Copeland Capital Management LLC Sells 19,383 Shares of Landstar System, Inc. $LSTR

Key Points

• Copeland Capital Management trimmed its position in Landstar by 4.8%, selling 19,383 shares and leaving 381,235 shares — about 1.11% ownership worth $54.78 million and representing 1.2% of Copeland's portfolio.
• Analysts have a consensus rating of "Hold" with an average price target of $155.55, though recent notes were mixed (Wells Fargo upgraded to overweight with a $170 target while Susquehanna and JPMorgan raised targets to $185 and $162, respectively).
• Landstar trades near its 52-week high at $179.90 (market cap $6.11B, P/E 54.35) and is highly institutionally owned — about 97.95% of shares are held by hedge funds and other institutional investors.

Copeland Capital Management LLC trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 381,235 shares of the transportation company's stock after selling 19,383 shares during the period. Landstar System comprises 1.2% of Copeland Capital Management LLC's investment portfolio, making the stock its 29th largest position. Copeland Capital Management LLC owned 1.11% of Landstar System worth $54,784,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LSTR. Quarry LP purchased a new position in shares of Landstar System during the 3rd quarter valued at about $25,000. UMB Bank n.a. raised its holdings in shares of Landstar System by 335.8% during the 3rd quarter. UMB Bank n.a. now owns 292 shares of the transportation company's stock valued at $36,000 after buying an additional 225 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock valued at $37,000 after buying an additional 142 shares in the last quarter. Caitong International Asset Management Co. Ltd raised its holdings in shares of Landstar System by 1,490.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 318 shares of the transportation company's stock valued at $39,000 after buying an additional 298 shares in the last quarter. Finally, Private Trust Co. NA raised its holdings in shares of Landstar System by 81.0% during the 4th quarter. Private Trust Co. NA now owns 277 shares of the transportation company's stock valued at $40,000 after buying an additional 124 shares in the last quarter. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Price Performance

Shares of Landstar System stock opened at $179.90 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75. The business's 50 day simple moving average is $158.33 and its two-hundred day simple moving average is $146.25. The stock has a market capitalization of $6.11 billion, a P/E ratio of 54.35 and a beta of 0.80. Landstar System, Inc. has a one year low of $119.32 and a one year high of $181.84.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LSTR shares. Benchmark reissued a "hold" rating on shares of Landstar System in a report on Thursday, January 29th. JPMorgan Chase & Co. lifted their price target on Landstar System from $134.00 to $162.00 and gave the stock a "neutral" rating in a research note on Monday, January 12th. Susquehanna lifted their price target on Landstar System from $160.00 to $185.00 and gave the stock a "neutral" rating in a research note on Wednesday. Wells Fargo & Company raised Landstar System from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $145.00 to $170.00 in a research note on Tuesday, January 6th. Finally, Truist Financial decreased their price target on Landstar System from $150.00 to $145.00 and set a "hold" rating on the stock in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Landstar System currently has a consensus rating of "Hold" and an average price target of $155.55.

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.

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