Trivium Point Advisory LLC Acquires New Holdings in Landstar System, Inc. $LSTR

Trivium Point Advisory LLC bought a new position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 49,410 shares of the transportation company's stock, valued at approximately $10,219,000. Landstar System accounts for approximately 0.9% of Trivium Point Advisory LLC's holdings, making the stock its 28th largest holding. Trivium Point Advisory LLC owned about 0.15% of Landstar System at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC raised its stake in shares of Landstar System by 41.8% during the second quarter. Elevation Wealth Partners LLC now owns 224 shares of the transportation company's stock valued at $46,000 after acquiring an additional 66 shares during the last quarter. First Citizens Bank & Trust Co. grew its stake in shares of Landstar System by 1.5% in the first quarter. First Citizens Bank & Trust Co. now owns 4,710 shares of the transportation company's stock worth $755,000 after purchasing an additional 68 shares during the last quarter. Petros Family Wealth LLC grew its stake in shares of Landstar System by 4.9% in the first quarter. Petros Family Wealth LLC now owns 1,548 shares of the transportation company's stock worth $248,000 after purchasing an additional 73 shares during the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Landstar System by 29.5% in the fourth quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company's stock worth $49,000 after purchasing an additional 78 shares during the last quarter. Finally, SkyView Investment Advisors LLC increased its holdings in Landstar System by 1.4% in the fourth quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company's stock valued at $918,000 after purchasing an additional 89 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Diana M. Murphy sold 11,246 shares of the company's stock in a transaction that occurred 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 represents a 37.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 directly owned 15,122 shares of the company's stock, valued at $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.

Analysts Set New Price Targets

Several research analysts have commented on LSTR shares. Morgan Stanley reaffirmed an "underweight" rating and set a $145.00 target price on shares of Landstar System in a report on Monday, July 6th. Janney Montgomery Scott set a $182.00 price objective on Landstar System in a research report on Wednesday, July 29th. Stifel Nicolaus upped their target price on Landstar System from $186.00 to $197.00 and gave the company a "hold" rating in a report on Wednesday, July 29th. Wells Fargo & Company increased their target price on shares of Landstar System from $200.00 to $240.00 and gave the company an "overweight" rating in a research report on Friday, June 5th. Finally, Evercore set a $181.00 price target on shares of Landstar System in a research report on Wednesday, April 29th. Two investment analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $196.00.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $190.19 on Monday. The company has a market capitalization of $6.46 billion, a P/E ratio of 49.27 and a beta of 0.90. The company's 50-day moving average is $202.08 and its 200 day moving average is $180.17. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.82 and a current ratio of 1.82. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The transportation company reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.49 by ($0.05). The company had revenue of $1.43 billion for the quarter, compared to analysts' expectations of $1.34 billion. Landstar System had a return on equity of 20.84% and a net margin of 2.64%.The business's quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the business posted $1.20 EPS. On average, equities research analysts forecast that Landstar System, Inc. will post 5.84 earnings per share for the current year.

Landstar System announced that its Board of Directors has initiated a share buyback plan on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization permits the transportation company to repurchase up to 3.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board believes its stock is undervalued.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 9th. Investors of record on Tuesday, August 18th will be issued a $0.44 dividend. This is a boost from Landstar System's previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 0.9%. Landstar System's payout ratio is presently 41.45%.

About Landstar System

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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