Landstar System, Inc. $LSTR Shares Purchased by Fifth Third Bancorp

Fifth Third Bancorp boosted its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 7,282.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,831 shares of the transportation company’s stock after acquiring an additional 27,454 shares during the quarter. Fifth Third Bancorp owned 0.08% of Landstar System worth $4,462,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new stake in shares of Landstar System during the fourth quarter worth about $25,000. Quarry LP acquired a new position in shares of Landstar System in the third quarter valued at approximately $25,000. Global Retirement Partners LLC increased its stake in 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 buying an additional 144 shares during the period. Geneos Wealth Management Inc. increased its stake in 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 buying an additional 142 shares during the period. Finally, Caitong International Asset Management Co. Ltd lifted its holdings in Landstar System by 1,490.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company’s stock worth $39,000 after buying an additional 298 shares in the last quarter. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Stock Performance

Shares of LSTR stock opened at $211.56 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The stock’s 50-day moving average is $204.78 and its two-hundred day moving average is $174.86. The firm has a market cap of $7.18 billion, a price-to-earnings ratio of 58.44 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last announced its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Analysts predict that Landstar System, Inc. will post 5.73 earnings per share for the current year.

Landstar System announced that its board has approved a stock buyback program on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. Landstar System’s dividend payout ratio is 44.20%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at $3,299,166.74. This trade represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Diana M. Murphy sold 11,246 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.74% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on LSTR shares. JPMorgan Chase & Co. raised their price target on shares of Landstar System from $161.00 to $179.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Susquehanna upped their price objective on Landstar System from $195.00 to $230.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Robert W. Baird increased their price objective on Landstar System from $195.00 to $225.00 and gave the company an “outperform” rating in a research note on Wednesday, June 17th. UBS Group lifted their target price on Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Finally, Stephens raised Landstar System to a “strong-buy” rating in a research note on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Landstar System presently has a consensus rating of “Hold” and an average price target of $192.42.

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.