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

Mountain Pacific Investment Advisers LLC lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 5.5% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 55,169 shares of the transportation company’s stock after selling 3,195 shares during the period. Landstar System makes up approximately 1.5% of Mountain Pacific Investment Advisers LLC’s portfolio, making the stock its 22nd biggest holding. Mountain Pacific Investment Advisers LLC owned 0.16% of Landstar System worth $8,844,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vestmark Advisory Solutions Inc. lifted its holdings in Landstar System by 0.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 20,585 shares of the transportation company’s stock worth $2,523,000 after acquiring an additional 78 shares during the period. CIBC Private Wealth Group LLC grew 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 valued at $49,000 after purchasing an additional 78 shares during the period. SkyView Investment Advisors LLC grew its stake in Landstar System by 1.4% in the 4th quarter. SkyView Investment Advisors LLC now owns 6,388 shares of the transportation company’s stock valued at $918,000 after purchasing an additional 89 shares during the period. Huntington National Bank increased its position in shares of 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 purchasing an additional 100 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of Landstar System by 14.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 814 shares of the transportation company’s stock valued at $117,000 after purchasing an additional 100 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on LSTR. Truist Financial lifted their target price on Landstar System from $145.00 to $190.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. UBS Group increased their price target on shares of Landstar System from $147.00 to $185.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Robert W. Baird raised their price objective on shares of Landstar System from $195.00 to $225.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Susquehanna lifted their price objective on shares of Landstar System from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. 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 analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $185.91.

Insider Activity

In other Landstar System news, Director Diana M. Murphy sold 11,246 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $221.28, for a total transaction of $2,488,514.88. Following the completion of the transaction, the director owned 18,853 shares in the company, valued at $4,171,791.84. This trade represents a 37.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO James P. Todd sold 1,200 shares of Landstar System stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $218.17, for a total transaction 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.74% of the stock is owned by corporate insiders.

Landstar System Stock Performance

NASDAQ:LSTR opened at $207.40 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.88 and a quick ratio of 1.88. The business has a fifty day simple moving average of $192.21 and a two-hundred day simple moving average of $165.57. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $228.46. The company has a market capitalization of $7.04 billion, a P/E ratio of 57.29 and a beta of 0.88.

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

Landstar System Announces Dividend

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

Landstar System declared that its board has approved a stock buyback program on Tuesday, April 28th that allows the company to repurchase 1,115,195,000,000 shares. This repurchase authorization allows the transportation company to purchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.