Heartland Express, Inc. (NASDAQ:HTLD) to Issue Quarterly Dividend of $0.02

Heartland Express, Inc. (NASDAQ:HTLDGet Rating) declared a quarterly dividend on Friday, September 16th, Zacks reports. Investors of record on Tuesday, September 27th will be given a dividend of 0.02 per share by the transportation company on Friday, October 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Monday, September 26th.

Heartland Express has raised its dividend payment by an average of 93.5% per year over the last three years. Heartland Express has a payout ratio of 7.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Heartland Express to earn $1.19 per share next year, which means the company should continue to be able to cover its $0.08 annual dividend with an expected future payout ratio of 6.7%.

Heartland Express Stock Down 2.8 %

Heartland Express stock opened at $14.12 on Friday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 8.07 and a beta of 0.56. The stock has a fifty day simple moving average of $15.26 and a two-hundred day simple moving average of $14.42. Heartland Express has a 12 month low of $12.78 and a 12 month high of $17.88. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.04.

Heartland Express (NASDAQ:HTLDGet Rating) last posted its earnings results on Monday, July 25th. The transportation company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $0.64. The business had revenue of $187.20 million during the quarter, compared to analyst estimates of $164.27 million. Heartland Express had a return on equity of 18.49% and a net margin of 21.64%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.26 EPS. Equities analysts predict that Heartland Express will post 1.83 EPS for the current fiscal year.

Insider Activity

In other Heartland Express news, Director Michael John Sullivan acquired 2,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were acquired at an average cost of $14.28 per share, for a total transaction of $28,560.00. Following the completion of the transaction, the director now directly owns 14,902 shares of the company’s stock, valued at $212,800.56. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 39.10% of the company’s stock.

Institutional Investors Weigh In On Heartland Express

Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc lifted its position in shares of Heartland Express by 1.3% in the second quarter. Legal & General Group Plc now owns 142,766 shares of the transportation company’s stock worth $1,986,000 after buying an additional 1,849 shares in the last quarter. Weiss Multi Strategy Advisers LLC bought a new stake in Heartland Express during the first quarter worth approximately $1,042,000. Thrivent Financial for Lutherans increased its stake in Heartland Express by 20.7% during the second quarter. Thrivent Financial for Lutherans now owns 45,753 shares of the transportation company’s stock worth $636,000 after acquiring an additional 7,846 shares during the last quarter. Citigroup Inc. increased its stake in Heartland Express by 16.9% during the first quarter. Citigroup Inc. now owns 44,708 shares of the transportation company’s stock worth $629,000 after acquiring an additional 6,455 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Heartland Express by 1.8% during the first quarter. Great West Life Assurance Co. Can now owns 41,369 shares of the transportation company’s stock worth $597,000 after acquiring an additional 734 shares during the last quarter. 55.31% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on HTLD shares. Morgan Stanley lifted their target price on Heartland Express from $16.00 to $17.00 and gave the stock an “equal weight” rating in a report on Monday, August 29th. Robert W. Baird lifted their price objective on Heartland Express from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Tuesday, August 23rd. StockNews.com lowered Heartland Express from a “buy” rating to a “hold” rating in a report on Wednesday, August 17th. Finally, UBS Group lifted their price objective on Heartland Express to $16.00 in a report on Tuesday, July 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to MarketBeat, Heartland Express presently has a consensus rating of “Hold” and an average price target of $15.83.

Heartland Express Company Profile

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Heartland Express, Inc, together with its subsidiaries, operates as a short-to-medium haul truckload carrier in the United States and Canada. It primarily provides nationwide asset-based dry van truckload service for shippers from Washington to Florida and New England to California; and temperature-controlled truckload services.

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Dividend History for Heartland Express (NASDAQ:HTLD)

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