Nuance Investments LLC reduced its position in Heartland Express, Inc. (NASDAQ:HTLD) by 44.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,472,932 shares of the transportation company’s stock after selling 1,202,489 shares during the period. Heartland Express makes up 2.6% of Nuance Investments LLC’s investment portfolio, making the stock its 14th largest holding. Nuance Investments LLC owned about 1.77% of Heartland Express worth $36,941,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in shares of Heartland Express during the 3rd quarter worth $586,000. Legal & General Group Plc increased its holdings in Heartland Express by 12.5% in the 3rd quarter. Legal & General Group Plc now owns 98,420 shares of the transportation company’s stock worth $2,466,000 after acquiring an additional 10,916 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Heartland Express by 6.9% in the 3rd quarter. Great West Life Assurance Co. Can now owns 68,304 shares of the transportation company’s stock worth $1,589,000 after acquiring an additional 4,430 shares during the last quarter. American International Group Inc. increased its holdings in Heartland Express by 8.2% in the 3rd quarter. American International Group Inc. now owns 37,779 shares of the transportation company’s stock worth $947,000 after acquiring an additional 2,874 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Heartland Express in the 3rd quarter worth about $1,559,000. Institutional investors own 61.64% of the company’s stock.
HTLD has been the subject of several recent research reports. TheStreet raised Heartland Express from a “c+” rating to a “b” rating in a report on Thursday, September 7th. Stifel Nicolaus raised Heartland Express from a “hold” rating to a “buy” rating and lifted their target price for the company from $22.00 to $28.00 in a report on Friday, September 29th. Zacks Investment Research raised Heartland Express from a “hold” rating to a “buy” rating and set a $27.00 target price for the company in a report on Monday, October 9th. Robert W. Baird reiterated a “hold” rating and set a $26.00 price target on shares of Heartland Express in a research report on Friday, October 6th. Finally, BidaskClub upgraded Heartland Express from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Four equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $24.17.
Shares of Heartland Express, Inc. (HTLD) opened at $22.29 on Wednesday. Heartland Express, Inc. has a 12-month low of $18.71 and a 12-month high of $25.22. The firm has a market capitalization of $1,885.97, a P/E ratio of 37.73, a price-to-earnings-growth ratio of 2.78 and a beta of 0.55.
Heartland Express (NASDAQ:HTLD) last posted its earnings results on Friday, October 27th. The transportation company reported $0.09 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.08). Heartland Express had a net margin of 8.54% and a return on equity of 9.50%. The business had revenue of $182.10 million for the quarter, compared to analysts’ expectations of $205.81 million. During the same period last year, the firm posted $0.15 earnings per share. Heartland Express’s quarterly revenue was up 22.0% on a year-over-year basis. equities analysts expect that Heartland Express, Inc. will post 0.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 22nd. Investors of record on Tuesday, December 12th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Monday, December 11th. This represents a $0.08 annualized dividend and a yield of 0.36%. Heartland Express’s payout ratio is 13.33%.
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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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