Landstar System, Inc. (NASDAQ:LSTR) Plans Special Dividend of $2.00

Landstar System, Inc. (NASDAQ:LSTR) announced a special dividend on Tuesday, December 10th,RTT News reports. Investors of record on Tuesday, January 7th will be paid a dividend of 2.00 per share by the transportation company on Tuesday, January 21st. This is an increase from Landstar System’s previous special dividend of $1.50.

Landstar System has raised its dividend payment by an average of 16.8% per year over the last three years. Landstar System has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.1 %

Shares of LSTR opened at $188.35 on Thursday. Landstar System has a fifty-two week low of $165.39 and a fifty-two week high of $201.40. The company has a market capitalization of $6.65 billion, a PE ratio of 32.31 and a beta of 0.82. The stock has a fifty day moving average of $184.33 and a two-hundred day moving average of $183.85. 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 Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The business had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the company posted $1.71 earnings per share. The business’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, analysts forecast that Landstar System will post 5.57 EPS for the current year.

Wall Street Analysts Forecast Growth

LSTR has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Landstar System from $184.00 to $188.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price objective on shares of Landstar System from $165.00 to $158.00 and set a “sell” rating for the company in a research note on Wednesday, October 9th. TD Cowen dropped their price objective on Landstar System from $176.00 to $174.00 and set a “hold” rating for the company in a report on Wednesday, October 30th. Evercore ISI reduced their target price on Landstar System from $165.00 to $160.00 and set an “in-line” rating on the stock in a report on Wednesday, October 30th. Finally, Raymond James lowered Landstar System from an “outperform” rating to a “market perform” rating in a research note on Friday, November 15th. One research 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 stock presently has an average rating of “Hold” and a consensus target price of $174.25.

Insider Activity at Landstar System

In other Landstar System news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares of the company’s stock, valued at $2,595,778.56. This represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.00% of the company’s stock.

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 services.