Harbor Capital Advisors Inc. Boosts Holdings in Landstar System, Inc. (NASDAQ:LSTR)

Harbor Capital Advisors Inc. grew its position in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 111.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,751 shares of the transportation company's stock after purchasing an additional 4,606 shares during the period. Harbor Capital Advisors Inc.'s holdings in Landstar System were worth $1,653,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in LSTR. Fidelis Capital Partners LLC purchased a new stake in shares of Landstar System in the first quarter valued at about $86,000. Rehmann Capital Advisory Group increased its holdings in Landstar System by 8.7% during the first quarter. Rehmann Capital Advisory Group now owns 2,695 shares of the transportation company's stock worth $520,000 after buying an additional 215 shares during the last quarter. Valley Wealth Managers Inc. increased its holdings in Landstar System by 22.4% during the first quarter. Valley Wealth Managers Inc. now owns 1,759 shares of the transportation company's stock worth $339,000 after buying an additional 322 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in Landstar System by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 31,460 shares of the transportation company's stock worth $6,064,000 after buying an additional 408 shares during the last quarter. Finally, Gallacher Capital Management LLC purchased a new stake in Landstar System during the first quarter worth about $211,000. Hedge funds and other institutional investors own 97.95% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on LSTR. JPMorgan Chase & Co. raised their price objective on shares of Landstar System from $184.00 to $188.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Raymond James decreased their price objective on shares of Landstar System from $205.00 to $195.00 and set an "outperform" rating for the company in a report on Wednesday, July 31st. Susquehanna cut their target price on shares of Landstar System from $165.00 to $160.00 and set a "neutral" rating for the company in a research report on Friday, November 1st. TD Cowen cut their target price on shares of Landstar System from $176.00 to $174.00 and set a "hold" rating for the company in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their target price on shares of Landstar System from $165.00 to $158.00 and set a "sell" rating for the company in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $174.25.

Landstar System Price Performance

Shares of LSTR stock traded up $10.85 during trading hours on Wednesday, reaching $191.61. The stock had a trading volume of 258,180 shares, compared to its average volume of 255,938. The stock's fifty day simple moving average is $182.97 and its 200 day simple moving average is $182.73. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. Landstar System, Inc. has a 12 month low of $165.39 and a 12 month high of $201.40. The firm has a market capitalization of $6.77 billion, a PE ratio of 32.87 and a beta of 0.81.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing analysts' consensus estimates of $1.45 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to analysts' expectations of $1.22 billion. Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The company's revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.71 earnings per share. On average, equities research analysts predict that Landstar System, Inc. will post 5.61 EPS for the current year.

Landstar System Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Tuesday, November 19th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date is Tuesday, November 19th. Landstar System's dividend payout ratio is currently 24.70%.

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.