Lord Abbett & CO. LLC boosted its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 116.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 274,671 shares of the transportation company's stock after purchasing an additional 147,756 shares during the period. Lord Abbett & CO. LLC owned about 0.78% of Landstar System worth $47,205,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Landstar System by 16.1% in the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,764,603 shares of the transportation company's stock valued at $646,985,000 after buying an additional 521,695 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Landstar System during the 4th quarter worth $63,816,000. Norges Bank acquired a new position in shares of Landstar System during the 4th quarter worth $54,088,000. Corient Private Wealth LLC grew its stake in shares of Landstar System by 1,207.3% during the 4th quarter. Corient Private Wealth LLC now owns 293,899 shares of the transportation company's stock worth $50,509,000 after purchasing an additional 271,417 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Landstar System by 28.9% in the 4th quarter. First Trust Advisors LP now owns 526,000 shares of the transportation company's stock valued at $90,398,000 after purchasing an additional 117,961 shares in the last quarter. Hedge funds and other institutional investors own 97.95% of the company's stock.
Landstar System Stock Down 3.5 %
LSTR stock opened at $135.00 on Friday. The company has a 50 day moving average price of $147.24 and a two-hundred day moving average price of $167.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.21 and a current ratio of 1.96. The stock has a market capitalization of $4.72 billion, a P/E ratio of 24.46 and a beta of 0.88. Landstar System, Inc. has a one year low of $128.99 and a one year high of $196.86.
Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Wednesday, January 29th. The transportation company reported $1.31 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%. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.1 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on LSTR. Jefferies Financial Group lowered 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 report on Friday, April 11th. Benchmark restated a "hold" rating on shares of Landstar System in a report on Monday, April 14th. Stifel Nicolaus reduced their price objective on Landstar System from $162.00 to $147.00 and set a "hold" rating for the company in a report on Monday, April 14th. TD Cowen decreased their target price on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a research report on Thursday, April 3rd. Finally, Truist Financial dropped their price target on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research report on Thursday. One analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to MarketBeat, Landstar System has an average rating of "Hold" and a consensus price target of $155.67.
Read Our Latest Research Report on Landstar System
Landstar System Profile
(
Free Report)
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.
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