Harbor Capital Advisors Inc. Has $4.82 Million Stake in Landstar System, Inc. (NASDAQ:LSTR)

Harbor Capital Advisors Inc. increased its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 262.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,117 shares of the transportation company's stock after purchasing an additional 23,252 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.09% of Landstar System worth $4,824,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC raised its holdings in shares of Landstar System by 16.1% in the fourth 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 purchasing an additional 521,695 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Landstar System by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,621,511 shares of the transportation company's stock valued at $278,673,000 after acquiring an additional 11,146 shares in the last quarter. Geode Capital Management LLC increased its holdings in Landstar System by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 817,938 shares of the transportation company's stock valued at $140,602,000 after buying an additional 4,392 shares during the period. Northern Trust Corp increased its stake in shares of Landstar System by 15.6% in the 4th quarter. Northern Trust Corp now owns 672,779 shares of the transportation company's stock valued at $115,624,000 after purchasing an additional 90,672 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Landstar System by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 617,835 shares of the transportation company's stock worth $106,184,000 after acquiring an additional 9,190 shares in the last quarter. Institutional investors own 97.95% of the company's stock.

Landstar System Stock Down 1.9%

Shares of LSTR stock traded down $2.72 on Friday, hitting $137.62. The stock had a trading volume of 254,618 shares, compared to its average volume of 301,395. Landstar System, Inc. has a 52-week low of $128.99 and a 52-week high of $196.86. 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 firm has a market capitalization of $4.81 billion, a price-to-earnings ratio of 24.93 and a beta of 0.89. The stock's 50 day moving average is $138.37 and its 200-day moving average is $155.86.

Landstar System (NASDAQ:LSTR - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The transportation company reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.92 by ($0.07). Landstar System had a net margin of 4.07% and a return on equity of 19.56%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter last year, the company earned $1.32 EPS. The company's quarterly revenue was down 1.6% compared to the same quarter last year. As a group, research analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Shareholders of record on Thursday, June 5th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.16%. This is a boost from Landstar System's previous quarterly dividend of $0.36. The ex-dividend date is Thursday, June 5th. Landstar System's dividend payout ratio is 31.68%.

Analyst Ratings Changes

LSTR has been the topic of several analyst reports. Stifel Nicolaus reduced their price objective on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, May 14th. TD Cowen dropped their price objective on Landstar System from $161.00 to $145.00 and set a "hold" rating on the stock in a report on Thursday, April 3rd. Truist Financial dropped their price objective on Landstar System from $150.00 to $135.00 and set a "hold" rating for the company in a research note on Thursday, April 24th. UBS Group set a $154.00 price objective on Landstar System in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. lowered their target price on Landstar System from $177.00 to $147.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Two investment analysts have rated the stock with a sell rating and fourteen have given a hold rating to the stock. Based on data from MarketBeat.com, Landstar System has a consensus rating of "Hold" and an average price target of $150.00.

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.