Mountain Pacific Investment Advisers LLC Cuts Stake 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 the company in its most recent disclosure with the SEC. The firm owned 186,967 shares of the transportation company's stock after selling 2,136 shares during the quarter. Landstar System comprises 2.1% of Mountain Pacific Investment Advisers LLC's portfolio, making the stock its 18th largest position. Mountain Pacific Investment Advisers LLC owned about 0.54% of Landstar System worth $28,082,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC lifted its position in Landstar System by 16.1% during the fourth 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 buying an additional 521,695 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Landstar System in the fourth quarter worth $63,816,000. Norges Bank purchased a new position in shares of Landstar System in the 4th quarter valued at $54,088,000. Reinhart Partners LLC. acquired a new position in shares of Landstar System during the 1st quarter valued at $42,887,000. Finally, Corient Private Wealth LLC boosted its position in Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after purchasing an additional 271,417 shares during the period. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Performance

Shares of Landstar System stock opened at $137.62 on Monday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. Landstar System, Inc. has a 1 year low of $128.99 and a 1 year high of $196.86. The firm's 50-day simple moving average is $138.37 and its 200-day simple moving average is $155.64. The firm has a market cap of $4.81 billion, a PE ratio of 24.93 and a beta of 0.88.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced 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 firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The company's quarterly revenue was down 1.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.32 EPS. Equities analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be issued a $0.40 dividend. The ex-dividend date is 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 dividend yield of 1.16%. Landstar System's payout ratio is 31.68%.

Wall Street Analyst Weigh In

A number of brokerages have commented on LSTR. JPMorgan Chase & Co. reduced their price objective on Landstar System from $177.00 to $147.00 and set a "neutral" rating on the stock in a research note on Thursday, April 3rd. Barclays began coverage on Landstar System in a research report on Monday, June 9th. They set an "equal weight" rating and a $145.00 price target on the stock. Jefferies Financial Group lowered their price objective on shares of Landstar System from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, April 11th. Susquehanna dropped their price objective on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Evercore ISI decreased their target price on shares of Landstar System from $137.00 to $136.00 and set an "in-line" rating for the company in a research note on Wednesday, May 14th. Two equities research analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to MarketBeat, Landstar System currently has a consensus rating of "Hold" and a consensus price target of $150.00.

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.

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