Schwab Charles Investment Management Inc. grew its stake in Heartland Express, Inc. (NASDAQ:HTLD) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 297,820 shares of the transportation company’s stock after acquiring an additional 11,576 shares during the period. Schwab Charles Investment Management Inc. owned 0.36% of Heartland Express worth $6,201,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in HTLD. Victory Capital Management Inc. grew its holdings in shares of Heartland Express by 52.7% in the 1st quarter. Victory Capital Management Inc. now owns 8,505 shares of the transportation company’s stock valued at $171,000 after acquiring an additional 2,935 shares in the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Heartland Express by 78.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 8,546 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 3,766 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in shares of Heartland Express by 1.6% in the 1st quarter. Municipal Employees Retirement System of Michigan now owns 9,890 shares of the transportation company’s stock valued at $198,000 after acquiring an additional 160 shares in the last quarter. Mason Street Advisors LLC grew its holdings in shares of Heartland Express by 7.0% in the 1st quarter. Mason Street Advisors LLC now owns 10,128 shares of the transportation company’s stock valued at $203,000 after acquiring an additional 664 shares in the last quarter. Finally, Oxford Asset Management bought a new position in shares of Heartland Express in the 1st quarter valued at about $348,000. Institutional investors own 60.91% of the company’s stock.
HTLD has been the subject of a number of research analyst reports. BidaskClub upgraded Heartland Express from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research cut Heartland Express from a “buy” rating to a “sell” rating in a report on Monday, July 3rd. UBS AG upgraded Heartland Express from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $20.00 to $22.00 in a report on Monday, July 10th. Stifel Nicolaus reiterated a “hold” rating and set a $23.00 price target (up previously from $19.00) on shares of Heartland Express in a report on Monday, July 10th. Finally, Morgan Stanley reiterated an “underweight” rating on shares of Heartland Express in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.20.
In other Heartland Express news, EVP John P. Cosaert sold 7,146 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $22.54, for a total value of $161,070.84. Following the completion of the sale, the executive vice president now directly owns 57,668 shares of the company’s stock, valued at approximately $1,299,836.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 42.10% of the company’s stock.
Heartland Express, Inc. (NASDAQ:HTLD) opened at 23.70 on Wednesday. The company has a market cap of $1.97 billion, a PE ratio of 36.46 and a beta of 0.55. Heartland Express, Inc. has a 12-month low of $17.06 and a 12-month high of $25.22. The company’s 50-day moving average price is $22.79 and its 200-day moving average price is $20.99.
Heartland Express (NASDAQ:HTLD) last issued its quarterly earnings data on Wednesday, August 2nd. The transportation company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Heartland Express had a return on equity of 10.60% and a net margin of 9.89%. The firm had revenue of $129.62 million during the quarter, compared to the consensus estimate of $139.89 million. During the same period in the previous year, the company posted $0.20 earnings per share. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. Equities analysts anticipate that Heartland Express, Inc. will post $0.69 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Friday, September 22nd were given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Thursday, September 21st. Heartland Express’s payout ratio is 12.12%.
About Heartland Express
Heartland Express, Inc is a holding company. The Company is a short-to-medium haul truckload carrier. The Company focuses primarily on short- to medium-haul, asset-based dry van truckload services in regional markets near its terminals. The Company’s truckload services are primarily asset-based transportation services in the dry van truckload market, and it also offers truckload temperature-controlled transportation services and non-asset based brokerage services.
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