BNP Paribas Financial Markets Has $1.59 Million Stock Holdings in Landstar System, Inc. (NASDAQ:LSTR)

BNP Paribas Financial Markets trimmed its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 83.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,220 shares of the transportation company’s stock after selling 45,828 shares during the period. BNP Paribas Financial Markets’ holdings in Landstar System were worth $1,585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of 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 worth $646,985,000 after acquiring an additional 521,695 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Landstar System by 0.7% during the fourth quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company’s stock worth $278,673,000 after acquiring an additional 11,146 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Landstar System by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company’s stock worth $140,602,000 after acquiring an additional 4,392 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Landstar System by 15.6% during the fourth quarter. Northern Trust Corp now owns 672,779 shares of the transportation company’s stock worth $115,624,000 after acquiring an additional 90,672 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Landstar System by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company’s stock worth $106,184,000 after acquiring an additional 9,190 shares in the last quarter. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LSTR has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price objective on Landstar System from $177.00 to $147.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Evercore ISI cut their price objective on Landstar System from $137.00 to $136.00 and set an “in-line” rating for the company in a report on Wednesday, May 14th. Truist Financial lowered their target price 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 cut their target price on Landstar System from $147.00 to $140.00 and set a “hold” rating on the stock in a report on Wednesday, May 14th. Finally, Benchmark restated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. One analyst has rated the stock with a sell rating and thirteen have assigned a hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $153.08.

Landstar System Price Performance

Shares of NASDAQ:LSTR opened at $145.09 on Monday. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 26.28 and a beta of 0.92. The business has a 50 day moving average price of $141.22 and a 200 day moving average price of $162.00. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a twelve month low of $128.99 and a twelve month high of $196.86.

Landstar System (NASDAQ:LSTR) 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 19.56% and a net margin of 4.07%. The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $1.32 earnings per share. The firm’s quarterly revenue was down 1.6% compared to the same quarter last year. Research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 24th. Investors of record on Thursday, June 5th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, June 5th. This is a boost from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s dividend payout ratio (DPR) is presently 31.68%.

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.