Landstar System (NASDAQ:LSTR) Posts Earnings Results, Beats Expectations By $0.04 EPS

Landstar System (NASDAQ:LSTR) released its earnings results on Wednesday. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04, reports. Landstar System had a net margin of 4.63% and a return on equity of 23.17%. The business had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.12 billion.

Landstar System Stock Down 0.1 %

Shares of NASDAQ:LSTR traded down $0.14 during midday trading on Friday, reaching $177.29. The company had a trading volume of 15,074 shares, compared to its average volume of 272,612. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.00 and a quick ratio of 2.00. The stock’s fifty day moving average price is $184.66 and its 200-day moving average price is $183.48. The stock has a market capitalization of $6.34 billion, a P/E ratio of 27.30, a PEG ratio of 4.51 and a beta of 0.83. Landstar System has a one year low of $161.13 and a one year high of $208.62.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th will be given a dividend of $0.33 per share. The ex-dividend date is Tuesday, May 7th. This represents a $1.32 dividend on an annualized basis and a yield of 0.74%. Landstar System’s dividend payout ratio (DPR) is 20.31%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on LSTR shares. Wells Fargo & Company upped their price objective on shares of Landstar System from $165.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Susquehanna reduced their target price on shares of Landstar System from $170.00 to $165.00 and set a “neutral” rating for the company in a research note on Monday, March 25th. Stifel Nicolaus lowered their price objective on Landstar System from $171.00 to $166.00 and set a “hold” rating on the stock in a research report on Friday, February 2nd. UBS Group increased their target price on shares of Landstar System from $175.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, Wolfe Research upgraded shares of Landstar System from a “peer perform” rating to an “outperform” rating and set a $205.00 target price for the company in a report on Wednesday, January 10th. Eight analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $184.55.

Insider Buying and Selling at Landstar System

In other Landstar System news, VP Michael K. Kneller sold 12,219 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $190.30, for a total value of $2,325,275.70. Following the sale, the vice president now directly owns 61,127 shares in the company, valued at $11,632,468.10. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Landstar System

Hedge funds have recently modified their holdings of the business. National Bank of Canada FI grew its holdings in shares of Landstar System by 612.0% during the third quarter. National Bank of Canada FI now owns 11,064 shares of the transportation company’s stock worth $1,928,000 after purchasing an additional 9,510 shares during the last quarter. AE Wealth Management LLC acquired a new stake in Landstar System in the 3rd quarter valued at approximately $223,000. SG Americas Securities LLC raised its position in Landstar System by 10.9% in the 3rd quarter. SG Americas Securities LLC now owns 6,686 shares of the transportation company’s stock valued at $1,183,000 after buying an additional 658 shares during the last quarter. Impact Partnership Wealth LLC acquired a new stake in Landstar System in the 3rd quarter valued at approximately $108,000. Finally, DAVENPORT & Co LLC increased its position in shares of Landstar System by 1.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 9,374 shares of the transportation company’s stock worth $1,659,000 after purchasing an additional 177 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Company Profile

Landstar System, Inc provides integrated transportation management solutions in the United States, Canada, Mexico, and internationally. It operates through two segments: Transportation Logistics and Insurance. The Transportation Logistics segment offers a range of transportation services, including truckload and less-than-truckload transportation, rail intermodal, air cargo, ocean cargo, expedited ground and air delivery of time-critical freight, heavy-haul/specialized, U.S.-Canada and U.S.-Mexico cross-border, intra-Mexico, intra-Canada, project cargo, and customs brokerage, as well as offers transportation services to other transportation companies, such as third party logistics and less-than-truckload services.