Landstar System, Inc. $LSTR Stock Position Lowered by Mountain Pacific Investment Advisers LLC

Mountain Pacific Investment Advisers LLC trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 67.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,204 shares of the transportation company’s stock after selling 120,810 shares during the period. Landstar System accounts for 1.1% of Mountain Pacific Investment Advisers LLC’s investment portfolio, making the stock its 27th biggest holding. Mountain Pacific Investment Advisers LLC owned 0.17% of Landstar System worth $7,256,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Boston Partners grew its holdings in shares of Landstar System by 14.2% during the second quarter. Boston Partners now owns 1,419,718 shares of the transportation company’s stock valued at $197,310,000 after buying an additional 176,601 shares in the last quarter. First Trust Advisors LP grew its stake in Landstar System by 6.8% during the 2nd quarter. First Trust Advisors LP now owns 731,615 shares of the transportation company’s stock valued at $101,709,000 after acquiring an additional 46,547 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Landstar System by 7.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 725,343 shares of the transportation company’s stock valued at $100,837,000 after acquiring an additional 52,392 shares in the last quarter. Reinhart Partners LLC. increased its holdings in shares of Landstar System by 36.4% in the 3rd quarter. Reinhart Partners LLC. now owns 581,293 shares of the transportation company’s stock valued at $71,245,000 after purchasing an additional 155,260 shares during the period. Finally, Copeland Capital Management LLC lifted its position in shares of Landstar System by 13.1% in the second quarter. Copeland Capital Management LLC now owns 425,443 shares of the transportation company’s stock worth $59,145,000 after purchasing an additional 49,353 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on LSTR shares. Robert W. Baird set a $159.00 price objective on shares of Landstar System in a research report on Wednesday, January 7th. Stifel Nicolaus lifted their target price on shares of Landstar System from $140.00 to $147.00 and gave the company a “hold” rating in a research note on Wednesday, January 14th. Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a research note on Monday, December 8th. Susquehanna increased their price objective on Landstar System from $110.00 to $160.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, TD Cowen reissued a “hold” rating on shares of Landstar System in a research report on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $153.00.

Landstar System Stock Up 3.9%

LSTR stock opened at $157.06 on Thursday. The firm has a market cap of $5.40 billion, a PE ratio of 40.07 and a beta of 0.84. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $179.66. The company has a fifty day simple moving average of $140.92 and a 200 day simple moving average of $134.30. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, October 28th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The business’s revenue was down .7% compared to the same quarter last year. During the same quarter last year, the company posted $1.41 EPS. Sell-side analysts anticipate that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Dividend Announcement

The business also recently disclosed an annual dividend, which was paid on Wednesday, January 21st. Stockholders of record on Tuesday, January 6th were paid a $2.00 dividend. The ex-dividend date was Tuesday, January 6th. This represents a dividend yield of 134.0%. Landstar System’s dividend payout ratio (DPR) is presently 40.82%.

About Landstar System

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.