Harbor Capital Advisors Inc. Increases Position in Landstar System, Inc. (NASDAQ:LSTR)

Harbor Capital Advisors Inc. increased its holdings in Landstar System, Inc. (NASDAQ:LSTR) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,865 shares of the transportation company’s stock after acquiring an additional 114 shares during the period. Harbor Capital Advisors Inc.’s holdings in Landstar System were worth $1,524,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Quest Partners LLC bought a new position in Landstar System in the 2nd quarter valued at $73,000. Whittier Trust Co. of Nevada Inc. grew its position in Landstar System by 431.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 441 shares of the transportation company’s stock valued at $83,000 after buying an additional 358 shares during the period. GAMMA Investing LLC increased its holdings in Landstar System by 14.1% during the third quarter. GAMMA Investing LLC now owns 568 shares of the transportation company’s stock worth $107,000 after buying an additional 70 shares during the last quarter. Point72 DIFC Ltd bought a new stake in Landstar System in the second quarter worth about $106,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Landstar System in the second quarter valued at about $131,000. 97.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO James P. Todd sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $184.32, for a total value of $184,320.00. Following the completion of the transaction, the chief financial officer now directly owns 14,083 shares in the company, valued at approximately $2,595,778.56. The trade was a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by company insiders.

Landstar System Stock Performance

Landstar System stock opened at $165.68 on Monday. Landstar System, Inc. has a 1-year low of $165.31 and a 1-year high of $200.43. The company has a current ratio of 2.21, a quick ratio of 2.21 and a debt-to-equity ratio of 0.04. The firm has a market capitalization of $5.85 billion, a PE ratio of 28.42 and a beta of 0.83. The firm’s 50 day simple moving average is $180.53 and its 200 day simple moving average is $182.82.

Landstar System (NASDAQ:LSTR) last released its quarterly earnings results on Tuesday, October 29th. The transportation company reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.45 by ($0.04). The firm had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.22 billion. Landstar System had a return on equity of 20.68% and a net margin of 4.32%. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.71 EPS. As a group, analysts expect that Landstar System, Inc. will post 5.57 earnings per share for the current fiscal year.

Landstar System Increases Dividend

The firm also recently disclosed a special dividend, which will be paid on Tuesday, January 21st. Stockholders of record on Tuesday, January 7th will be issued a dividend of $2.00 per share. This is a positive change from Landstar System’s previous special dividend of $1.50. The ex-dividend date is Tuesday, January 7th. Landstar System’s payout ratio is presently 24.70%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LSTR. Evercore ISI decreased their price target on shares of Landstar System from $165.00 to $160.00 and set an “in-line” rating for the company in a research note on Wednesday, October 30th. Raymond James downgraded Landstar System from an “outperform” rating to a “market perform” rating in a research report on Friday, November 15th. TD Cowen dropped their price target on Landstar System from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Wednesday, October 30th. Stephens decreased their price objective on Landstar System from $190.00 to $180.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Landstar System from $184.00 to $188.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. One analyst has rated the stock with a sell rating and twelve have issued a hold rating to the stock. Based on data from MarketBeat, Landstar System presently has a consensus rating of “Hold” and a consensus price target of $171.45.

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.