Mountain Pacific Investment Advisers LLC Trims Stake in Landstar System, Inc. (NASDAQ:LSTR)

Mountain Pacific Investment Advisers LLC decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 1.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 189,103 shares of the transportation company’s stock after selling 2,763 shares during the period. Landstar System accounts for 2.3% of Mountain Pacific Investment Advisers LLC’s portfolio, making the stock its 15th largest position. Mountain Pacific Investment Advisers LLC’s holdings in Landstar System were worth $32,499,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LSTR. Trust Co. of Vermont bought a new position in Landstar System in the 4th quarter valued at $34,000. Harbor Capital Advisors Inc. boosted its stake in shares of Landstar System by 1.3% during the fourth quarter. Harbor Capital Advisors Inc. now owns 8,865 shares of the transportation company’s stock valued at $1,524,000 after purchasing an additional 114 shares during the period. Fulton Bank N.A. grew its holdings in shares of Landstar System by 10.8% in the fourth quarter. Fulton Bank N.A. now owns 2,100 shares of the transportation company’s stock worth $361,000 after purchasing an additional 204 shares during the last quarter. Franklin Resources Inc. increased its stake in Landstar System by 28.1% in the 3rd quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company’s stock worth $11,000,000 after buying an additional 12,756 shares during the period. Finally, Tidal Investments LLC lifted its holdings in Landstar System by 9.3% during the 3rd quarter. Tidal Investments LLC now owns 10,053 shares of the transportation company’s stock valued at $1,899,000 after buying an additional 857 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Price Performance

LSTR opened at $174.23 on Tuesday. The firm has a market capitalization of $6.16 billion, a PE ratio of 29.89 and a beta of 0.83. The business’s 50-day moving average is $178.94 and its two-hundred day moving average is $182.39. Landstar System, Inc. has a 1 year low of $164.04 and a 1 year high of $200.43. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.71 EPS. Research analysts anticipate that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. The ex-dividend date of this dividend is Tuesday, January 7th. This is a positive change from Landstar System’s previous special dividend of $1.50. Landstar System’s dividend payout ratio is currently 24.70%.

Insider Transactions at Landstar System

In related news, CFO James P. Todd sold 1,000 shares of the stock in a transaction that occurred on 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 trade represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LSTR shares. TD Cowen dropped their target price on shares of Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research note on Wednesday, October 30th. Susquehanna reduced their price objective on Landstar System from $165.00 to $160.00 and set a “neutral” rating on the stock in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. 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 research note on Wednesday, October 9th. Finally, Stephens lowered their price objective on shares of Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating and twelve have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $171.45.

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.