Harbor Capital Advisors Inc. Buys 23,252 Shares of Landstar System, Inc. (NASDAQ:LSTR)

Harbor Capital Advisors Inc. lifted its stake in shares of Landstar System, Inc. (NASDAQ:LSTR) by 262.3% during the first quarter, Holdings Channel.com reports. The firm owned 32,117 shares of the transportation company’s stock after acquiring an additional 23,252 shares during the period. Harbor Capital Advisors Inc.’s holdings in Landstar System were worth $4,824,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ameriprise Financial Inc. boosted its position in shares of Landstar System by 120.7% during the 4th quarter. Ameriprise Financial Inc. now owns 165,297 shares of the transportation company’s stock worth $28,408,000 after purchasing an additional 90,391 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in shares of Landstar System by 14.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 5,392 shares of the transportation company’s stock worth $927,000 after purchasing an additional 665 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Landstar System by 11.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,935 shares of the transportation company’s stock worth $504,000 after purchasing an additional 300 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Landstar System by 26.6% during the 4th quarter. Van ECK Associates Corp now owns 31,836 shares of the transportation company’s stock worth $5,471,000 after purchasing an additional 6,680 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Landstar System by 1.7% during the 4th quarter. Rhumbline Advisers now owns 115,384 shares of the transportation company’s stock worth $19,830,000 after purchasing an additional 1,964 shares in the last quarter. Institutional investors own 97.95% of the company’s stock.

Landstar System Price Performance

Landstar System stock opened at $143.40 on Wednesday. Landstar System, Inc. has a 52 week low of $128.99 and a 52 week high of $196.86. The company’s 50 day moving average price is $138.07 and its two-hundred day moving average price is $156.84. 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 stock has a market cap of $5.01 billion, a P/E ratio of 25.98 and a beta of 0.89.

Landstar System (NASDAQ:LSTR) last posted 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). Landstar System had a return on equity of 19.56% and a net margin of 4.07%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the prior year, the business earned $1.32 EPS. Landstar System’s quarterly revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict 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. Investors 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 1.12%. The ex-dividend date is Thursday, June 5th. This is a boost from Landstar System’s previous quarterly dividend of $0.36. Landstar System’s payout ratio is 31.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on LSTR. Stifel Nicolaus cut 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 report on Wednesday, May 14th. Jefferies Financial Group cut their price target on Landstar System from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, April 11th. Benchmark reissued a “hold” rating on shares of Landstar System in a report on Monday, April 14th. Evercore ISI lowered their price objective on Landstar System from $137.00 to $136.00 and set an “in-line” rating for the company in a research note on Wednesday, May 14th. Finally, Wall Street Zen lowered Landstar System from a “hold” rating to a “sell” rating in a report on Thursday, May 22nd. Two investment analysts have rated the stock with a sell rating and fourteen have issued a hold rating to the company. According to data from MarketBeat, the stock currently has an average 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.