Dimensional Fund Advisors LP Raises Holdings in Landstar System, Inc. $LSTR

Dimensional Fund Advisors LP raised its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 2.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 683,119 shares of the transportation company's stock after purchasing an additional 15,825 shares during the quarter. Dimensional Fund Advisors LP owned 2.01% of Landstar System worth $109,506,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Los Angeles Capital Management LLC acquired a new position in shares of Landstar System during the fourth quarter worth about $25,000. Quarry LP acquired a new stake in Landstar System in the third quarter valued at $25,000. Global Retirement Partners LLC raised its stake in shares of Landstar System by 320.0% in the 4th quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock valued at $27,000 after purchasing an additional 144 shares in the last quarter. Geneos Wealth Management Inc. lifted its holdings 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 last quarter. Finally, Caitong International Asset Management Co. Ltd lifted its stake in Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company's stock worth $39,000 after purchasing an additional 298 shares during the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.

Insider Activity at Landstar System

In related news, CFO James P. Todd sold 1,200 shares of the stock in a transaction that occurred 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 sale, the chief financial officer directly owned 15,122 shares in the company, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction 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 sale, the director owned 18,853 shares in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on LSTR. Evercore set a $181.00 target price on Landstar System in a research report on Wednesday, April 29th. Morgan Stanley reissued an "underweight" rating and set a $145.00 target price on shares of Landstar System in a research note on Monday, July 6th. The Goldman Sachs Group increased their price target 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. Stephens raised Landstar System to a "strong-buy" rating in a research report on Wednesday, July 8th. Finally, UBS Group increased their price target on shares of Landstar System from $147.00 to $185.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $192.67.

Landstar System Trading Down 3.3%

LSTR stock opened at $185.32 on Wednesday. The firm has a market cap of $6.29 billion, a P/E ratio of 51.19 and a beta of 0.89. The business's 50 day moving average is $208.49 and its 200-day moving average is $177.83. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $228.46. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.05.

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). The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm's revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.20 EPS. Equities analysts anticipate that Landstar System, Inc. will post 5.73 earnings per share for the current fiscal year.

Landstar System declared that its Board of Directors has authorized a share buyback program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 shares. This repurchase authorization authorizes the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's management believes its shares are undervalued.

Landstar System Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Tuesday, August 18th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 annualized dividend and a yield of 0.9%. This is an increase from Landstar System's previous quarterly dividend of $0.40. Landstar System's dividend payout ratio (DPR) is presently 44.20%.

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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