Reinhart Partners LLC. Boosts Position in Landstar System, Inc. $LSTR

Key Points

• Reinhart Partners LLC increased its Landstar System stake by 13.7% in the fourth quarter, adding 79,785 shares to bring its total to 661,078 shares, worth about $95.0 million.
• Landstar System reported better-than-expected Q1 results, with EPS of $1.16 versus $1.11 expected and revenue of $1.17 billion, up 1.6% year over year.
• The company also announced a quarterly dividend of $0.40 per share and a new share repurchase program authorizing buybacks of up to 3.3% of outstanding shares.

Reinhart Partners LLC. grew its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 661,078 shares of the transportation company's stock after purchasing an additional 79,785 shares during the period. Landstar System makes up approximately 2.8% of Reinhart Partners LLC.'s portfolio, making the stock its 14th biggest holding. Reinhart Partners LLC. owned about 1.92% of Landstar System worth $94,999,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Quarry LP acquired a new position in shares of Landstar System in the third quarter valued at approximately $25,000. Global Retirement Partners LLC boosted its stake in shares of Landstar System by 320.0% in the fourth quarter. Global Retirement Partners LLC now owns 189 shares of the transportation company's stock valued at $27,000 after buying an additional 144 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of Landstar System by 335.8% in the third quarter. UMB Bank n.a. now owns 292 shares of the transportation company's stock valued at $36,000 after buying an additional 225 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Landstar System by 132.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock valued at $37,000 after buying an additional 142 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of Landstar System by 1,490.0% in the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company's stock valued at $39,000 after buying an additional 298 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Evercore set a $181.00 price objective on Landstar System in a research report on Wednesday, April 29th. Morgan Stanley lifted their price objective on Landstar System from $135.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Monday, May 11th. Truist Financial lifted their price objective on Landstar System from $145.00 to $190.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. TD Cowen lifted their price objective on Landstar System from $150.00 to $175.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Finally, UBS Group lifted their price objective on Landstar System from $147.00 to $185.00 and gave the stock a "neutral" rating in a research report 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 MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $179.36.

Landstar System Stock Performance

Landstar System stock opened at $212.94 on Wednesday. The firm has a market capitalization of $7.23 billion, a P/E ratio of 58.82 and a beta of 0.88. The stock has a fifty day moving average price of $176.08 and a 200 day moving average price of $156.73. Landstar System, Inc. has a 52 week low of $119.32 and a 52 week high of $215.14. 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 posted its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.05. The business 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 company's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Equities research analysts anticipate that Landstar System, Inc. will post 5.55 earnings per share for the current year.

Landstar System Announces Dividend

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 issued a $0.40 dividend. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.8%. Landstar System's dividend payout ratio is currently 44.20%.

Landstar System announced that its Board of Directors has initiated a stock repurchase program on Tuesday, April 28th that authorizes the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

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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