Landstar System, Inc. (LSTR) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lowered its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 10.5% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 598,640 shares of the transportation company’s stock after selling 70,153 shares during the period. Janus Henderson Group PLC owned approximately 1.43% of Landstar System worth $59,654,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Landstar System by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,119 shares of the transportation company’s stock valued at $524,000 after acquiring an additional 17 shares during the period. Oppenheimer & Co. Inc. increased its stake in Landstar System by 0.5% in the second quarter. Oppenheimer & Co. Inc. now owns 8,770 shares of the transportation company’s stock valued at $751,000 after acquiring an additional 40 shares during the period. IFP Advisors Inc increased its stake in Landstar System by 2.9% in the second quarter. IFP Advisors Inc now owns 1,646 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 47 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Landstar System by 1.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 7,308 shares of the transportation company’s stock valued at $502,000 after acquiring an additional 109 shares during the period. Finally, Raymond James Trust N.A. increased its stake in Landstar System by 4.0% in the second quarter. Raymond James Trust N.A. now owns 4,648 shares of the transportation company’s stock valued at $398,000 after acquiring an additional 178 shares during the period. 97.96% of the stock is owned by institutional investors and hedge funds.

In other Landstar System news, CEO James B. Gattoni sold 15,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $98.72, for a total transaction of $1,480,800.00. Following the sale, the chief executive officer now directly owns 69,339 shares of the company’s stock, valued at $6,845,146.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dr. Homaira Akbari sold 1,000 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $98.30, for a total transaction of $98,300.00. Following the sale, the director now directly owns 6,656 shares in the company, valued at $654,284.80. The disclosure for this sale can be found here. Insiders have sold 40,805 shares of company stock worth $4,028,128 over the last ninety days. Insiders own 1.00% of the company’s stock.

A number of research firms recently weighed in on LSTR. BidaskClub raised shares of Landstar System from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 5th. Buckingham Research began coverage on shares of Landstar System in a research note on Friday, October 20th. They issued a “neutral” rating and a $103.00 target price on the stock. Cowen reissued a “hold” rating and issued a $86.00 target price on shares of Landstar System in a research note on Monday, August 28th. Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $111.00 target price on the stock in a research note on Tuesday, October 10th. Finally, KeyCorp reissued a “buy” rating and issued a $110.00 target price on shares of Landstar System in a research note on Tuesday, October 3rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Landstar System currently has a consensus rating of “Hold” and a consensus target price of $96.67.

Shares of Landstar System, Inc. (LSTR) opened at $103.65 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.96 and a current ratio of 1.96. The firm has a market cap of $4,351.85, a PE ratio of 28.73, a price-to-earnings-growth ratio of 2.09 and a beta of 0.81. Landstar System, Inc. has a 52 week low of $80.00 and a 52 week high of $107.60.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, October 25th. The transportation company reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.96 by $0.05. The firm had revenue of $943.40 million for the quarter, compared to analysts’ expectations of $895.31 million. Landstar System had a net margin of 4.36% and a return on equity of 25.53%. The company’s quarterly revenue was up 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 earnings per share. sell-side analysts predict that Landstar System, Inc. will post 3.68 EPS for the current fiscal year.

Landstar System declared that its Board of Directors has initiated a share buyback program on Wednesday, December 13th that authorizes the company to buyback 1,960,000 outstanding shares. This buyback authorization authorizes the transportation company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

The company also recently disclosed a special dividend, which will be paid on Friday, January 26th. Shareholders of record on Friday, January 12th will be paid a dividend of $1.50 per share. This represents a yield of 0.39%. This is a boost from Landstar System’s previous special dividend of $1.00. The ex-dividend date of this dividend is Thursday, January 11th. Landstar System’s dividend payout ratio is currently 11.08%.

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About Landstar System

Landstar System, Inc (Landstar) is an asset-light provider of integrated transportation management solutions. The Company offers services to its customers across multiple transportation modes, with the ability to arrange for individual shipments of freight to enterprise solutions to manage customer’s transportation needs.

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Institutional Ownership by Quarter for Landstar System (NASDAQ:LSTR)

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