M&T Bank Corp Sells 192 Shares of Landstar System, Inc. (NASDAQ:LSTR)

M&T Bank Corp decreased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 4.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,151 shares of the transportation company’s stock after selling 192 shares during the quarter. M&T Bank Corp’s holdings in Landstar System were worth $623,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. lifted its stake in Landstar System by 120.7% in the fourth quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock valued at $28,408,000 after buying an additional 90,391 shares in the last quarter. Golden State Wealth Management LLC lifted its position in shares of Landstar System by 106.2% in the first quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after purchasing an additional 154 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Landstar System by 0.3% in the first quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock worth $12,203,000 after purchasing an additional 213 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Landstar System by 31.7% in the first quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock worth $1,225,000 after purchasing an additional 1,961 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Landstar System in the first quarter worth $948,000. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Down 2.5%

Landstar System stock opened at $136.47 on Wednesday. Landstar System, Inc. has a twelve month low of $128.99 and a twelve month high of $196.86. The stock’s fifty day simple moving average is $140.16 and its 200-day simple moving average is $149.65. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $4.77 billion, a P/E ratio of 27.02 and a beta of 0.88.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings results 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). Landstar System had a net margin of 3.72% and a return on equity of 18.23%. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the firm earned $1.32 EPS. The business’s revenue was down 1.6% on a year-over-year basis. As a group, equities analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, June 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s dividend payout ratio (DPR) is 31.68%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Landstar System from a “hold” rating to a “sell” rating in a research report on Saturday. 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. UBS Group set a $154.00 price target on shares of Landstar System in a research report on Wednesday, May 14th. Benchmark reiterated a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Landstar System from $139.00 to $138.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Landstar System currently has a consensus rating of “Hold” and a consensus target price of $151.31.

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.