Heartland Express, Inc. (NASDAQ:HTLD) Declares $0.02 Quarterly Dividend

Heartland Express, Inc. (NASDAQ:HTLDGet Rating) announced a quarterly dividend on Friday, June 17th, Zacks reports. Shareholders of record on Monday, June 27th will be paid a dividend of 0.02 per share by the transportation company on Thursday, July 7th. This represents a $0.08 annualized dividend and a yield of 0.59%. The ex-dividend date is Friday, June 24th.

Heartland Express has increased its dividend payment by an average of 93.5% annually over the last three years. Heartland Express has a dividend payout ratio of 8.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Heartland Express to earn $0.92 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 8.7%.

Shares of Heartland Express stock opened at $13.53 on Thursday. The firm has a market capitalization of $1.07 billion, a PE ratio of 13.01 and a beta of 0.51. The company’s fifty day moving average price is $13.92 and its two-hundred day moving average price is $14.71. Heartland Express has a 52-week low of $12.78 and a 52-week high of $17.88.

Heartland Express (NASDAQ:HTLDGet Rating) last posted its earnings results on Thursday, April 21st. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.02. Heartland Express had a net margin of 13.58% and a return on equity of 11.27%. The business had revenue of $151.70 million for the quarter, compared to analyst estimates of $151.73 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, sell-side analysts forecast that Heartland Express will post 0.96 EPS for the current year.

Large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. grew its holdings in Heartland Express by 26.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,047 shares of the transportation company’s stock worth $142,000 after acquiring an additional 2,075 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Heartland Express during the 1st quarter valued at about $198,000. MetLife Investment Management LLC lifted its position in Heartland Express by 54.3% during the 1st quarter. MetLife Investment Management LLC now owns 25,899 shares of the transportation company’s stock valued at $364,000 after purchasing an additional 9,110 shares during the period. Engineers Gate Manager LP acquired a new position in Heartland Express during the 1st quarter valued at about $382,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in Heartland Express by 14.1% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,143 shares of the transportation company’s stock valued at $565,000 after purchasing an additional 4,957 shares during the period. 54.82% of the stock is currently owned by hedge funds and other institutional investors.

HTLD has been the topic of several analyst reports. Morgan Stanley raised shares of Heartland Express from an “underweight” rating to an “equal weight” rating and set a $16.00 target price on the stock in a report on Tuesday, March 15th. JPMorgan Chase & Co. lowered their target price on shares of Heartland Express from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday, April 8th. Stephens lowered their target price on shares of Heartland Express from $18.00 to $15.00 in a report on Friday, April 1st. Finally, StockNews.com raised shares of Heartland Express from a “hold” rating to a “buy” rating in a report on Wednesday, April 27th.

Heartland Express Company Profile (Get Rating)

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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