Heartland Express, Inc. (NASDAQ:HTLD) announced a quarterly dividend on Monday, November 22nd, Zacks reports. Investors of record on Tuesday, December 7th will be paid a dividend of 0.02 per share by the transportation company on Friday, December 17th. This represents a $0.08 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend is Monday, December 6th.
Heartland Express has a dividend payout ratio of 8.0% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Heartland Express to earn $1.00 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 8.0%.
Shares of HTLD opened at $17.71 on Wednesday. The company has a market cap of $1.40 billion, a PE ratio of 18.45 and a beta of 0.54. The business has a fifty day moving average of $16.57 and a 200 day moving average of $17.08. Heartland Express has a 52-week low of $15.71 and a 52-week high of $20.24.
Heartland Express announced that its board has authorized a share repurchase program on Friday, August 20th that allows the company to repurchase 3,000,000 outstanding shares. This repurchase authorization allows the transportation company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
A hedge fund recently raised its stake in Heartland Express stock. Royal Bank of Canada increased its position in shares of Heartland Express, Inc. (NASDAQ:HTLD) by 123.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,879 shares of the transportation company’s stock after buying an additional 3,250 shares during the period. Royal Bank of Canada’s holdings in Heartland Express were worth $101,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 55.64% of the company’s stock.
Separately, Zacks Investment Research lowered Heartland Express from a “hold” rating to a “sell” rating in a research note on Tuesday, October 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Heartland Express currently has a consensus rating of “Hold” and an average target price of $21.33.
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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