Landstar System, Inc. (NASDAQ:LSTR) declared a quarterly dividend on Thursday, April 25th, Wall Street Journal reports. Shareholders of record on Thursday, May 9th will be paid a dividend of 0.165 per share by the transportation company on Friday, May 31st. This represents a $0.66 annualized dividend and a dividend yield of 0.62%. The ex-dividend date of this dividend is Wednesday, May 8th.
Landstar System has raised its dividend payment by an average of 28.1% per year over the last three years and has raised its dividend annually for the last 14 consecutive years. Landstar System has a payout ratio of 10.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Landstar System to earn $6.74 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 9.8%.
LSTR stock opened at $106.67 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.00 and a current ratio of 2.00. Landstar System has a 52-week low of $90.23 and a 52-week high of $128.70. The stock has a market cap of $4.26 billion, a PE ratio of 17.26, a PEG ratio of 1.38 and a beta of 1.17.
LSTR has been the subject of several research analyst reports. BidaskClub upgraded shares of Landstar System from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. Cowen restated a “hold” rating and set a $100.00 price target on shares of Landstar System in a research report on Wednesday, January 30th. Buckingham Research set a $115.00 price target on shares of Landstar System and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, Stifel Nicolaus upped their price target on shares of Landstar System from $119.00 to $123.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $113.22.
In other Landstar System news, CMO Patrick J. O’malley sold 23,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $110.82, for a total value of $2,548,860.00. Following the completion of the sale, the chief marketing officer now owns 20,929 shares in the company, valued at approximately $2,319,351.78. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Joseph J. Beacom sold 5,000 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $114.12, for a total transaction of $570,600.00. Following the completion of the sale, the chief operating officer now owns 45,924 shares of the company’s stock, valued at approximately $5,240,846.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 53,481 shares of company stock valued at $5,941,557. 1.00% of the stock is owned by insiders.
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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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