Deutsche Bank AG Takes Position in Landstar System, Inc. $LSTR

Key Points

• Deutsche Bank initiated a position in Landstar System, purchasing 30,709 shares worth approximately $6.35 million. Institutional investors collectively own 97.95% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $196.00. Ratings include two Strong Buys, three Buys, ten Holds and two Sells.
• Landstar shares opened at $179.92 after declining 3.6%; the company recently reported revenue growth of 18.2% year over year but narrowly missed quarterly EPS estimates. Its quarterly dividend increased to $0.44 per share, or $1.76 annualized.

Deutsche Bank AG bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 30,709 shares of the transportation company's stock, valued at approximately $6,351,000. Deutsche Bank AG owned approximately 0.09% of Landstar System at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC acquired a new stake in Landstar System in the 2nd quarter valued at $639,000. Trust Co. of Vermont purchased a new stake in shares of Landstar System in the second quarter worth about $41,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of Landstar System in the second quarter worth about $35,000. OneDigital Investment Advisors LLC purchased a new stake in shares of Landstar System in the second quarter worth about $1,543,000. Finally, Trivium Point Advisory LLC acquired a new stake in shares of Landstar System in the second quarter valued at about $10,219,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LSTR has been the topic of several analyst reports. Evercore set a $181.00 target price on Landstar System in a report on Wednesday, April 29th. The Goldman Sachs Group increased their price objective on shares of Landstar System from $147.00 to $168.00 and gave the company a "sell" rating in a research report on Thursday, July 16th. Weiss Ratings raised shares of Landstar System from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, June 16th. Stephens upgraded shares of Landstar System to a "strong-buy" rating in a research note on Wednesday, July 8th. Finally, Wall Street Zen raised shares of Landstar System from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Two research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, Landstar System has a consensus rating of "Hold" and a consensus price target of $196.00.

Insiders Place Their Bets

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction on Friday, June 5th. The shares were 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the transaction, the chief financial officer owned 15,122 shares in the company, valued at approximately $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.74% of the company's stock.

Landstar System Trading Down 3.6%

Shares of NASDAQ LSTR opened at $179.92 on Tuesday. 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 stock's 50 day moving average price is $197.62 and its two-hundred day moving average price is $181.52. Landstar System, Inc. has a 52-week low of $119.32 and a 52-week high of $228.46. The stock has a market capitalization of $6.11 billion, a P/E ratio of 46.61 and a beta of 0.90.

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

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.0%. This is a boost from Landstar System's previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, August 18th. Landstar System's dividend payout ratio (DPR) is 45.60%.

Landstar System announced that its board has authorized a stock repurchase 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 buy up to 3.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its shares are undervalued.

Landstar System 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.

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