Bank of Montreal Can Lowers Stake in Landstar System, Inc. (NASDAQ:LSTR)

Bank of Montreal Can lessened its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 65.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,782 shares of the transportation company’s stock after selling 16,872 shares during the quarter. Bank of Montreal Can’s holdings in Landstar System were worth $1,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in Landstar System by 22.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 17,077 shares of the transportation company’s stock valued at $2,935,000 after buying an additional 3,150 shares in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Landstar System by 14.1% in the 4th quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company’s stock worth $927,000 after purchasing an additional 665 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Landstar System by 28.1% in the 3rd quarter. Franklin Resources Inc. now owns 58,177 shares of the transportation company’s stock worth $11,000,000 after purchasing an additional 12,756 shares during the last quarter. Boston Trust Walden Corp boosted its stake in Landstar System by 21.1% in the 4th quarter. Boston Trust Walden Corp now owns 277,520 shares of the transportation company’s stock worth $47,695,000 after purchasing an additional 48,312 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in Landstar System by 11.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,935 shares of the transportation company’s stock valued at $504,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 97.95% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on LSTR. Jefferies Financial Group dropped their target price on shares of Landstar System from $170.00 to $150.00 and set a “hold” rating on the stock in a research note on Friday, April 11th. Truist Financial lowered their price objective on Landstar System from $160.00 to $150.00 and set a “hold” rating on the stock in a research report on Thursday, April 3rd. Stifel Nicolaus decreased their price target on Landstar System from $162.00 to $147.00 and set a “hold” rating for the company in a research note on Monday. Benchmark reaffirmed a “hold” rating on shares of Landstar System in a report on Monday. Finally, TD Cowen decreased their target price on Landstar System from $161.00 to $145.00 and set a “hold” rating for the company in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating and thirteen have given a hold rating to the company’s stock. According to data from MarketBeat.com, Landstar System has a consensus rating of “Hold” and an average price target of $156.92.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $137.82 on Friday. Landstar System, Inc. has a 12-month low of $128.99 and a 12-month high of $196.86. The firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 24.97 and a beta of 0.88. The company has a current ratio of 1.96, a quick ratio of 2.21 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average of $150.10 and a 200 day moving average of $168.95.

Landstar System (NASDAQ:LSTR) last issued its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.04). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. On average, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 11th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.36 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.04%. Landstar System’s payout ratio is currently 26.09%.

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.