Landstar System, Inc. (LSTR) to Issue Quarterly Dividend of $0.36 on December 10th

Landstar System, Inc. (NASDAQ:LSTR) announced a quarterly dividend on Monday, October 28th,NASDAQ Dividends reports. Stockholders of record on Tuesday, November 19th will be paid a dividend of 0.36 per share by the transportation company on Tuesday, December 10th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Tuesday, November 19th.

Landstar System has increased its dividend by an average of 16.8% per year over the last three years. Landstar System has a dividend payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

LSTR opened at $182.82 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The business has a fifty day simple moving average of $183.98 and a 200 day simple moving average of $183.38. Landstar System has a 1 year low of $165.39 and a 1 year high of $201.40. The company has a market capitalization of $6.46 billion, a PE ratio of 31.36 and a beta of 0.81.

Landstar System (NASDAQ:LSTR) last posted its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts’ consensus estimates of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the prior year, the business posted $1.71 EPS. The firm’s quarterly revenue was down 5.8% compared to the same quarter last year. Research analysts expect that Landstar System will post 5.57 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on LSTR. Susquehanna lowered their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. Stifel Nicolaus lowered their price objective on Landstar System from $164.00 to $160.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Stephens cut their target price on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 30th. TD Cowen reduced 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. Finally, UBS Group boosted their price target on Landstar System from $184.00 to $186.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $174.25.

Insider Activity

In other news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total transaction of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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.