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

Harbor Capital Advisors Inc. grew its holdings in Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 262.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,117 shares of the transportation company's stock after buying 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 filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC purchased a new stake in Landstar System in the 4th quarter valued at about $25,000. HM Payson & Co. acquired a new position in shares of Landstar System during the fourth quarter worth $26,000. Colonial Trust Co SC increased its stake in Landstar System by 61.7% during the 4th quarter. Colonial Trust Co SC now owns 186 shares of the transportation company's stock valued at $32,000 after purchasing an additional 71 shares in the last quarter. BOKF NA increased its stake in Landstar System by 56.1% during the 4th quarter. BOKF NA now owns 348 shares of the transportation company's stock valued at $58,000 after purchasing an additional 125 shares in the last quarter. Finally, Transce3nd LLC acquired a new stake in shares of Landstar System in the fourth quarter worth $60,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Landstar System Stock Performance

NASDAQ:LSTR traded up $0.80 during trading hours on Thursday, reaching $140.34. 258,603 shares of the company's stock were exchanged, compared to its average volume of 301,531. Landstar System, Inc. has a 1-year low of $128.99 and a 1-year high of $196.86. The firm has a market capitalization of $4.90 billion, a price-to-earnings ratio of 25.42 and a beta of 0.89. The company has a quick ratio of 2.21, a current ratio of 1.96 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $138.25 and a 200 day moving average of $156.41.

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

Landstar System Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 24th. Stockholders of record on Thursday, June 5th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Thursday, June 5th. This is an increase from Landstar System's previous quarterly dividend of $0.36. Landstar System's dividend payout ratio (DPR) is currently 31.68%.

Analysts Set New Price Targets

Several analysts recently commented on LSTR shares. Wall Street Zen lowered shares of Landstar System from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lowered their price target on shares of Landstar System from $147.00 to $140.00 and set a "hold" rating on the stock in a research report on Wednesday, May 14th. Susquehanna decreased their price objective on shares of Landstar System from $130.00 to $120.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Truist Financial cut their target price on shares of Landstar System from $150.00 to $135.00 and set a "hold" rating on the stock in a research note on Thursday, April 24th. Finally, Barclays started coverage on shares of Landstar System in a research report on Monday. They issued an "equal weight" rating and a $145.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating and fourteen have given a hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $150.00.

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.