161,560 Shares in Heartland Express, Inc. (HTLD) Acquired by Echo Street Capital Management LLC
Echo Street Capital Management LLC acquired a new position in shares of Heartland Express, Inc. (NASDAQ:HTLD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 161,560 shares of the company’s stock, valued at approximately $3,050,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. boosted its stake in Heartland Express by 26.7% in the third quarter. Victory Capital Management Inc. now owns 5,707 shares of the company’s stock worth $108,000 after buying an additional 1,203 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in Heartland Express by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 6,409 shares of the company’s stock worth $111,000 after buying an additional 109 shares in the last quarter. PineBridge Investments L.P. boosted its stake in Heartland Express by 5.5% in the second quarter. PineBridge Investments L.P. now owns 7,494 shares of the company’s stock worth $131,000 after buying an additional 390 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Heartland Express during the second quarter worth approximately $184,000. Finally, Mason Street Advisors LLC purchased a new stake in Heartland Express during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 61.02% of the company’s stock.
Heartland Express, Inc. (NASDAQ:HTLD) traded up 2.77% during trading on Friday, hitting $20.75. 852,543 shares of the company were exchanged. Heartland Express, Inc. has a 1-year low of $15.36 and a 1-year high of $22.69. The firm’s 50 day moving average price is $21.20 and its 200-day moving average price is $19.31. The stock has a market capitalization of $1.73 billion, a PE ratio of 28.82 and a beta of 0.42.
Heartland Express (NASDAQ:HTLD) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.15 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by $0.01. Heartland Express had a return on equity of 12.59% and a net margin of 9.31%. The business earned $149.30 million during the quarter, compared to analysts’ expectations of $162.30 million. During the same period last year, the company earned $0.17 earnings per share. The firm’s revenue was down 18.2% compared to the same quarter last year. Equities analysts predict that Heartland Express, Inc. will post $0.67 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 16th. Shareholders of record on Tuesday, December 6th were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend was Friday, December 2nd. Heartland Express’s payout ratio is 11.11%.
A number of research firms have issued reports on HTLD. Zacks Investment Research cut Heartland Express from a “hold” rating to a “sell” rating in a report on Tuesday, October 11th. Deutsche Bank AG began coverage on Heartland Express in a report on Wednesday, November 2nd. They set a “hold” rating and a $18.00 target price for the company. Stephens cut Heartland Express from an “overweight” rating to an “equal weight” rating in a report on Friday, October 21st. Seaport Global Securities began coverage on Heartland Express in a report on Friday, December 16th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus cut Heartland Express from a “buy” rating to a “hold” rating in a report on Thursday, December 15th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the company. Heartland Express has a consensus rating of “Hold” and a consensus target price of $16.64.
Heartland Express Company Profile
Heartland Express, Inc (Heartland) is a holding company. The Company owns all of the stock of Heartland Express Inc of Iowa, Gordon Trucking, Inc, Heartland Express Services, Inc, Heartland Express Maintenance Services, Inc and A & M Express, Inc It provides transportation services to shippers spanning from Washington to Florida and New England to California, as well as parts of Canada.
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