Landstar System, Inc. (NASDAQ:LSTR) Plans Special Dividend of $2.00

Landstar System, Inc. (NASDAQ:LSTR) declared a special dividend on Tuesday, December 10th,RTT News reports. Shareholders of record on Tuesday, January 7th will be paid a dividend of 2.00 per share by the transportation company on Tuesday, January 21st. This is a boost from Landstar System’s previous special dividend of $1.50.

Landstar System has increased its dividend payment by an average of 16.8% per year over the last three years. Landstar System has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Landstar System to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.44 annual dividend with an expected future payout ratio of 20.5%.

Landstar System Trading Up 1.4 %

Landstar System stock traded up $2.60 during mid-day trading on Tuesday, hitting $188.09. The company’s stock had a trading volume of 265,880 shares, compared to its average volume of 255,133. The company has a 50 day moving average of $184.21 and a 200-day moving average of $183.76. The stock has a market cap of $6.65 billion, a PE ratio of 32.33 and a beta of 0.82. The company has a debt-to-equity ratio of 0.04, a quick ratio of 2.21 and a current ratio of 2.21. Landstar System has a one year low of $165.39 and a one year high of $201.40.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business’s revenue was down 5.8% compared to the same quarter last year. During the same period last year, the company earned $1.71 EPS. On average, research analysts anticipate that Landstar System will post 5.57 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. TD Cowen dropped their target price on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Wednesday, October 30th. The Goldman Sachs Group dropped their target price on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a report on Wednesday, October 9th. Stephens dropped their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. Finally, Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating and twelve have issued a hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $174.25.

Insider Buying and Selling at Landstar System

In other news, CFO James P. Todd sold 1,000 shares of Landstar System stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the sale, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.75% of the company’s stock.

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.