Lazard Asset Management LLC raised its holdings in Marten Transport, Ltd. (NASDAQ:MRTN – Get Rating) by 573.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,089 shares of the transportation company’s stock after purchasing an additional 15,401 shares during the period. Lazard Asset Management LLC’s holdings in Marten Transport were worth $304,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in MRTN. Truist Financial Corp raised its position in shares of Marten Transport by 5.9% in the 1st quarter. Truist Financial Corp now owns 16,539 shares of the transportation company’s stock valued at $294,000 after purchasing an additional 927 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Marten Transport in the 1st quarter valued at approximately $121,000. Victory Capital Management Inc. raised its position in shares of Marten Transport by 1.5% in the 1st quarter. Victory Capital Management Inc. now owns 6,114,598 shares of the transportation company’s stock valued at $108,331,000 after purchasing an additional 91,579 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Marten Transport by 14.6% in the 1st quarter. New York State Common Retirement Fund now owns 138,080 shares of the transportation company’s stock valued at $2,452,000 after purchasing an additional 17,586 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Marten Transport by 16.3% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 85,040 shares of the transportation company’s stock valued at $1,510,000 after purchasing an additional 11,894 shares in the last quarter. 69.75% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
MRTN has been the topic of several research reports. Stephens upped their price target on Marten Transport from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Tuesday, October 18th. StockNews.com raised Marten Transport from a “hold” rating to a “buy” rating in a research report on Wednesday, November 9th. Finally, Vertical Research lowered Marten Transport from a “buy” rating to a “hold” rating and upped their price target for the company from $24.00 to $25.00 in a research report on Wednesday, August 17th.
Marten Transport Stock Up 1.9 %
Marten Transport (NASDAQ:MRTN – Get Rating) last announced its quarterly earnings data on Monday, October 17th. The transportation company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). The business had revenue of $324.45 million during the quarter, compared to analysts’ expectations of $319.97 million. Marten Transport had a return on equity of 16.58% and a net margin of 9.07%. The firm’s revenue was up 29.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, sell-side analysts expect that Marten Transport, Ltd. will post 1.36 EPS for the current fiscal year.
Marten Transport Profile
Marten Transport, Ltd. operates as a temperature-sensitive truckload carrier for shippers in the United States, Canada, and Mexico. It operates through four segments: Truckload, Dedicated, Intermodal, and Brokerage. The Truckload segment transports food and other consumer packaged goods that require a temperature-controlled or insulated environment.
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