BNP Paribas Financial Markets Sells 45,828 Shares of Landstar System, Inc. (NASDAQ:LSTR)

BNP Paribas Financial Markets trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 83.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,220 shares of the transportation company's stock after selling 45,828 shares during the period. BNP Paribas Financial Markets' holdings in Landstar System were worth $1,585,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of LSTR. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Landstar System by 16.1% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock valued at $646,985,000 after purchasing an additional 521,695 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Landstar System by 0.7% during the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock valued at $278,673,000 after purchasing an additional 11,146 shares during the last quarter. Geode Capital Management LLC boosted its stake in Landstar System by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock valued at $140,602,000 after purchasing an additional 4,392 shares during the last quarter. Northern Trust Corp boosted its stake in Landstar System by 15.6% during the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after purchasing an additional 90,672 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Landstar System by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock valued at $106,184,000 after purchasing an additional 9,190 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on LSTR. Jefferies Financial Group cut their target price on Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, April 11th. Truist Financial decreased their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus cut their target price on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating for the company in a research report on Wednesday, May 14th. TD Cowen lowered their price objective on Landstar System from $161.00 to $145.00 and set a "hold" rating for the company in a research report on Thursday, April 3rd. Finally, Evercore ISI lowered their price objective on Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a research report on Wednesday, May 14th. Two investment analysts have rated the stock with a sell rating and thirteen have assigned a hold rating to the company's stock. According to data from MarketBeat, Landstar System presently has a consensus rating of "Hold" and a consensus price target of $150.42.

Landstar System Trading Down 0.9%

Shares of Landstar System stock traded down $1.31 during trading on Friday, reaching $137.01. 219,777 shares of the stock were exchanged, compared to its average volume of 294,408. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. The firm has a market cap of $4.79 billion, a price-to-earnings ratio of 24.82 and a beta of 0.92. The stock's fifty day moving average is $140.25 and its 200 day moving average is $160.69. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. During the same period in the previous year, the company earned $1.32 earnings per share. Landstar System's revenue for the quarter was down 1.6% on a year-over-year basis. As a group, equities research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be paid a dividend of $0.40 per share. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a yield of 1.17%. Landstar System's payout ratio is presently 31.68%.

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.