Landstar System, Inc. (NASDAQ:LSTR) Announces Quarterly Dividend of $0.36

Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Thursday, January 30th,Wall Street Journal reports. Shareholders of record on Tuesday, February 18th will be given a dividend of 0.36 per share by the transportation company on Tuesday, March 11th. This represents a $1.44 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, February 18th.

Landstar System has raised its dividend by an average of 14.5% per year over the last three years. Landstar System has a dividend payout ratio of 19.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Landstar System to earn $6.70 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 21.5%.

Landstar System Stock Down 3.4 %

Shares of Landstar System stock traded down $5.95 during trading on Thursday, reaching $166.97. The company had a trading volume of 494,490 shares, compared to its average volume of 317,040. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 28.64 and a beta of 0.83. Landstar System has a fifty-two week low of $163.18 and a fifty-two week high of $197.16. The firm’s fifty day moving average is $177.67 and its 200-day moving average is $182.26. 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 (NASDAQ:LSTR) last released its earnings results on Wednesday, January 29th. The transportation company reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.35 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. On average, analysts anticipate that Landstar System will post 5.57 EPS for the current year.

Insiders Place Their Bets

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the firm’s stock in a transaction that occurred 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 owns 14,083 shares in the company, valued at approximately $2,595,778.56. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on LSTR. The Goldman Sachs Group cut their price target 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 reduced their target price on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. Stifel Nicolaus upped their price objective on shares of Landstar System from $164.00 to $169.00 and gave the company a “hold” rating in a research note on Thursday, January 23rd. Finally, Susquehanna dropped their target price on shares of Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $171.27.

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.