London Co. of Virginia Sells 9,750 Shares of Landstar System, Inc. $LSTR

Key Points

• London Co. of Virginia trimmed its Landstar System position by 4.1% in the fourth quarter, selling 9,750 shares and ending with 229,155 shares valued at about $32.9 million.
• Other institutional investors have also been active in LSTR, and institutions now own 97.95% of the company’s stock, highlighting heavy institutional backing.
• Landstar reported solid quarterly results, beating EPS and revenue estimates, while analysts currently have a Hold consensus with an average price target of $183; the stock recently traded above that at $216.15.

London Co. of Virginia lowered its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 229,155 shares of the transportation company's stock after selling 9,750 shares during the quarter. London Co. of Virginia owned approximately 0.67% of Landstar System worth $32,930,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. M&T Bank Corp boosted its position in Landstar System by 151,424.4% during the 4th quarter. M&T Bank Corp now owns 6,294,325 shares of the transportation company's stock valued at $904,495,000 after acquiring an additional 6,290,171 shares in the last quarter. Boston Partners boosted its position in Landstar System by 24.1% during the 3rd quarter. Boston Partners now owns 1,761,526 shares of the transportation company's stock valued at $216,242,000 after acquiring an additional 341,808 shares in the last quarter. First Trust Advisors LP boosted its position in Landstar System by 31.8% during the 3rd quarter. First Trust Advisors LP now owns 964,297 shares of the transportation company's stock valued at $118,184,000 after acquiring an additional 232,682 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Landstar System by 2.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 746,506 shares of the transportation company's stock valued at $91,492,000 after acquiring an additional 21,163 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its position in Landstar System by 19.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 706,446 shares of the transportation company's stock valued at $101,516,000 after acquiring an additional 116,619 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Insider Transactions at Landstar System

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of Landstar System 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System 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 owned 15,122 shares of the company's stock, valued at $3,299,166.74. The trade was a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company's stock.

Landstar System Stock Performance

Shares of LSTR stock opened at $216.15 on Wednesday. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 59.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The business has a fifty day moving average of $189.82 and a 200 day moving average of $163.95. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.05. The company had revenue of $1.17 billion during the quarter, compared to analyst estimates of $1.16 billion. Landstar System had a return on equity of 19.49% and a net margin of 2.62%.The firm's quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. As a group, research analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current year.

Landstar System announced that its board has approved a share buyback plan 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 purchase up to 3.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.40 per share. The ex-dividend date was Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.7%. Landstar System's dividend payout ratio (DPR) is presently 44.20%.

Analyst Ratings Changes

Several brokerages have issued reports on LSTR. Wall Street Zen cut Landstar System from a "buy" rating to a "hold" rating in a research report on Saturday, May 30th. TD Cowen increased their target price on Landstar System from $150.00 to $175.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Wells Fargo & Company increased their target price on Landstar System from $200.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, June 5th. Susquehanna increased their target price on Landstar System from $185.00 to $195.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Finally, UBS Group increased their target price on Landstar System from $147.00 to $185.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and twelve have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $183.00.

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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