M&T Bank Corp Has $904.50 Million Holdings in Landstar System, Inc. $LSTR

M&T Bank Corp increased its holdings in shares of Landstar System, Inc. (NASDAQ:LSTR) by 151,424.4% in the fourth quarter, according to the company in its most recent 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 quarter. Landstar System accounts for 2.7% of M&T Bank Corp’s holdings, making the stock its 5th biggest position. M&T Bank Corp owned approximately 0.18% of Landstar System worth $904,495,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of LSTR. Integrated Wealth Concepts LLC increased its stake in Landstar System by 9.8% during the 1st quarter. Integrated Wealth Concepts LLC now owns 3,767 shares of the transportation company’s stock worth $566,000 after purchasing an additional 336 shares in the last quarter. Goldman Sachs Group Inc. boosted 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 acquiring an additional 50,142 shares during the last quarter. Empowered Funds LLC boosted 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 acquiring an additional 1,298 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted 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 acquiring an additional 16,698 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted 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 acquiring an additional 142 shares during the last quarter. 97.95% of the stock is owned by institutional investors.

Landstar System Trading Up 0.7%

Shares of Landstar System stock opened at $178.74 on Wednesday. The business has a fifty day simple moving average of $157.18 and a two-hundred day simple moving average of $145.80. Landstar System, Inc. has a 1 year low of $119.32 and a 1 year high of $181.23. The company has a market capitalization of $6.07 billion, a price-to-earnings ratio of 54.00 and a beta of 0.80. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.75 and a quick ratio of 1.75.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on LSTR shares. Weiss Ratings downgraded Landstar System from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, April 14th. Barclays upped their price target on Landstar System from $130.00 to $155.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 15th. TD Cowen reissued a “hold” rating on shares of Landstar System in a report on Friday, January 9th. JPMorgan Chase & Co. increased their price objective on Landstar System from $134.00 to $162.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Finally, Susquehanna increased their price objective on Landstar System from $110.00 to $160.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Landstar System has a consensus rating of “Hold” and a consensus target price of $153.27.

Landstar System Company Profile

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.