Landstar System, Inc. (NASDAQ:LSTR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its position in Landstar System, Inc. (NASDAQ:LSTR) by 5.4% during the first quarter, according to its most recent filing with the Securities and 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.

A number of other hedge funds and other institutional investors have also modified their holdings of LSTR. Jones Financial Companies Lllp raised its holdings in shares of Landstar System by 225.5% in the 4th quarter. Jones Financial Companies Lllp now owns 895 shares of the transportation company’s stock valued at $154,000 after purchasing an additional 620 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Landstar System in the 4th quarter valued at $8,463,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Landstar System by 14.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,147 shares of the transportation company’s stock valued at $1,572,000 after buying an additional 1,157 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Landstar System by 4.5% in the 4th quarter. HighTower Advisors LLC now owns 12,343 shares of the transportation company’s stock valued at $2,121,000 after buying an additional 537 shares during the last quarter. Finally, Hilton Capital Management LLC grew its position in shares of Landstar System by 4.5% in the 4th quarter. Hilton Capital Management LLC now owns 7,878 shares of the transportation company’s stock valued at $1,354,000 after buying an additional 338 shares during the last quarter. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. UBS Group set a $154.00 target price on shares of Landstar System in a research report on Wednesday, May 14th. Stifel Nicolaus dropped their target price 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. Susquehanna reaffirmed a “neutral” rating and issued a $125.00 target price (up from $120.00) on shares of Landstar System in a research report on Tuesday, June 24th. Baird R W raised shares of Landstar System to a “strong-buy” rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen downgraded shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Saturday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $151.31.

Landstar System Stock Down 1.7%

Shares of NASDAQ:LSTR opened at $143.26 on Friday. The company has a market cap of $5.01 billion, a price-to-earnings ratio of 28.37 and a beta of 0.88. The firm’s 50-day simple moving average is $139.98 and its 200-day simple moving average is $150.15. The company has a quick ratio of 2.03, a current ratio of 2.03 and a debt-to-equity ratio of 0.07. Landstar System, Inc. has a fifty-two week low of $128.99 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR) last issued its earnings results on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). The firm 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%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm earned $1.32 EPS. As a group, equities research analysts predict that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th were issued a $0.40 dividend. This is an increase from Landstar System’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, June 5th. This represents a $1.60 annualized dividend and a dividend yield of 1.12%. Landstar System’s payout ratio is presently 31.68%.

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.