Covenant Logistics Group, Inc. $CVLG Stake Boosted by Boston Partners

Boston Partners grew its stake in shares of Covenant Logistics Group, Inc. (NYSE:CVLG - Free Report) by 164.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,461 shares of the company's stock after purchasing an additional 15,827 shares during the quarter. Boston Partners owned 0.10% of Covenant Logistics Group worth $565,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of CVLG. Summit Investment Advisors Inc. lifted its stake in shares of Covenant Logistics Group by 100.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,406 shares of the company's stock worth $77,000 after acquiring an additional 703 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Covenant Logistics Group by 1,289.4% in the first quarter. GAMMA Investing LLC now owns 1,709 shares of the company's stock worth $38,000 after acquiring an additional 1,586 shares in the last quarter. Copeland Capital Management LLC acquired a new position in shares of Covenant Logistics Group in the first quarter worth about $52,000. KLP Kapitalforvaltning AS lifted its stake in shares of Covenant Logistics Group by 100.0% in the first quarter. KLP Kapitalforvaltning AS now owns 2,600 shares of the company's stock worth $58,000 after acquiring an additional 1,300 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Covenant Logistics Group by 6,352.3% in the first quarter. US Bancorp DE now owns 2,839 shares of the company's stock worth $63,000 after acquiring an additional 2,795 shares in the last quarter. Institutional investors and hedge funds own 83.72% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on CVLG shares. TD Cowen cut their price target on Covenant Logistics Group from $31.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, April 25th. Wall Street Zen upgraded Covenant Logistics Group from a "hold" rating to a "buy" rating in a research note on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $33.00.

Covenant Logistics Group Stock Up 5.5%

NYSE CVLG traded up $1.31 on Friday, hitting $25.03. 114,860 shares of the stock traded hands, compared to its average volume of 89,085. The stock has a 50-day moving average of $24.25 and a 200 day moving average of $23.17. Covenant Logistics Group, Inc. has a twelve month low of $17.46 and a twelve month high of $30.77. The company has a market capitalization of $626.25 million, a P/E ratio of 19.11 and a beta of 1.41. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.52.

Covenant Logistics Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.1%. Covenant Logistics Group's payout ratio is currently 21.37%.

Covenant Logistics Group Company Profile

Covenant Logistics Group, Inc, together with its subsidiaries, provides transportation and logistics services in the United States. It operates through four segments: Expedited, Dedicated, Managed Freight, and Warehousing. The Expedited segment primarily provides truckload services with high service freight and delivery standards, such as 1,000 miles in 22 hours or 15-minute delivery windows.