Landstar System, Inc. (LSTR) Raises Dividend to $0.15 Per Share

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Wednesday, January 31st, RTT News reports. Investors of record on Monday, February 19th will be given a dividend of 0.15 per share by the transportation company on Friday, March 16th. This represents a $0.60 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, February 15th. This is a boost from Landstar System’s previous quarterly dividend of $0.10.

Landstar System (NASDAQ LSTR) opened at $105.35 on Friday. The stock has a market cap of $4,474.13, a PE ratio of 25.02, a P/E/G ratio of 1.62 and a beta of 0.81. Landstar System has a 1-year low of $80.00 and a 1-year high of $118.60. The company has a current ratio of 1.75, a quick ratio of 1.96 and a debt-to-equity ratio of 0.13.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings results on Wednesday, January 31st. The transportation company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.06. The firm had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Landstar System had a net margin of 4.86% and a return on equity of 25.30%. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.94 earnings per share. analysts predict that Landstar System will post 4.87 EPS for the current fiscal year.

Several research analysts recently issued reports on the stock. Buckingham Research increased their price target on shares of Landstar System from $114.00 to $126.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. KeyCorp reissued a “buy” rating and set a $125.00 price target on shares of Landstar System in a report on Friday, February 2nd. Cowen reissued a “market perform” rating and set a $115.00 price target (up from $97.00) on shares of Landstar System in a report on Thursday, February 1st. Cleveland Research raised shares of Landstar System from a “neutral” rating to a “buy” rating in a report on Friday, January 26th. Finally, Zacks Investment Research raised shares of Landstar System from a “hold” rating to a “buy” rating and set a $121.00 price target for the company in a report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company’s stock. Landstar System currently has an average rating of “Hold” and a consensus price target of $105.75.

In other Landstar System news, Director Dr. Homaira Akbari sold 1,000 shares of the stock in a transaction dated Friday, November 24th. The shares were sold at an average price of $98.30, for a total value of $98,300.00. Following the completion of the transaction, the director now directly owns 6,656 shares of the company’s stock, valued at $654,284.80. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.

Landstar System declared that its board has initiated a stock repurchase program on Wednesday, December 13th that permits the company to buyback 1,960,000 shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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Landstar System Company Profile

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.

Dividend History for Landstar System (NASDAQ:LSTR)

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