Landstar System, Inc. (LSTR) CMO Patrick J. O’malley Sells 23,000 Shares

Landstar System, Inc. (NASDAQ:LSTR) CMO Patrick J. O’malley sold 23,000 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $110.82, for a total transaction of $2,548,860.00. Following the transaction, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Landstar System stock traded down $0.79 during trading hours on Friday, reaching $96.25. The stock had a trading volume of 628,500 shares, compared to its average volume of 359,855. Landstar System, Inc. has a 52 week low of $90.23 and a 52 week high of $128.70. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.94 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 1.27 and a beta of 1.17.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Wednesday, April 24th. The transportation company reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.06. Landstar System had a net margin of 5.68% and a return on equity of 37.24%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company posted $1.37 EPS. The company’s quarterly revenue was down 1.4% compared to the same quarter last year. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.41 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Stockholders of record on Thursday, May 9th will be given a $0.165 dividend. The ex-dividend date is Wednesday, May 8th. This represents a $0.66 annualized dividend and a dividend yield of 0.69%. Landstar System’s dividend payout ratio is 10.68%.

A number of hedge funds and other institutional investors have recently modified their holdings of LSTR. JPMorgan Chase & Co. lifted its position in Landstar System by 4.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 991,473 shares of the transportation company’s stock valued at $120,961,000 after acquiring an additional 39,994 shares during the period. Morgan Stanley lifted its position in Landstar System by 49.6% during the 3rd quarter. Morgan Stanley now owns 161,962 shares of the transportation company’s stock valued at $19,759,000 after acquiring an additional 53,709 shares during the period. Vanguard Group Inc. lifted its position in Landstar System by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,687,689 shares of the transportation company’s stock valued at $449,897,000 after acquiring an additional 21,365 shares during the period. Clearbridge Investments LLC lifted its position in Landstar System by 970,964.3% during the 3rd quarter. Clearbridge Investments LLC now owns 135,949 shares of the transportation company’s stock valued at $16,586,000 after acquiring an additional 135,935 shares during the period. Finally, Federated Investors Inc. PA lifted its position in Landstar System by 86.5% during the 3rd quarter. Federated Investors Inc. PA now owns 95,942 shares of the transportation company’s stock valued at $11,705,000 after acquiring an additional 44,501 shares during the period. 98.65% of the stock is owned by institutional investors.

Several research firms have recently commented on LSTR. Cowen reissued a “market perform” rating and set a $115.00 target price (up from $110.00) on shares of Landstar System in a research report on Thursday, April 25th. Buckingham Research reduced their price objective on shares of Landstar System from $115.00 to $114.00 and set a “neutral” rating for the company in a research report on Tuesday, April 2nd. BidaskClub raised shares of Landstar System from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. Finally, Stifel Nicolaus increased their target price on shares of Landstar System from $119.00 to $123.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $113.22.

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About Landstar System

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 service providers.

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