Vanguard Group Inc. Cuts Position in Landstar System, Inc. $LSTR

Key Points

• Vanguard Group Inc. trimmed its Q4 stake in Landstar by 1.4% (sold 47,189 shares) and still holds 3,209,660 shares — about 9.34% of the company (~$461.2M); institutional investors own roughly 97.95% of the stock.
• Landstar slightly beat quarterly estimates with $1.16 EPS (vs. $1.11) and $1.17B revenue, and its board approved a share repurchase program to buy roughly 3.3% of shares while declaring a $0.40 quarterly dividend (0.9% yield).
• Wall Street consensus is a "Hold" with a $178.45 target; the stock trades near $180, has a 12‑month range of $119.32–$195.84, a market cap of $6.12B and a PE of about 49.8.

Vanguard Group Inc. lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,209,660 shares of the transportation company's stock after selling 47,189 shares during the period. Vanguard Group Inc. owned about 9.34% of Landstar System worth $461,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quarry LP purchased a new stake in shares of Landstar System during the 3rd quarter valued at about $25,000. UMB Bank n.a. grew its position in 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 acquiring an additional 225 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Landstar System by 132.7% during the first 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 during the period. Caitong International Asset Management Co. Ltd raised its stake in shares of Landstar System by 1,490.0% during the third quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company's stock valued at $39,000 after purchasing an additional 298 shares during the period. Finally, Private Trust Co. NA raised its stake in shares of Landstar System by 81.0% during the fourth quarter. Private Trust Co. NA now owns 277 shares of the transportation company's stock valued at $40,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Trading Up 1.9%

LSTR opened at $180.32 on Wednesday. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $195.84. 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 stock has a market capitalization of $6.12 billion, a PE ratio of 49.81 and a beta of 0.85. The firm's fifty day moving average price is $162.55 and its 200 day moving average price is $148.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share for the quarter, topping the consensus estimate 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 net margin of 2.62% and a return on equity of 19.49%. The firm's revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the business earned $0.95 EPS. As a group, research analysts expect that Landstar System, Inc. will post 5.55 EPS for the current fiscal year.

Landstar System declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 shares. This repurchase authorization permits the transportation company to buy up to 3.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its shares are undervalued.

Landstar System Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a dividend of $0.40 per share. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.9%. Landstar System's dividend payout ratio is presently 44.20%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LSTR. Stifel Nicolaus upped their target price on shares of Landstar System from $147.00 to $175.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Benchmark reiterated a "hold" rating on shares of Landstar System in a report on Thursday, January 29th. JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $161.00 to $179.00 and gave the company a "neutral" rating in a research report on Wednesday, April 29th. Barclays lifted their target price on Landstar System from $130.00 to $155.00 and gave the stock an "equal weight" rating in a research report on Thursday, January 15th. Finally, Evercore set a $181.00 price target on Landstar System in a research note on Wednesday, April 29th. One research 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $178.45.

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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