M&T Bank Corp Purchases 6,290,171 Shares of Landstar System, Inc. $LSTR

Key Points

• M&T Bank Corp dramatically increased its stake in Landstar, buying 6,290,171 shares in Q4 to own 6,294,325 shares (about 18.32% of the company), a $904.5M position that makes it the bank's 5th‑largest holding.
• Institutional investors control 97.95% of Landstar's stock, with other major firms like Goldman Sachs and UBS also recently boosting their positions, underscoring heavy institutional concentration.
• Analysts have an average rating of "Hold" with a mean price target of $153.27, while the stock trades around $178.74 (market cap ~$6.07B, PE 54), meaning the market price is trading above analyst consensus.

M&T Bank Corp grew its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 151,424.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,294,325 shares of the transportation company's stock after purchasing an additional 6,290,171 shares during the period. Landstar System comprises approximately 2.7% of M&T Bank Corp's holdings, making the stock its 5th biggest holding. M&T Bank Corp owned about 18.32% of Landstar System worth $904,495,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in LSTR. Integrated Wealth Concepts LLC boosted its stake in shares of Landstar System by 9.8% in the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company's stock valued at $566,000 after purchasing an additional 336 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Landstar System by 57.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 138,009 shares of the transportation company's stock worth $20,729,000 after buying an additional 50,142 shares in the last quarter. Empowered Funds LLC lifted its position in Landstar System by 38.3% during the 1st quarter. Empowered Funds LLC now owns 4,687 shares of the transportation company's stock worth $704,000 after buying an additional 1,298 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Landstar System by 13.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 142,341 shares of the transportation company's stock worth $21,380,000 after buying an additional 16,698 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in Landstar System by 132.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the transportation company's stock worth $37,000 after buying an additional 142 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company's stock.

Landstar System Stock Performance

Shares of LSTR stock opened at $178.74 on Wednesday. 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 stock has a market cap of $6.07 billion, a PE ratio of 54.00 and a beta of 0.80. The stock has a 50-day moving average of $157.18 and a 200-day moving average of $145.80. Landstar System, Inc. has a one year low of $119.32 and a one year high of $181.23.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Benchmark reiterated a "hold" rating on shares of Landstar System in a research report on Thursday, January 29th. Wells Fargo & Company upgraded shares of Landstar System from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $145.00 to $170.00 in a research report on Tuesday, January 6th. Weiss Ratings downgraded shares of Landstar System from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, April 14th. Evercore upped their target price on shares of Landstar System from $125.00 to $151.00 and gave the company an "in-line" rating in a research report on Monday, January 12th. Finally, Robert W. Baird set a $164.00 target price on shares of Landstar System in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $153.27.

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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