Landstar System, Inc. Announces Quarterly Dividend of $0.40 (NASDAQ:LSTR)

Key Points

• $0.40 per share quarterly dividend announced, payable June 9 to shareholders of record on May 19 (ex-dividend date May 19), equal to $1.60 annualized and about a 0.9% yield.
• Dividend raised for 10 consecutive years and backed by a conservative payout ratio (25.2%), with analysts' earnings forecasts implying an expected future payout ratio near 23%, suggesting continued dividend coverage.
• Landstar beat Q1 estimates with $1.16 EPS vs. $1.11 expected and $1.17B revenue (up 1.6% YoY); the stock trades near its 52‑week high (~$182) with a market cap of $6.2B and a PE of ~55.

Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) announced a quarterly dividend on Tuesday, April 28th. Shareholders of record on Tuesday, May 19th will be paid a dividend of 0.40 per share by the transportation company on Tuesday, June 9th. This represents a c) dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, May 19th.

Landstar System has increased its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 10 years. Landstar System has a payout ratio of 25.2% indicating that its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $6.93 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 23.1%.

Landstar System Stock Up 1.3%

Shares of LSTR opened at $182.41 on Wednesday. Landstar System has a 52-week low of $119.32 and a 52-week high of $182.78. The company has a market capitalization of $6.20 billion, a PE ratio of 55.11 and a beta of 0.80. The stock has a fifty day simple moving average of $160.58 and a two-hundred day simple moving average of $147.67. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.06.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its earnings results on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.11 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.15 billion. Landstar System had a return on equity of 17.68% and a net margin of 2.42%.The company's revenue for the quarter was up 1.6% on a year-over-year basis. During the same period last year, the company earned $0.95 EPS. As a group, equities analysts forecast that Landstar System will post 5.44 EPS for the current year.

Hedge Funds Weigh In On Landstar System

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Peterson Wealth Services boosted its stake in shares of Landstar System by 1,108.4% in the 3rd quarter. Peterson Wealth Services now owns 10,960 shares of the transportation company's stock valued at $1,343,000 after buying an additional 10,053 shares during the period. Alps Advisors Inc. boosted its stake in shares of Landstar System by 69.8% in the 3rd quarter. Alps Advisors Inc. now owns 94,863 shares of the transportation company's stock valued at $11,626,000 after buying an additional 38,992 shares during the period. Ballast Asset Management LP boosted its stake in shares of Landstar System by 28.2% in the 3rd quarter. Ballast Asset Management LP now owns 34,579 shares of the transportation company's stock valued at $4,238,000 after buying an additional 7,614 shares during the period. Retirement Systems of Alabama boosted its stake in shares of Landstar System by 48.2% in the 3rd quarter. Retirement Systems of Alabama now owns 63,299 shares of the transportation company's stock valued at $7,758,000 after buying an additional 20,586 shares during the period. Finally, Fenimore Asset Management Inc boosted its stake in shares of Landstar System by 231.3% in the 3rd quarter. Fenimore Asset Management Inc now owns 341,130 shares of the transportation company's stock valued at $41,809,000 after buying an additional 238,173 shares during the period. Hedge funds and other institutional investors own 97.95% of the company's stock.

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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