Mountain Pacific Investment Advisers LLC Reduces Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Mountain Pacific Investment Advisers LLC trimmed its stake in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 186,967 shares of the transportation company's stock after selling 2,136 shares during the quarter. Landstar System comprises about 2.1% of Mountain Pacific Investment Advisers LLC's holdings, making the stock its 18th biggest position. Mountain Pacific Investment Advisers LLC owned 0.54% of Landstar System worth $28,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. HM Payson & Co. bought a new position in shares of Landstar System in the fourth quarter valued at $26,000. Colonial Trust Co SC lifted its position in shares of Landstar System by 61.7% during the fourth quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. BOKF NA lifted its position in shares of Landstar System by 56.1% during the fourth quarter. BOKF NA now owns 348 shares of the transportation company's stock valued at $58,000 after purchasing an additional 125 shares in the last quarter. Transce3nd LLC bought a new position in shares of Landstar System during the fourth quarter valued at about $60,000. Finally, Versant Capital Management Inc lifted its position in shares of Landstar System by 151.0% during the first quarter. Versant Capital Management Inc now owns 517 shares of the transportation company's stock valued at $78,000 after purchasing an additional 311 shares in the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Trading Up 0.3%

Shares of Landstar System stock traded up $0.35 during trading on Thursday, hitting $137.14. The stock had a trading volume of 268,605 shares, compared to its average volume of 302,301. The firm's fifty day simple moving average is $138.35 and its 200-day simple moving average is $155.06. The stock has a market cap of $4.79 billion, a PE ratio of 27.16 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. 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 released its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.92 by ($0.07). The company had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.13 billion. Landstar System had a net margin of 3.72% and a return on equity of 18.23%. Landstar System's quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the firm earned $1.32 earnings per share. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on LSTR shares. Truist Financial dropped their price target on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Evercore ISI dropped their price target on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating on the stock in a research report on Wednesday, May 14th. JPMorgan Chase & Co. decreased their price objective on shares of Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a report on Thursday, April 3rd. Finally, Barclays started coverage on shares of Landstar System in a report on Monday, June 9th. They set an "equal weight" rating and a $145.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $150.00.

Landstar System 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.