Insider Buying: Landstar System (NASDAQ:LSTR) CEO Acquires $714,600.00 in Stock

Key Points

• CEO Frank Lonegro purchased 5,000 Landstar shares at an average price of $142.92, investing $714,600 and increasing his stake by 21.64% to 28,110 shares.
• Landstar’s latest quarter showed revenue growth of 25.4% year over year to $1.51 billion, but EPS of $1.42 missed analyst expectations of $1.67.
• The company declared a quarterly dividend of $0.44 per share, equivalent to $1.76 annually and a 1.2% yield; analysts’ consensus rating remains “Hold,” with an average price target of $182.33.

Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) CEO Frank Lonegro acquired 5,000 shares of the firm's stock in a transaction that occurred on Friday, October 30th. The shares were purchased at an average cost of $142.92 per share, with a total value of $714,600.00. Following the completion of the acquisition, the chief executive officer owned 28,110 shares in the company, valued at $4,017,481.20. This trade represents a 21.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Landstar System Price Performance

Shares of NASDAQ:LSTR traded up $4.04 on Monday, hitting $146.74. The stock had a trading volume of 20,645 shares, compared to its average volume of 484,079. Landstar System, Inc. has a twelve month low of $121.11 and a twelve month high of $228.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.79 and a current ratio of 1.79. The firm's 50 day moving average price is $170.04 and its 200-day moving average price is $176.54. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 31.09 and a beta of 0.89.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The transportation company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.67 by ($0.25). Landstar System had a net margin of 3.03% and a return on equity of 23.89%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. During the same period last year, the company earned $1.22 EPS. The company's revenue was up 25.4% compared to the same quarter last year. On average, equities research analysts predict that Landstar System, Inc. will post 5.75 earnings per share for the current year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 8th. Investors of record on Tuesday, November 17th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $1.76 annualized dividend and a dividend yield of 1.2%. Landstar System's dividend payout ratio (DPR) is currently 37.29%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of LSTR. Provenance Wealth Advisors LLC purchased a new stake in shares of Landstar System during the 3rd quarter valued at $35,000. Next Level Wealth Planning LLC purchased a new position in shares of Landstar System in the third quarter valued at approximately $121,000. Bridge City Capital LLC raised its stake in Landstar System by 33.3% during the third quarter. Bridge City Capital LLC now owns 47,819 shares of the transportation company's stock worth $8,064,000 after purchasing an additional 11,952 shares during the period. Parcion Private Wealth LLC lifted its position in Landstar System by 13.4% in the third quarter. Parcion Private Wealth LLC now owns 1,669 shares of the transportation company's stock valued at $281,000 after buying an additional 197 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its stake in Landstar System by 31.4% during the 3rd quarter. Park Avenue Securities LLC now owns 1,607 shares of the transportation company's stock worth $271,000 after acquiring an additional 384 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on LSTR shares. Wells Fargo & Company dropped their target price on Landstar System from $225.00 to $215.00 and set an "overweight" rating for the company in a research report on Wednesday, October 28th. Weiss Ratings restated a "hold (c)" rating on shares of Landstar System in a research note on Friday, September 11th. Zacks Research cut shares of Landstar System from a "strong-buy" rating to a "hold" rating in a research report on Friday, September 4th. The Goldman Sachs Group increased their price target on shares of Landstar System from $147.00 to $168.00 and gave the company a "sell" rating in a research report on Thursday, July 16th. Finally, Janney Montgomery Scott set a $182.00 price objective on shares of Landstar System in a research note on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $182.33.

Landstar System Company Profile

Landstar System, Inc NASDAQ: LSTR is an asset-light transportation and logistics company headquartered in Jacksonville, Florida. Through a network of independent owner-operators, agents and third-party capacity providers, the company arranges the movement of freight for commercial and industrial customers.

Landstar's services include truckload transportation, specialized and heavy-haul freight, expedited and time-critical shipping, less-than-truckload transportation, intermodal services and logistics management.

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