Caisse de depot et placement du Quebec Invests $5.26 Million in Landstar System, Inc. $LSTR

Key Points

• Caisse de dépôt et placement du Québec acquired 25,437 Landstar System shares worth approximately $5.26 million, while institutional investors collectively owned 97.95% of the company.
• Analyst sentiment remains mixed, with an average “Hold” rating and a consensus price target of $196; recent targets range from $145 to $240.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year, though EPS of $1.44 missed estimates. The company also raised its quarterly dividend to $0.44, implying a 1.0% annual yield.

Caisse de depot et placement du Quebec acquired a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,437 shares of the transportation company's stock, valued at approximately $5,261,000. Caisse de depot et placement du Quebec owned 0.07% of Landstar System at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. acquired a new position in Landstar System during the 2nd quarter valued at $698,683,000. Boston Partners grew its position in Landstar System by 24.1% in the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company's stock worth $216,242,000 after purchasing an additional 341,808 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Landstar System by 19.1% during the 1st quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company's stock worth $179,315,000 after purchasing an additional 179,294 shares during the period. AQR Capital Management LLC increased its holdings in shares of Landstar System by 185.5% during the 4th quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company's stock worth $141,844,000 after purchasing an additional 641,319 shares during the period. Finally, Corient Private Wealth LLC raised its position in shares of Landstar System by 99.5% during the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company's stock valued at $105,877,000 after buying an additional 370,253 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on LSTR shares. Wells Fargo & Company increased their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an "overweight" rating in a research note on Friday, June 5th. Robert W. Baird cut their price target on Landstar System from $225.00 to $215.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Wolfe Research upgraded Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 price objective for the company in a research report on Tuesday, August 4th. Zacks Research raised Landstar System from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Finally, Morgan Stanley restated an "underweight" rating and set a $145.00 price objective on shares of Landstar System in a research report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $196.00.

Landstar System Price Performance

Shares of Landstar System stock opened at $180.03 on Friday. The firm has a market cap of $6.11 billion, a P/E ratio of 46.64 and a beta of 0.90. The firm's 50-day simple moving average is $195.27 and its 200-day simple moving average is $181.91. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82.

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

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, August 18th. This is a boost from Landstar System's previous quarterly dividend of $0.40. Landstar System's payout ratio is currently 45.60%.

Insider Buying and Selling

In related news, Director Diana M. Murphy sold 11,246 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $221.28, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the business's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company's stock.

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.

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