Covenant Logistics Group, Inc. (NASDAQ:CVLG) Shares Acquired by Lazard Asset Management LLC

Lazard Asset Management LLC lifted its holdings in shares of Covenant Logistics Group, Inc. (NASDAQ:CVLG) by 5.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,032 shares of the company’s stock after purchasing an additional 1,049 shares during the quarter. Lazard Asset Management LLC owned about 0.07% of Covenant Logistics Group worth $1,036,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Huntington National Bank boosted its holdings in shares of Covenant Logistics Group by 91.5% during the fourth quarter. Huntington National Bank now owns 963 shares of the company’s stock worth $52,000 after purchasing an additional 460 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Covenant Logistics Group during the fourth quarter worth $71,000. Summit Investment Advisors Inc. boosted its holdings in Covenant Logistics Group by 100.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,406 shares of the company’s stock valued at $77,000 after acquiring an additional 703 shares during the last quarter. Private Advisor Group LLC grew its position in Covenant Logistics Group by 11.8% during the fourth quarter. Private Advisor Group LLC now owns 4,567 shares of the company’s stock valued at $249,000 after acquiring an additional 481 shares during the period. Finally, SG Americas Securities LLC grew its position in Covenant Logistics Group by 34.0% during the fourth quarter. SG Americas Securities LLC now owns 4,715 shares of the company’s stock valued at $257,000 after acquiring an additional 1,196 shares during the period. Institutional investors and hedge funds own 83.72% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on CVLG shares. Stephens restated an “overweight” rating and set a $36.00 price target on shares of Covenant Logistics Group in a research note on Friday, January 24th. TD Cowen dropped their price target on Covenant Logistics Group from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, April 25th.

Covenant Logistics Group Stock Performance

Shares of NASDAQ:CVLG opened at $23.35 on Tuesday. The firm has a market capitalization of $619.94 million, a PE ratio of 18.03 and a beta of 1.53. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.10 and a quick ratio of 1.07. The business has a 50-day moving average of $21.02 and a two-hundred day moving average of $25.39. Covenant Logistics Group, Inc. has a 12 month low of $17.46 and a 12 month high of $30.77.

Covenant Logistics Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend is Friday, June 6th. Covenant Logistics Group’s dividend payout ratio is presently 20.14%.

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.