Bank of New York Mellon Corp Invests $3.77 Million in Heartland Express, Inc. $HTLD

Key Points

• Bank of New York Mellon acquired 247,424 Heartland Express shares worth approximately $3.77 million, while institutional investors collectively own 53.45% of the company.
• Heartland Express reported quarterly EPS of $0.14, but revenue of $152.38 million fell 12.5% year over year and missed analyst expectations of $185.08 million. The company posted a negative net margin of 2.98%.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and an average price target of $13.00; the stock recently opened at $12.44.

Bank of New York Mellon Corp bought a new position in shares of Heartland Express, Inc. (NASDAQ:HTLD - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 247,424 shares of the transportation company's stock, valued at approximately $3,766,000. Bank of New York Mellon Corp owned 0.32% of Heartland Express at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Punch & Associates Investment Management Inc. bought a new stake in Heartland Express in the fourth quarter valued at approximately $2,619,000. Arrowstreet Capital Limited Partnership raised its holdings in Heartland Express by 34.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 588,810 shares of the transportation company's stock worth $6,124,000 after purchasing an additional 151,589 shares during the last quarter. Intech Investment Management LLC raised its holdings in Heartland Express by 285.2% during the 4th quarter. Intech Investment Management LLC now owns 78,916 shares of the transportation company's stock worth $713,000 after purchasing an additional 58,428 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Heartland Express by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,873,653 shares of the transportation company's stock worth $40,285,000 after purchasing an additional 201,151 shares during the period. Finally, Dean Capital Management boosted its stake in shares of Heartland Express by 73.9% in the 4th quarter. Dean Capital Management now owns 136,909 shares of the transportation company's stock valued at $1,236,000 after purchasing an additional 58,167 shares during the last quarter. 53.45% of the stock is currently owned by institutional investors.

Heartland Express Stock Performance

NASDAQ:HTLD opened at $12.44 on Monday. The company has a fifty day moving average of $13.50 and a 200-day moving average of $12.83. The firm has a market capitalization of $961.99 million, a P/E ratio of -44.43 and a beta of 1.33. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.18. Heartland Express, Inc. has a twelve month low of $6.99 and a twelve month high of $16.64.

Heartland Express (NASDAQ:HTLD - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The transportation company reported $0.14 EPS for the quarter. Heartland Express had a negative net margin of 2.98% and a negative return on equity of 0.92%. The business had revenue of $152.38 million during the quarter, compared to analysts' expectations of $185.08 million. During the same period last year, the company posted ($0.14) earnings per share. The business's quarterly revenue was down 12.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Heartland Express, Inc. will post 0.19 EPS for the current year.

Insider Activity

In other news, Director David Millis sold 31,402 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $15.67, for a total value of $492,069.34. Following the completion of the sale, the director directly owned 28,387 shares in the company, valued at $444,824.29. This trade represents a 52.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 41.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HTLD. JPMorgan Chase & Co. increased their price objective on shares of Heartland Express from $11.00 to $12.00 and gave the stock an "underweight" rating in a research report on Friday, July 31st. Zacks Research raised shares of Heartland Express from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 13th. Wall Street Zen upgraded Heartland Express from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings reissued a "sell (d-)" rating on shares of Heartland Express in a research report on Wednesday, June 24th. Finally, UBS Group boosted their price objective on Heartland Express from $12.00 to $13.00 and gave the company a "neutral" rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, Heartland Express currently has a consensus rating of "Hold" and an average price target of $13.00.

Heartland Express Profile

Heartland Express, Inc NASDAQ: HTLD is a publicly traded truckload carrier headquartered in North Liberty, Iowa. The company specializes in full truckload transportation, offering dry-van services that connect shippers with customers across the continental United States. Its primary focus is on over-the-road freight movements, serving industries such as manufacturing, retail, and consumer goods.

Founded in 1978 as Heartland Motor Freight, the company has grown from a regional carrier into one of the larger U.S.

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