Bank of New York Mellon Corp Has $55.26 Million Holdings in Landstar System, Inc. (NASDAQ:LSTR)

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

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in Landstar System by 120.7% during the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company's stock worth $28,408,000 after buying an additional 90,391 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Landstar System by 0.3% during the 1st quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company's stock worth $12,203,000 after purchasing an additional 213 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in shares of Landstar System by 106.2% in the 1st 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 during the period. SG Americas Securities LLC bought a new stake in shares of Landstar System in the 1st quarter valued at about $948,000. Finally, Oppenheimer Asset Management Inc. bought a new position in Landstar System during the first quarter worth about $816,000. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Price Performance

Landstar System stock traded down $1.31 during mid-day trading on Wednesday, reaching $135.16. 443,504 shares of the company were exchanged, compared to its average volume of 306,890. The firm has a market cap of $4.72 billion, a PE ratio of 26.76 and a beta of 0.88. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.03 and a quick ratio of 2.03. The company has a fifty day simple moving average of $140.16 and a 200-day simple moving average of $149.65. Landstar System, Inc. has a 12 month low of $128.99 and a 12 month high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last issued its quarterly earnings results on Tuesday, May 13th. The transportation company reported $0.85 EPS for the quarter, missing analysts' consensus estimates of $0.92 by ($0.07). Landstar System had a return on equity of 18.23% and a net margin of 3.72%. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the previous year, the business posted $1.32 EPS. The firm'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 firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 24th. Investors of record on Thursday, June 5th were paid a $0.40 dividend. The ex-dividend date was Thursday, June 5th. This is a positive change from Landstar System's previous quarterly dividend of $0.36. This represents a $1.60 annualized dividend and a yield of 1.18%. Landstar System's dividend payout ratio (DPR) is 31.68%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on LSTR shares. UBS Group set a $154.00 price objective on Landstar System in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their price target on Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. Evercore ISI decreased their price objective on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a report on Wednesday, May 14th. Jefferies Financial Group dropped their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating on the stock in a research report on Friday, April 11th. Finally, Wall Street Zen downgraded shares of Landstar System from a "hold" rating to a "sell" rating in a report on Saturday. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently 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.