Rhumbline Advisers Lowers Position in Heartland Express, Inc. (NASDAQ:HTLD)

Rhumbline Advisers lessened its position in Heartland Express, Inc. (NASDAQ:HTLD) by 5.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 153,602 shares of the transportation company’s stock after selling 8,170 shares during the quarter. Rhumbline Advisers owned approximately 0.19% of Heartland Express worth $2,631,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Heartland Express during the second quarter valued at $58,000. The PNC Financial Services Group Inc. raised its stake in Heartland Express by 6.5% during the first quarter. The PNC Financial Services Group Inc. now owns 10,955 shares of the transportation company’s stock valued at $213,000 after buying an additional 667 shares during the last quarter. Jane Street Group LLC purchased a new position in Heartland Express during the first quarter valued at $217,000. Stifel Financial Corp purchased a new position in Heartland Express during the first quarter valued at $220,000. Finally, Verity Asset Management Inc. purchased a new position in Heartland Express during the first quarter valued at $230,000. Institutional investors and hedge funds own 56.07% of the company’s stock.

Shares of HTLD opened at $16.27 on Tuesday. Heartland Express, Inc. has a one year low of $15.71 and a one year high of $20.35. The firm has a market capitalization of $1.29 billion, a P/E ratio of 18.08 and a beta of 0.54. The business has a fifty day moving average of $16.68 and a 200 day moving average of $17.89.

Heartland Express (NASDAQ:HTLD) last issued its quarterly earnings data on Sunday, July 18th. The transportation company reported $0.26 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.26. Heartland Express had a return on equity of 10.01% and a net margin of 11.66%. The company had revenue of $154.10 million during the quarter, compared to analyst estimates of $165.27 million. During the same quarter in the previous year, the company posted $0.24 earnings per share. Heartland Express’s revenue was down 4.2% compared to the same quarter last year. On average, research analysts anticipate that Heartland Express, Inc. will post 0.99 earnings per share for the current fiscal year.

Heartland Express announced that its board has initiated a stock buyback plan on Friday, August 20th that authorizes the company to buyback 3,000,000 shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 1st will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.49%. The ex-dividend date is Tuesday, August 31st. Heartland Express’s dividend payout ratio is presently 9.20%.

A number of analysts have commented on HTLD shares. Zacks Investment Research raised Heartland Express from a “sell” rating to a “hold” rating in a report on Monday. TheStreet lowered Heartland Express from a “b-” rating to a “c+” rating in a report on Friday, June 18th. Stifel Nicolaus started coverage on Heartland Express in a report on Monday, June 21st. They issued a “buy” rating for the company. Finally, JPMorgan Chase & Co. raised Heartland Express from a “neutral” rating to an “overweight” rating and set a $20.00 target price for the company in a report on Thursday, July 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.17.

About Heartland Express

Heartland Express, Inc is a holding company, which engages in the provision of short-to-medium haul truckload carrier services. It offers long haul truckload and regional truckload transportation. The company was founded by Russell A. Gerdin in 1978 and is headquartered in North Liberty, IA.

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Institutional Ownership by Quarter for Heartland Express (NASDAQ:HTLD)

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