California State Teachers Retirement System Has $6.56 Million Holdings in Landstar System, Inc. $LSTR

Key Points

• CalSTRS increased its Landstar System stake by 25.9% in the first quarter, bringing its holdings to 40,944 shares valued at approximately $6.56 million. Institutional investors collectively own 97.95% of the company.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year, but earnings per share of $1.44 fell short of the $1.49 analyst consensus. Analysts maintain a consensus “Hold” rating with an average price target of $196.
• The company raised its quarterly dividend from $0.40 to $0.44 per share, equivalent to a 1.0% annualized yield, and authorized a buyback covering up to 3.3% of outstanding shares.

California State Teachers Retirement System boosted its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 25.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,944 shares of the transportation company's stock after buying an additional 8,428 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Landstar System worth $6,564,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new stake in shares of Landstar System during the 4th quarter worth $25,000. Global Retirement Partners LLC raised its holdings in Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock worth $27,000 after acquiring an additional 144 shares during the period. Quarry LP acquired a new position in Landstar System during the 3rd quarter worth $25,000. Geneos Wealth Management Inc. lifted its position 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 acquiring an additional 142 shares during the last quarter. Finally, Private Trust Co. NA boosted its holdings in Landstar System by 81.0% during the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company's stock valued at $40,000 after acquiring an additional 124 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $218.17, for a total value of $261,804.00. Following the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the company's stock in a transaction dated 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 sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.74% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LSTR has been the topic of a number of research analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $195.00 target price on shares of Landstar System in a report on Wednesday, July 29th. Wall Street Zen upgraded Landstar System from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Truist Financial increased their price objective on Landstar System from $190.00 to $205.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. Barclays raised their price objective on shares of Landstar System from $155.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Landstar System from $147.00 to $168.00 and gave the stock a "sell" rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $196.00.

Landstar System Stock Down 1.2%

Shares of LSTR opened at $179.35 on Thursday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. The company has a 50-day moving average price of $206.25 and a two-hundred day moving average price of $178.76. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 46.46 and a beta of 0.90. Landstar System, Inc. has a 12 month low of $119.32 and a 12 month high of $228.46.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. The company's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.20 earnings per share. Equities analysts predict that Landstar System, Inc. will post 5.8 EPS for the current fiscal year.

Landstar System announced that its board has approved a share buyback program on Tuesday, April 28th that allows the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization allows the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. This is an increase from Landstar System's previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, August 18th. Landstar System's dividend payout ratio is currently 41.45%.

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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