Harbor Capital Advisors Inc. Has $6.30 Million Stock Holdings in Landstar System, Inc. $LSTR

Key Points

• Harbor Capital Advisors Inc. increased its stake in Landstar System by 41.2% during the second quarter, owning approximately 0.13% of the company valued at $6.3 million.
• Landstar System announced a $0.40 quarterly dividend with an annualized yield of 1.2%, reflecting a payout ratio of 33.54%.
• Analysts have mixed ratings on Landstar System, with one Strong Buy, one Buy, and thirteen Hold ratings, leading to an average target price of $145.17.

Harbor Capital Advisors Inc. lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR - Free Report) by 41.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,346 shares of the transportation company's stock after acquiring an additional 13,229 shares during the period. Harbor Capital Advisors Inc. owned approximately 0.13% of Landstar System worth $6,304,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of LSTR. Kayne Anderson Rudnick Investment Management LLC grew its stake in Landstar System by 8.5% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,083,704 shares of the transportation company's stock valued at $613,372,000 after acquiring an additional 319,101 shares during the period. Victory Capital Management Inc. increased its position in shares of Landstar System by 2.1% during the first quarter. Victory Capital Management Inc. now owns 1,654,910 shares of the transportation company's stock valued at $248,567,000 after acquiring an additional 33,399 shares in the last quarter. Northern Trust Corp grew its stake in shares of Landstar System by 9.1% during the 1st quarter. Northern Trust Corp now owns 734,256 shares of the transportation company's stock valued at $110,285,000 after purchasing an additional 61,477 shares during the period. Invesco Ltd. boosted its holdings in Landstar System by 1.9% in the 1st quarter. Invesco Ltd. now owns 462,357 shares of the transportation company's stock worth $69,446,000 after buying an additional 8,623 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in Landstar System by 2.7% during the 1st quarter. Raymond James Financial Inc. now owns 381,473 shares of the transportation company's stock valued at $57,297,000 after buying an additional 10,147 shares during the period. 97.95% of the stock is owned by institutional investors and hedge funds.

Landstar System Price Performance

NASDAQ:LSTR traded down $2.06 during trading hours on Friday, hitting $124.67. 709,674 shares of the company's stock traded hands, compared to its average volume of 348,976. Landstar System, Inc. has a 52 week low of $123.43 and a 52 week high of $196.86. The business's fifty day simple moving average is $132.42 and its two-hundred day simple moving average is $138.39. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.32 billion, a P/E ratio of 26.14 and a beta of 0.84.

Landstar System (NASDAQ:LSTR - Get Free Report) last released its earnings results on Tuesday, July 29th. The transportation company reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Landstar System had a return on equity of 17.49% and a net margin of 3.51%.The firm had revenue of $1.21 billion for the quarter, compared to analysts' expectations of $1.21 billion. During the same quarter in the prior year, the firm posted $1.48 earnings per share. The company's quarterly revenue was down 1.1% on a year-over-year basis. On average, research analysts anticipate that Landstar System, Inc. will post 6.1 earnings per share for the current fiscal year.

Landstar System Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 9th. Shareholders of record on Tuesday, August 19th were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, August 19th. Landstar System's dividend payout ratio (DPR) is currently 33.54%.

Analyst Upgrades and Downgrades

LSTR has been the topic of several research analyst reports. Robert W. Baird assumed coverage on shares of Landstar System in a research report on Tuesday, July 1st. They issued an "outperform" rating and a $166.00 target price on the stock. UBS Group decreased their price objective on shares of Landstar System from $154.00 to $149.00 and set a "neutral" rating for the company in a report on Wednesday, July 30th. Stifel Nicolaus cut their price target on shares of Landstar System from $140.00 to $131.00 and set a "hold" rating for the company in a research note on Thursday, July 31st. Zacks Research raised shares of Landstar System from a "strong sell" rating to a "hold" rating in a research report on Monday, September 8th. Finally, Baird R W upgraded shares of Landstar System to a "strong-buy" rating in a research report on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $145.17.

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.