Harbor Capital Advisors Inc. Acquires 3,249 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Harbor Capital Advisors Inc. lifted its position in Landstar System, Inc. (NASDAQ:LSTR) by 362.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,145 shares of the transportation company’s stock after acquiring an additional 3,249 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Landstar System were worth $765,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV boosted its holdings in Landstar System by 108.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 142 shares of the transportation company’s stock worth $26,000 after buying an additional 74 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Landstar System in the 1st quarter valued at about $27,000. SRS Capital Advisors Inc. boosted its position in Landstar System by 209.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 192 shares of the transportation company’s stock worth $37,000 after purchasing an additional 130 shares in the last quarter. Montag A & Associates Inc. purchased a new stake in shares of Landstar System in the fourth quarter valued at approximately $48,000. Finally, GAMMA Investing LLC acquired a new position in shares of Landstar System during the 4th quarter worth approximately $58,000. 97.95% of the stock is currently owned by hedge funds and other institutional investors.

Landstar System Stock Down 0.0 %

LSTR stock traded down $0.05 during mid-day trading on Wednesday, hitting $189.10. The stock had a trading volume of 156,602 shares, compared to its average volume of 271,772. Landstar System, Inc. has a 1-year low of $161.13 and a 1-year high of $201.40. The company has a fifty day moving average of $183.17 and a 200 day moving average of $184.72. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 29.10 and a beta of 0.80. The company has a current ratio of 2.17, a quick ratio of 2.22 and a debt-to-equity ratio of 0.05.

Landstar System (NASDAQ:LSTR) last announced its quarterly earnings results on Tuesday, July 30th. The transportation company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Landstar System had a net margin of 4.49% and a return on equity of 21.69%. The firm had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company earned $1.85 earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. On average, equities analysts expect that Landstar System, Inc. will post 6.1 EPS for the current fiscal year.

Landstar System Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 10th. Shareholders of record on Tuesday, August 20th will be given a dividend of $0.36 per share. The ex-dividend date is Tuesday, August 20th. This is an increase from Landstar System’s previous quarterly dividend of $0.33. This represents a $1.44 dividend on an annualized basis and a yield of 0.76%. Landstar System’s dividend payout ratio is presently 22.15%.

Analyst Ratings Changes

Several brokerages have recently weighed in on LSTR. Raymond James lowered their price target on shares of Landstar System from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Wolfe Research cut Landstar System from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Morgan Stanley reduced their target price on Landstar System from $147.00 to $145.00 and set an “equal weight” rating on the stock in a research report on Monday, July 8th. Susquehanna increased their price target on Landstar System from $160.00 to $165.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Evercore ISI upped their price target on Landstar System from $161.00 to $173.00 and gave the stock an “in-line” rating in a research note on Tuesday, June 25th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $179.73.

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.