Sanctuary Advisors LLC Purchases New Position in Landstar System, Inc. $LSTR

Key Points

• Sanctuary Advisors initiated a 6,827-share position in Landstar System during the second quarter, valued at approximately $1.4 million. Institutional investors collectively own 97.95% of the company.
• Landstar reported quarterly EPS of $1.44, below the $1.49 analyst consensus, while revenue rose 18.2% year over year to $1.43 billion. The company increased its quarterly dividend from $0.40 to $0.44 per share.
• Analysts maintain a consensus “Hold” rating with an average price target of $196, compared with the stock’s reported price of $181.63; insider selling was also reported by a director and the CFO.

Sanctuary Advisors LLC purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,827 shares of the transportation company's stock, valued at approximately $1,412,000.

Other hedge funds have also bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Landstar System during the 2nd quarter valued at approximately $698,683,000. Boston Partners grew its position in Landstar System by 24.1% during the third quarter. Boston Partners now owns 1,761,526 shares of the transportation company's stock valued at $216,242,000 after buying an additional 341,808 shares during the period. First Trust Advisors LP grew its position in Landstar System by 19.1% during the first quarter. First Trust Advisors LP now owns 1,118,554 shares of the transportation company's stock valued at $179,315,000 after buying an additional 179,294 shares during the period. AQR Capital Management LLC increased its holdings in Landstar System by 185.5% in the fourth quarter. AQR Capital Management LLC now owns 987,087 shares of the transportation company's stock valued at $141,844,000 after buying an additional 641,319 shares in the last quarter. Finally, Corient Private Wealth LLC raised its position in shares of Landstar System by 99.5% in the fourth quarter. Corient Private Wealth LLC now owns 742,215 shares of the transportation company's stock worth $105,877,000 after acquiring an additional 370,253 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

Landstar System Trading Up 1.8%

LSTR stock opened at $181.63 on Thursday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $228.46. The business's 50-day moving average is $196.33 and its 200 day moving average is $181.78. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.05. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 47.05 and a beta of 0.90.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its earnings results on Tuesday, July 28th. The transportation company reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.49 by ($0.05). The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.34 billion. Landstar System had a net margin of 2.64% and a return on equity of 20.84%. Landstar System's revenue was up 18.2% compared to the same quarter last year. During the same period in the previous year, the company earned $1.20 EPS. On average, sell-side analysts anticipate that Landstar System, Inc. will post 5.84 EPS for the current fiscal year.

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 $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, August 18th. This is an increase from Landstar System's previous quarterly dividend of $0.40. Landstar System's payout ratio is 45.60%.

Insider Buying and Selling at Landstar System

In other news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the sale, the director directly owned 18,853 shares in the company, valued at $4,171,791.84. This represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James P. Todd sold 1,200 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction of $261,804.00. Following the completion of the transaction, the chief financial officer directly owned 15,122 shares in the company, valued at approximately $3,299,166.74. This represents a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on LSTR. Evercore set a $181.00 target price on Landstar System in a research report on Wednesday, April 29th. TD Cowen cut their price objective on Landstar System from $182.00 to $178.00 and set a "hold" rating for the company in a research report on Tuesday, July 28th. Wolfe Research upgraded Landstar System from a "peer perform" rating to an "outperform" rating and set a $214.00 target price on the stock in a research report on Tuesday, August 4th. Zacks Research upgraded Landstar System from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. Finally, Susquehanna lifted their price target on shares of Landstar System from $195.00 to $230.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Two equities research analysts have rated the stock with a Strong Buy rating, three have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $196.00.

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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