Vise Technologies Inc. Makes New $1.41 Million Investment in Landstar System, Inc. $LSTR

Key Points

• Vise Technologies purchased 6,805 Landstar System shares during the second quarter, worth approximately $1.41 million. Institutional investors and hedge funds collectively own 97.95% of the company.
• Analyst sentiment remains mixed, with Landstar carrying an average “Hold” rating and a consensus price target of $196. Recent targets range from $145 to $240.
• Landstar reported quarterly revenue of $1.43 billion, up 18.2% year over year, but EPS of $1.44 fell short of estimates. The company raised its quarterly dividend to $0.44 per share, while two insiders recently sold shares.

Vise Technologies Inc. purchased a new stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 6,805 shares of the transportation company's stock, valued at approximately $1,407,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC increased its holdings in shares of Landstar System by 9.8% during the first quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company's stock worth $566,000 after buying an additional 336 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Landstar System by 57.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company's stock worth $20,729,000 after purchasing an additional 50,142 shares in the last quarter. Empowered Funds LLC raised its position in Landstar System by 38.3% in the first quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company's stock valued at $704,000 after purchasing an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Landstar System by 13.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company's stock valued at $21,380,000 after purchasing an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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 transaction of $2,488,514.88. Following the transaction, the director directly owned 18,853 shares of the company's stock, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO James P. Todd sold 1,200 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were 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 trade represents a 7.35% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.74% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on LSTR. TD Cowen dropped their price objective on shares of Landstar System from $182.00 to $178.00 and set a "hold" rating for the company in a report on Tuesday, July 28th. Truist Financial upped their price target on shares of Landstar System from $190.00 to $205.00 and gave the company a "hold" rating in a research report on Wednesday, July 15th. UBS Group reaffirmed a "neutral" rating and set a $195.00 price target on shares of Landstar System in a research note on Wednesday, July 29th. Wells Fargo & Company boosted their price objective on shares of Landstar System from $200.00 to $240.00 and gave the stock an "overweight" rating in a research note on Friday, June 5th. Finally, Morgan Stanley restated an "underweight" rating and issued a $145.00 price objective on shares of Landstar System in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $196.00.

Landstar System Stock Performance

NASDAQ:LSTR opened at $186.58 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.05. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46. The company has a fifty day moving average of $198.40 and a 200-day moving average of $181.21. The firm has a market capitalization of $6.33 billion, a P/E ratio of 48.34 and a beta of 0.90.

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

Landstar System declared that its board has authorized a share repurchase plan on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 outstanding shares. This repurchase authorization allows the transportation company to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Tuesday, August 18th will be paid a $0.44 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. This is a boost from Landstar System's previous quarterly dividend of $0.40. Landstar System's dividend payout ratio (DPR) is 45.60%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source