Harbor Capital Advisors Inc. Buys 4,606 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Harbor Capital Advisors Inc. lifted its stake in Landstar System, Inc. (NASDAQ:LSTR) by 111.1% during the third quarter, Holdings Channel.com reports. The fund owned 8,751 shares of the transportation company’s stock after buying an additional 4,606 shares during the period. Harbor Capital Advisors Inc.’s holdings in Landstar System were worth $1,653,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Landstar System by 0.7% in the first quarter. Vanguard Group Inc. now owns 3,480,039 shares of the transportation company’s stock valued at $670,812,000 after purchasing an additional 25,387 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Landstar System by 6.2% in the 2nd quarter. Victory Capital Management Inc. now owns 1,697,093 shares of the transportation company’s stock valued at $313,080,000 after buying an additional 99,461 shares during the last quarter. Boston Partners grew its stake in shares of Landstar System by 1.0% in the first quarter. Boston Partners now owns 1,586,286 shares of the transportation company’s stock valued at $305,671,000 after buying an additional 15,424 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Landstar System by 6.6% during the second quarter. Dimensional Fund Advisors LP now owns 594,895 shares of the transportation company’s stock worth $109,743,000 after buying an additional 37,020 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in Landstar System by 2.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 429,315 shares of the transportation company’s stock worth $82,755,000 after acquiring an additional 10,538 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. 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 research report on Wednesday, July 31st. Stifel Nicolaus reduced their price target on Landstar System from $164.00 to $160.00 and set a “hold” rating for the company in a report on Thursday, August 1st. The Goldman Sachs Group dropped their price objective on Landstar System from $165.00 to $158.00 and set a “sell” rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, UBS Group boosted their target price on Landstar System from $184.00 to $186.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $174.25.

Landstar System Stock Performance

Shares of NASDAQ LSTR opened at $180.76 on Wednesday. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.21 and a quick ratio of 2.21. The firm has a market cap of $6.39 billion, a price-to-earnings ratio of 31.01 and a beta of 0.81. The stock’s fifty day moving average price is $182.79 and its two-hundred day moving average price is $182.66. Landstar System, Inc. has a one year low of $165.39 and a one year high of $201.40.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 EPS for the quarter, missing the consensus estimate of $1.45 by ($0.04). Landstar System had a net margin of 4.32% and a return on equity of 20.68%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter last year, the company posted $1.71 earnings per share. The company’s revenue was down 5.8% on a year-over-year basis. On average, equities analysts forecast that Landstar System, Inc. will post 5.7 EPS for the current year.

Landstar System Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 10th. Stockholders of record on Tuesday, November 19th will be given a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.80%. Landstar System’s payout ratio is 24.70%.

Landstar System Company 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.