Landstar System (NASDAQ:LSTR) Director Diana Murphy Sells 11,246 Shares

Key Points

• Director Diana Murphy sold 11,246 shares of Landstar System on June 5 at an average price of $221.28, for proceeds of about $2.49 million. After the sale, she still held 18,853 shares, a 37.36% reduction in her stake.
• Landstar stock rose 3.4% in Monday trading to $225.37, near its 52-week high of $228.46. The company’s market cap is about $7.65 billion, and its debt-to-equity ratio remains very low at 0.05.
• Recent fundamentals were solid, with Landstar reporting Q1 EPS of $1.16 versus the $1.11 consensus and revenue of $1.17 billion, slightly ahead of estimates. The company also announced a $0.40 quarterly dividend and a share buyback authorization covering up to 3.3% of its stock.

Landstar System, Inc. (NASDAQ:LSTR - Get Free Report) Director Diana Murphy sold 11,246 shares of the firm'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 sale, the director owned 18,853 shares of the company's stock, 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 SEC, which can be accessed through this link.

Landstar System Stock Up 3.4%

Shares of LSTR stock traded up $7.31 during trading on Monday, hitting $225.37. 489,115 shares of the company were exchanged, compared to its average volume of 534,190. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of 62.26 and a beta of 0.88. The business's 50-day simple moving average is $181.14 and its 200 day simple moving average is $159.25. Landstar System, Inc. has a twelve month low of $119.32 and a twelve month high of $228.46.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The transportation company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.11 by $0.05. The business had revenue of $1.17 billion during the quarter, compared to analysts' expectations of $1.16 billion. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The firm's quarterly revenue was up 1.6% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. As a group, analysts forecast that Landstar System, Inc. will post 5.57 EPS for the current fiscal year.

Landstar System Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th will be paid a $0.40 dividend. The ex-dividend date is Tuesday, May 19th. This represents a $1.60 dividend on an annualized basis and a yield of 0.7%. Landstar System's payout ratio is 44.20%.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Truist Financial lifted their target price on shares of Landstar System from $145.00 to $190.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Weiss Ratings upgraded shares of Landstar System from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. Susquehanna lifted their target price on shares of Landstar System from $185.00 to $195.00 and gave the company a "neutral" rating in a research note on Wednesday, April 29th. Evercore set a $181.00 price target on shares of Landstar System in a research report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price target 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. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $183.00.

Hedge Funds Weigh In On Landstar System

Large investors have recently bought and sold shares of the stock. Alps Advisors Inc. increased its holdings in 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. CWM LLC increased its holdings in Landstar System by 196.5% in the 4th quarter. CWM LLC now owns 6,149 shares of the transportation company's stock valued at $884,000 after buying an additional 4,075 shares during the period. Jensen Investment Management Inc. bought a new stake in Landstar System in the 3rd quarter valued at $766,000. Fenimore Asset Management Inc increased its holdings in Landstar System by 42.5% in the 4th quarter. Fenimore Asset Management Inc now owns 486,165 shares of the transportation company's stock valued at $69,862,000 after buying an additional 145,035 shares during the period. Finally, Gotham Asset Management LLC increased its holdings in Landstar System by 65.0% in the 3rd quarter. Gotham Asset Management LLC now owns 260,252 shares of the transportation company's stock valued at $31,896,000 after buying an additional 102,524 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

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.

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