Heartland Express (HTLD)
Moves freight through a regional dry van truckload network for major U.S. shippers.
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Runs asset-based dry van truckload service for major U.S. shippers, with smaller temperature-controlled and Mexico cross-border work. Revenue is managed as one reportable segment, shaped by regional terminal density, freight demand, acquisition integration, and third-party Mexico execution.
Provides asset-based dry van truckload service for major shippers across the United States. Smaller offerings include temperature-controlled truckload and Mexico cross-border logistics, where third-party partnerships handle the non-U.S. execution.
Operates through Heartland Express, Millis Transfer, and Smith Transport brands, with CFI's U.S. operations integrated into Heartland Express. The network is built around regional terminal density, supporting customer service, driver home time, and equipment service rather than a purely brokerage model.
Reports as one operating segment, so service lines are managed through a combined transportation business. Results depend on freight demand, workforce sizing, acquisition integration, insurance/self-insured retentions, and Mexico carrier partnerships.
Company facts
Target rangeAs of Sep 21, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 13, 2026 | Barclays | Reiterate | Rating: —Target: $14 | Target: $12 |
| Aug 6, 2026 | UBS | Reiterate | Rating: —Target: $12 | Target: $13 |
| Jul 6, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $12 | Target: $13 |
| May 8, 2026 | Morgan Stanley | Target | Target: $9 | Target: $12 |
| Apr 24, 2026 | UBS | Reiterate | Rating: —Target: $11 | Target: $12 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $62.4M · Total debt $146.4M · Total assets $1.17B · Shareholders' equity $756.3M
- Revenue
- $184.1M
- Operating income
- −$8.5M
- Net income
- $10.6M
HistoryDividendAnnual yieldUpcoming
| Institutions | ≈ 50.05% | 38.78M shares | |
|---|---|---|---|
| 200 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 49.88% | 38.65M shares | |
| 11 holders · as of Sep 2, 2026 | |||
| Strategic holders | 17.03% | 13.19M shares | |
| 2 holders · as of May 21, 2026 | |||
| Adds to | 116.96% | ||
77.49M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 116.96%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Michael J. Gerdin1Insiderdirector, 10 percent owner, officer, other: Chief Executive Officer | 41.47% | 31.95M | filed May 21, 2026 |
Ann S. Gerdin Revocable TrustStrategic10 percent owner, other: Co-Trustee of 10% Owner | 11.55% | 8.95M | filed May 21, 2026 |
BlackRock, Inc.Institution | 8.86% | 6.87M | as of Jun 30, 2026 |
Gerdin Ann SInsider | 8.26% | 6.40M | filed Feb 17, 2026 |
2009 Gerdin Heartland Trust UTA 07/15/2009Strategic | 5.48% | 4.25M | filed Feb 11, 2022 |
- Michael J. Gerdin's transaction reports restate only vehicles that traded; the 2025 ownership statement (31.95M) plus the 178.3K net shares acquired since is used instead.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 15, 2026 | David Paul Millis | director | −31,402 | $15.67 |
| Jun 10, 2026 | David P. Spalding | director | +2,000 | $15.69 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Heartland Express | $11.70 | +0.53% | $902.0M | — | 38.2 | 1.2 | −12.5% |
| Knight-Swift Transportation | $66.86 | +0.35% | $10.84B | 257.9 | 20.1 | 1.4 | +12.6% |
| Schneider National | $32.32 | −0.05% | $5.66B | 50.5 | 24.1 | 1.0 | +10.4% |
| Werner Enterprises | $34.56 | −1.29% | $2.10B | — | 19.9 | 0.6 | +24.0% |
| J.B. Hunt | $236.23 | +0.02% | $22.18B | 33.5 | 27.5 | 1.7 | +19.4% |
| TFI International | $125.92 | +0.34% | $10.31B | 28.5 | 17.6 | 1.2 | +12.4% |
| Marten Transport | $13.32 | +0.76% | $1.08B | 85.2 | 27.0 | 1.3 | −2.8% |
| Covenant Logistics | $34.05 | +0.49% | $852.3M | 338.8 | 15.5 | 0.7 | +9.9% |
| PAMT | $11.41 | −1.21% | $241.9M | — | — | 0.4 | +8.9% |
| Median | 67.8 | 20.1 | 1.1 | +11.4% |