Prudential Financial Inc. increased its stake in Marten Transport, Ltd. (NASDAQ:MRTN) by 110.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 85,982 shares of the transportation company’s stock after purchasing an additional 45,138 shares during the quarter. Prudential Financial Inc. owned 0.16% of Marten Transport worth $1,767,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Marten Transport by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,261,440 shares of the transportation company’s stock valued at $34,563,000 after purchasing an additional 28,574 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Marten Transport by 7.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,232,898 shares of the transportation company’s stock valued at $33,782,000 after purchasing an additional 84,766 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Marten Transport by 46.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 980,124 shares of the transportation company’s stock valued at $26,856,000 after purchasing an additional 309,413 shares in the last quarter. Granite Investment Partners LLC increased its holdings in shares of Marten Transport by 71.2% in the 2nd quarter. Granite Investment Partners LLC now owns 795,922 shares of the transportation company’s stock valued at $13,085,000 after purchasing an additional 331,098 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Marten Transport by 28.2% in the 2nd quarter. Northern Trust Corp now owns 635,987 shares of the transportation company’s stock valued at $17,425,000 after purchasing an additional 139,743 shares in the last quarter. Institutional investors and hedge funds own 68.45% of the company’s stock.
Marten Transport, Ltd. (NASDAQ:MRTN) opened at $19.85 on Thursday. Marten Transport, Ltd. has a twelve month low of $12.81 and a twelve month high of $21.15. The firm has a market cap of $1,084.98, a PE ratio of 32.62 and a beta of 1.34.
Marten Transport (NASDAQ:MRTN) last posted its earnings results on Thursday, October 19th. The transportation company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Marten Transport had a net margin of 4.87% and a return on equity of 7.45%. The firm had revenue of $170.70 million during the quarter, compared to the consensus estimate of $169.67 million. During the same period last year, the firm posted $0.26 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. analysts forecast that Marten Transport, Ltd. will post 0.62 EPS for the current year.
MRTN has been the subject of a number of research analyst reports. Zacks Investment Research upgraded shares of Marten Transport from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Thursday, September 7th. BidaskClub downgraded shares of Marten Transport from a “hold” rating to a “sell” rating in a report on Friday, August 25th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $15.00 price target on shares of Marten Transport in a report on Sunday, October 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Marten Transport has an average rating of “Hold” and a consensus price target of $19.00.
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About Marten Transport
Marten Transport, Ltd. is a temperature-sensitive truckload carrier. The Company focuses on transporting and distributing food and other consumer-packaged goods that require a temperature-controlled or insulated environment. The Company operates through four segments: Truckload, Dedicated, Intermodal and Brokerage.
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