Lord Abbett & CO. LLC Has $37.82 Million Stock Holdings in Landstar System, Inc. $LSTR

Key Points

• Lord Abbett & CO. LLC reduced its stake in Landstar System, Inc. by 8.3% to 251,764 shares, valued at approximately $37.82 million.
• The company's recent quarterly earnings report showed an EPS of $1.20, exceeding expectations, but revenue saw a 1.1% decline year-over-year.
• Landstar System announced a quarterly dividend of $0.40 per share, representing an annualized yield of 1.2%.

Lord Abbett & CO. LLC decreased its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 8.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,764 shares of the transportation company's stock after selling 22,907 shares during the period. Lord Abbett & CO. LLC owned approximately 0.72% of Landstar System worth $37,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently modified their holdings of the company. Colonial Trust Co SC boosted its holdings in Landstar System by 61.7% in the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock worth $32,000 after buying an additional 71 shares during the last quarter. First Horizon Advisors Inc. raised its position in shares of Landstar System by 35.3% during the 1st quarter. First Horizon Advisors Inc. now owns 322 shares of the transportation company's stock valued at $48,000 after buying an additional 84 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Landstar System by 2.8% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,099 shares of the transportation company's stock valued at $465,000 after purchasing an additional 85 shares during the period. State of Michigan Retirement System raised its position in Landstar System by 1.2% in the first quarter. State of Michigan Retirement System now owns 8,470 shares of the transportation company's stock valued at $1,272,000 after purchasing an additional 100 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in Landstar System by 1.0% in the first quarter. Louisiana State Employees Retirement System now owns 9,900 shares of the transportation company's stock valued at $1,487,000 after purchasing an additional 100 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

Landstar System Stock Performance

Landstar System stock traded up $3.4520 during midday trading on Tuesday, reaching $132.2020. 286,886 shares of the stock traded hands, compared to its average volume of 370,065. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm has a fifty day moving average price of $137.22 and a two-hundred day moving average price of $142.99. The firm has a market cap of $4.58 billion, a price-to-earnings ratio of 27.72 and a beta of 0.86. Landstar System, Inc. has a fifty-two week low of $123.43 and a fifty-two week high of $196.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $1.16 by $0.04. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Landstar System had a net margin of 3.51% and a return on equity of 17.49%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.48 EPS. On average, equities research analysts forecast that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. Susquehanna set a $123.00 target price on shares of Landstar System and gave the company a "neutral" rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. cut their price target on shares of Landstar System from $139.00 to $138.00 and set a "neutral" rating for the company in a report on Tuesday, July 8th. TD Cowen dropped their target price on shares of Landstar System from $141.00 to $135.00 and set a "hold" rating for the company in a report on Wednesday, July 30th. Finally, UBS Group decreased their target price on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Landstar System presently has an average rating of "Hold" and a consensus target price of $145.17.

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.