Landstar System, Inc. $LSTR Shares Bought by Royce & Associates LP

Key Points

• Royce & Associates LP increased its stake in Landstar System by 23.3% in the fourth quarter, buying 53,793 more shares and bringing its total holding to 284,558 shares worth about $40.9 million.
• Landstar reported better-than-expected quarterly earnings of $1.16 per share on revenue of $1.17 billion, while revenue rose 1.6% year over year. The company also announced a share repurchase authorization covering up to 3.3% of its stock.
• The company declared a quarterly dividend of $0.40 per share, payable June 9, and analysts currently rate the stock a consensus Hold with an average price target of $179.36.

Royce & Associates LP boosted its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 23.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 284,558 shares of the transportation company's stock after buying an additional 53,793 shares during the period. Royce & Associates LP owned 0.83% of Landstar System worth $40,891,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vestmark Advisory Solutions Inc. grew its stake in shares of Landstar System by 0.4% in the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company's stock valued at $2,523,000 after purchasing an additional 78 shares during the last quarter. Huntington National Bank grew its stake in shares of Landstar System by 9.7% in the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company's stock valued at $138,000 after purchasing an additional 100 shares during the last quarter. Vident Advisory LLC grew its stake in shares of Landstar System by 4.9% in the 2nd quarter. Vident Advisory LLC now owns 2,313 shares of the transportation company's stock valued at $322,000 after purchasing an additional 107 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in shares of Landstar System by 0.7% in the 2nd quarter. Treasurer of the State of North Carolina now owns 16,188 shares of the transportation company's stock valued at $2,250,000 after purchasing an additional 112 shares during the last quarter. Finally, Legacy Wealth Asset Management LLC grew its stake in shares of Landstar System by 4.8% in the 4th quarter. Legacy Wealth Asset Management LLC now owns 2,603 shares of the transportation company's stock valued at $374,000 after purchasing an additional 119 shares during the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Price Performance

Landstar System stock opened at $194.01 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. Landstar System, Inc. has a 1-year low of $119.32 and a 1-year high of $195.84. The company has a market cap of $6.58 billion, a PE ratio of 53.59 and a beta of 0.85. The stock's 50 day moving average price is $170.39 and its 200 day moving average price is $154.05.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates of $1.11 by $0.05. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The company's revenue for the quarter was up 1.6% compared to the same quarter last year. On average, sell-side analysts predict that Landstar System, Inc. will post 5.55 EPS for the current fiscal year.

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

Landstar System Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 9th. Investors of record on Tuesday, May 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.8%. Landstar System's payout ratio is 44.20%.

Analyst Ratings Changes

Several brokerages have weighed in on LSTR. Susquehanna lifted their target price on Landstar System from $185.00 to $195.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. TD Cowen lifted their target price on Landstar System from $150.00 to $175.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. UBS Group lifted their target price on Landstar System from $147.00 to $185.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Robert W. Baird set a $193.00 target price on Landstar System in a research note on Wednesday, April 29th. Finally, Stifel Nicolaus lifted their target price on Landstar System from $147.00 to $175.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $179.36.

Landstar System Company 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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