Heartland Express, Inc. (NASDAQ:HTLD – Get 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.
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
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.
- Get a free copy of the StockNews.com research report on Heartland Express (HTLD)
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