Harbor Capital Advisors Inc. Has $2.08 Million Stake in Landstar System, Inc. $LSTR

Harbor Capital Advisors Inc. lowered its position in shares of Landstar System, Inc. (NASDAQ:LSTR) by 62.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,993 shares of the transportation company’s stock after selling 28,353 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Landstar System were worth $2,083,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Jump Financial LLC grew its stake in shares of Landstar System by 211.2% in the 1st quarter. Jump Financial LLC now owns 3,653 shares of the transportation company’s stock valued at $549,000 after buying an additional 2,479 shares during the period. Comerica Bank lifted its holdings in shares of Landstar System by 1.6% in the 1st quarter. Comerica Bank now owns 26,167 shares of the transportation company’s stock worth $3,930,000 after purchasing an additional 414 shares in the last quarter. FORA Capital LLC lifted its holdings in shares of Landstar System by 159.1% in the 1st quarter. FORA Capital LLC now owns 4,029 shares of the transportation company’s stock worth $605,000 after purchasing an additional 2,474 shares in the last quarter. Magnetar Financial LLC acquired a new stake in Landstar System in the 1st quarter valued at $3,359,000. Finally, Vident Advisory LLC increased its stake in Landstar System by 21.1% during the 1st quarter. Vident Advisory LLC now owns 2,206 shares of the transportation company’s stock valued at $331,000 after purchasing an additional 385 shares in the last quarter. Institutional investors and hedge funds own 97.95% of the company’s stock.

Landstar System Stock Performance

LSTR stock opened at $110.14 on Friday. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3.78 billion, a PE ratio of 28.10 and a beta of 0.85. The business has a 50 day moving average of $132.88 and a 200-day moving average of $132.96. Landstar System, Inc. has a 12-month low of $119.32 and a 12-month high of $179.74.

Landstar System (NASDAQ:LSTR) last posted its quarterly earnings data on Tuesday, October 28th. The transportation company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The business had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Landstar System had a return on equity of 17.24% and a net margin of 2.87%.The firm’s revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 EPS. As a group, sell-side analysts expect that Landstar System, Inc. will post 6.1 earnings per share for the current year.

Landstar System Announces Dividend

The business also recently declared an annual dividend, which will be paid on Wednesday, January 21st. Investors of record on Tuesday, January 6th will be given a dividend of $2.00 per share. The ex-dividend date is Tuesday, January 6th. This represents a yield of 142.0%. Landstar System’s dividend payout ratio is presently 40.82%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on LSTR shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Landstar System in a research note on Monday. TD Cowen decreased their target price on shares of Landstar System from $135.00 to $127.00 and set a “hold” rating for the company in a research report on Wednesday, October 29th. Zacks Research raised shares of Landstar System from a “strong sell” rating to a “hold” rating in a research report on Monday, December 8th. UBS Group cut their price target on Landstar System from $149.00 to $147.00 and set a “neutral” rating for the company in a research note on Wednesday, October 29th. Finally, Truist Financial lowered their price objective on Landstar System from $135.00 to $130.00 and set a “hold” rating for the company in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $136.58.

Landstar System Profile

Landstar System, Inc provides integrated transportation management solutions through a network of independent agents and third-party capacity providers. The company specializes in truckload brokerage, intermodal, air and ocean freight, expedited and heavy-haul services, along with value-added offerings such as cargo insurance, customs brokerage and supply chain management. Landstar’s proprietary technology platform enables real-time load matching, shipment tracking and data analytics to optimize fleet utilization and improve customer service.

Founded in 1968 and headquartered in Jacksonville, Florida, Landstar pioneered an asset-light brokerage model that has evolved into a global logistics operation.