Louisiana State Employees Retirement System Invests $1.59 Million in Landstar System, Inc. $LSTR

Key Points

• Louisiana State Employees Retirement System disclosed a new stake in Landstar System, buying 9,900 shares worth about $1.59 million in the first quarter.
• Landstar reported better-than-expected quarterly results, with EPS of $1.16 versus estimates of $1.11 and revenue of $1.17 billion slightly above forecasts.
• The company’s board authorized a stock buyback and it also paid a quarterly dividend of $0.40 per share, while analysts currently rate the stock a consensus Hold.

Louisiana State Employees Retirement System bought a new stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 9,900 shares of the transportation company's stock, valued at approximately $1,587,000.

Other institutional investors also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC bought a new stake in Landstar System during the 4th quarter valued at about $25,000. Global Retirement Partners LLC increased its position in shares of 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 acquiring an additional 144 shares during the period. Quarry LP purchased a new position in shares of Landstar System during the third quarter worth approximately $25,000. Geneos Wealth Management Inc. raised its position in Landstar System by 132.7% during 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 in the last quarter. Finally, Private Trust Co. NA lifted its holdings in shares of Landstar System by 81.0% in the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company's stock worth $40,000 after buying an additional 124 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,200 shares of the firm's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the sale, the chief financial officer owned 15,122 shares of the company's stock, valued at $3,299,166.74. This trade represents a 7.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Diana M. Murphy sold 11,246 shares of the business'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 in the company, valued at approximately $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.74% of the company's stock.

Landstar System Stock Up 0.3%

NASDAQ:LSTR opened at $207.35 on Thursday. The company's 50-day simple moving average is $198.24 and its 200-day simple moving average is $169.26. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46. The stock has a market capitalization of $7.04 billion, a P/E ratio of 57.28 and a beta of 0.88.

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

Landstar System declared that its board has initiated a stock buyback plan on Tuesday, April 28th that authorizes the company to buyback 1,115,195,000,000 outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 3.3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Landstar System Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 9th. Stockholders of record on Tuesday, May 19th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Tuesday, May 19th. Landstar System's dividend payout ratio is currently 44.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on LSTR shares. JPMorgan Chase & Co. raised their price target on Landstar System from $161.00 to $179.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Stifel Nicolaus upped their price target on shares of Landstar System from $147.00 to $175.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Morgan Stanley lifted their price objective on shares of Landstar System from $135.00 to $145.00 and gave the company an "equal weight" rating in a report on Monday, May 11th. Truist Financial boosted their price objective on shares of Landstar System from $145.00 to $190.00 and gave the stock a "hold" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings upgraded Landstar System from a "hold (c-)" rating to a "hold (c)" rating in a report on Tuesday, June 16th. Two equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company's stock. According to data from MarketBeat, Landstar System has an average rating of "Hold" and an average price target of $189.09.

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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