Mountain Pacific Investment Advisers LLC Sells 3,195 Shares of Landstar System, Inc. $LSTR

Mountain Pacific Investment Advisers LLC cut its stake in Landstar System, Inc. (NASDAQ:LSTR) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 55,169 shares of the transportation company’s stock after selling 3,195 shares during the quarter. Landstar System comprises about 1.5% of Mountain Pacific Investment Advisers LLC’s holdings, making the stock its 22nd largest position. Mountain Pacific Investment Advisers LLC’s holdings in Landstar System were worth $8,844,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vestmark Advisory Solutions Inc. lifted its holdings in Landstar System by 0.4% during the 3rd quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after purchasing an additional 78 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Landstar System by 29.5% in the 4th quarter. CIBC Private Wealth Group LLC now owns 342 shares of the transportation company’s stock worth $49,000 after purchasing an additional 78 shares during the period. SkyView Investment Advisors LLC grew its holdings in Landstar System by 1.4% during the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after buying an additional 89 shares in the last quarter. Huntington National Bank grew its holdings in Landstar System by 9.7% during the 3rd quarter. Huntington National Bank now owns 1,129 shares of the transportation company’s stock valued at $138,000 after buying an additional 100 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Landstar System by 14.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 814 shares of the transportation company’s stock valued at $117,000 after buying an additional 100 shares during the period. 97.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Diana M. Murphy sold 11,246 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $221.28, for a total value of $2,488,514.88. Following the completion of the transaction, the director directly owned 18,853 shares in the company, valued at approximately $4,171,791.84. This represents a 37.36% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO James P. Todd sold 1,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total value of $261,804.00. Following the completion of the transaction, the chief financial officer owned 15,122 shares of the company’s stock, valued at $3,299,166.74. The trade was a 7.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.74% of the company’s stock.

Landstar System Stock Performance

Landstar System stock opened at $207.40 on Monday. The firm’s fifty day moving average price is $192.21 and its 200-day moving average price is $165.57. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.88 and a current ratio of 1.88. The stock has a market cap of $7.04 billion, a P/E ratio of 57.29 and a beta of 0.88. Landstar System, Inc. has a fifty-two week low of $119.32 and a fifty-two week high of $228.46.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, April 28th. The transportation company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. Landstar System had a net margin of 2.62% and a return on equity of 19.49%. The company had revenue of $1.17 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the previous year, the firm posted $0.95 EPS. The firm’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System announced that its Board of Directors has initiated a stock buyback program on Tuesday, April 28th that permits the company to repurchase 1,115,195,000,000 shares. This repurchase authorization permits the transportation company to buy up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Landstar System Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 9th. Shareholders of record on Tuesday, May 19th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $1.60 annualized dividend and a yield of 0.8%. Landstar System’s payout ratio is 44.20%.

Wall Street Analyst Weigh In

LSTR has been the topic of a number of recent analyst reports. Stifel Nicolaus increased their price target on shares of Landstar System from $147.00 to $175.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Evercore set a $181.00 price objective on shares of Landstar System in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their target price on shares of Landstar System from $161.00 to $179.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Wall Street Zen cut shares of Landstar System from a “buy” rating to a “hold” rating in a research note on Saturday, May 30th. Finally, Weiss Ratings upgraded shares of Landstar System from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, June 16th. Two research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.91.

Landstar System Profile

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.