Lord Abbett & CO. LLC Has $37.82 Million Stock Position in Landstar System, Inc. (NASDAQ:LSTR)

Lord Abbett & CO. LLC lowered its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 8.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 251,764 shares of the transportation company’s stock after selling 22,907 shares during the quarter. Lord Abbett & CO. LLC owned 0.72% of Landstar System worth $37,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LSTR. Ameriprise Financial Inc. lifted its position in shares of Landstar System by 120.7% in the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock worth $28,408,000 after acquiring an additional 90,391 shares during the period. Principal Financial Group Inc. lifted its position in shares of Landstar System by 0.3% in the 1st quarter. Principal Financial Group Inc. now owns 81,244 shares of the transportation company’s stock worth $12,203,000 after acquiring an additional 213 shares during the period. Golden State Wealth Management LLC lifted its position in shares of Landstar System by 106.2% in the 1st quarter. Golden State Wealth Management LLC now owns 299 shares of the transportation company’s stock worth $45,000 after acquiring an additional 154 shares during the period. Brown Advisory Inc. lifted its position in shares of Landstar System by 31.7% in the 1st quarter. Brown Advisory Inc. now owns 8,156 shares of the transportation company’s stock worth $1,225,000 after acquiring an additional 1,961 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Landstar System by 1.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,786 shares of the transportation company’s stock worth $29,707,000 after acquiring an additional 2,318 shares during the period. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Price Performance

Landstar System stock opened at $131.07 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.00 and a current ratio of 2.00. The firm has a market cap of $4.54 billion, a P/E ratio of 27.48 and a beta of 0.86. The business’s fifty day moving average is $137.67 and its two-hundred day moving average is $143.93. Landstar System, Inc. has a 52 week low of $123.43 and a 52 week high of $196.86.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings data on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a return on equity of 17.49% and a net margin of 3.51%. The firm’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.48 earnings per share. Equities research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, August 19th. Landstar System’s payout ratio is presently 33.54%.

Analysts Set New Price Targets

A number of brokerages have commented on LSTR. JPMorgan Chase & Co. reduced their price objective on Landstar System from $139.00 to $138.00 and set a “neutral” rating for the company in a research report on Tuesday, July 8th. Susquehanna set a $123.00 target price on Landstar System and gave the stock a “neutral” rating in a research report on Wednesday, July 30th. TD Cowen cut their target price on Landstar System from $141.00 to $135.00 and set a “hold” rating for the company in a research report on Wednesday, July 30th. Truist Financial cut their target price on Landstar System from $150.00 to $135.00 and set a “hold” rating for the company in a research report on Thursday, April 24th. Finally, Baird R W upgraded Landstar System to a “strong-buy” rating in a research report on Tuesday, July 1st. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $145.17.

Landstar System 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.