Bank of New York Mellon Corp Reduces Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Bank of New York Mellon Corp lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 5.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 367,940 shares of the transportation company's stock after selling 21,079 shares during the period. Bank of New York Mellon Corp owned approximately 1.05% of Landstar System worth $55,264,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LSTR. Alpine Bank Wealth Management acquired a new position in Landstar System during the first quarter valued at approximately $25,000. Colonial Trust Co SC increased its holdings in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after purchasing an additional 71 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Landstar System by 106.2% during the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company's stock valued at $45,000 after purchasing an additional 154 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Landstar System by 35.3% during the first quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Finally, BOKF NA grew its holdings in shares of Landstar System by 56.1% during the fourth quarter. BOKF NA now owns 348 shares of the transportation company's stock worth $58,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Stock Performance

LSTR stock traded down $3.26 during mid-day trading on Monday, hitting $140.00. The company had a trading volume of 325,561 shares, compared to its average volume of 362,856. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.03 and a current ratio of 2.03. The stock's fifty day moving average price is $139.98 and its two-hundred day moving average price is $149.98. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86. The firm has a market cap of $4.89 billion, a PE ratio of 27.72 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last posted 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 18.23% and a net margin of 3.72%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the company posted $1.32 EPS. The firm's revenue was down 1.6% compared to the same quarter last year. On average, analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were given a dividend of $0.40 per share. The ex-dividend date was Thursday, June 5th. This is a boost from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a dividend yield of 1.14%. Landstar System's dividend payout ratio is currently 31.68%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Benchmark restated a "hold" rating on shares of Landstar System in a research report on Monday, April 14th. UBS Group set a $154.00 target price on shares of Landstar System in a report on Wednesday, May 14th. Robert W. Baird started coverage on shares of Landstar System in a research report on Tuesday, July 1st. They set an "outperform" rating and a $166.00 price target on the stock. Truist Financial lowered their price objective on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday, April 24th. Finally, Baird R W raised Landstar System to a "strong-buy" rating in a research note on Tuesday, July 1st. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, one has given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Landstar System has a consensus rating of "Hold" and a consensus target price of $151.31.

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.