Callan Family Office LLC Makes New $7.37 Million Investment in Landstar System, Inc. $LSTR

Callan Family Office LLC bought a new position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm bought 35,637 shares of the transportation company's stock, valued at approximately $7,370,000. Callan Family Office LLC owned about 0.10% of Landstar System as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Los Angeles Capital Management LLC purchased a new stake in shares of Landstar System in the fourth quarter valued at about $25,000. Quarry LP purchased a new position in Landstar System during the third quarter worth about $25,000. Global Retirement Partners LLC raised its stake in Landstar System by 320.0% during the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock worth $27,000 after purchasing an additional 144 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Landstar System during the second quarter worth about $35,000. Finally, Geneos Wealth Management Inc. boosted its holdings in Landstar System by 132.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock valued at $37,000 after purchasing an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. UBS Group reissued a "neutral" rating and issued a $195.00 price target on shares of Landstar System in a research note on Wednesday, July 29th. Truist Financial lifted their price target on shares of Landstar System from $190.00 to $205.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. Janney Montgomery Scott set a $182.00 price objective on Landstar System in a report on Wednesday, July 29th. Susquehanna increased 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. Finally, Barclays raised their target price on Landstar System from $155.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Landstar System has an average rating of "Hold" and a consensus price target of $196.00.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,200 shares of the company's stock in a transaction on 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 directly owned 15,122 shares in the company, valued at $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Diana M. Murphy sold 11,246 shares of the firm's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the transaction, the director owned 18,853 shares of the company's stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.74% of the stock is owned by corporate insiders.

Landstar System Price Performance

Shares of LSTR opened at $186.58 on Friday. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The stock has a market cap of $6.33 billion, a PE ratio of 48.34 and a beta of 0.90. The firm has a 50-day simple moving average of $198.40 and a two-hundred day simple moving average of $181.21. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.82 and a quick ratio of 1.82.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 EPS 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 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 was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.20 earnings per share. As a group, analysts forecast that Landstar System, Inc. will post 5.84 EPS for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be given a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This is a positive change from Landstar System's previous quarterly dividend of $0.40. This represents a $1.76 dividend on an annualized basis and a yield of 0.9%. Landstar System's dividend payout ratio is presently 45.60%.

Landstar System announced that its Board of Directors has initiated 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 usually a sign that the company's board of directors believes its shares are undervalued.

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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