of 27.30, a price-to-earnings-growth ratio of 4.51 and a beta of 0.83. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00. Landstar System has a one year low of $161.13 and a one year high of $208.62.

Landstar System Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be paid a $0.33 dividend. The ex-dividend date is Tuesday, May 7th. This represents a $1.32 annualized dividend and a dividend yield of 0.74%. Landstar System’s payout ratio is 20.31%.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, VP Michael K. Kneller sold 12,219 shares of the stock in a transaction that occurred on Monday, February 5th. The stock was 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 directly owns 61,127 shares of the company’s stock, valued at $11,632,468.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Landstar System

Several large investors have recently added to or reduced their stakes in LSTR. National Bank of Canada FI increased its holdings in shares of Landstar System by 612.0% in the third quarter. National Bank of Canada FI now owns 11,064 shares of the transportation company’s stock worth $1,928,000 after buying an additional 9,510 shares during the period. AE Wealth Management LLC purchased a new position in shares of Landstar System during the 3rd quarter worth approximately $223,000. SG Americas Securities LLC grew its holdings in shares of Landstar System by 10.9% during the 3rd quarter. SG Americas Securities LLC now owns 6,686 shares of the transportation company’s stock worth $1,183,000 after acquiring an additional 658 shares during the period. Impact Partnership Wealth LLC bought a new stake in shares of Landstar System in the 3rd quarter worth approximately $108,000. Finally, DAVENPORT & Co LLC boosted its position in shares of Landstar System by 1.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 9,374 shares of the transportation company’s stock worth $1,659,000 after purchasing an additional 177 shares in the last quarter. Institutional investors own 97.95% 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.