Copeland Capital Management LLC Purchases 1,121 Shares of Covenant Logistics Group, Inc. $CVLG

Copeland Capital Management LLC boosted its position in shares of Covenant Logistics Group, Inc. (NYSE:CVLG) by 47.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,482 shares of the company’s stock after purchasing an additional 1,121 shares during the period. Copeland Capital Management LLC’s holdings in Covenant Logistics Group were worth $84,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. MAI Capital Management lifted its holdings in Covenant Logistics Group by 100.0% during the 1st quarter. MAI Capital Management now owns 1,500 shares of the company’s stock valued at $33,000 after purchasing an additional 750 shares during the last quarter. Oliver Luxxe Assets LLC raised its stake in shares of Covenant Logistics Group by 1.3% in the second quarter. Oliver Luxxe Assets LLC now owns 73,978 shares of the company’s stock worth $1,784,000 after acquiring an additional 958 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Covenant Logistics Group by 10.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 12,605 shares of the company’s stock worth $687,000 after acquiring an additional 1,231 shares during the last quarter. KLP Kapitalforvaltning AS raised 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 during the last quarter. Finally, Truvestments Capital LLC raised its stake in shares of Covenant Logistics Group by 24.7% in the first quarter. Truvestments Capital LLC now owns 6,918 shares of the company’s stock worth $154,000 after acquiring an additional 1,372 shares during the last quarter. 83.72% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CVLG has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Covenant Logistics Group from a “buy” rating to a “hold” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Covenant Logistics Group in a research note on Saturday, September 27th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Covenant Logistics Group has a consensus rating of “Moderate Buy” and an average target price of $33.00.

Covenant Logistics Group Stock Up 2.9%

Shares of NYSE CVLG opened at $21.59 on Friday. The stock has a market cap of $540.18 million, a P/E ratio of 16.48 and a beta of 1.39. The firm has a 50 day moving average price of $23.39 and a 200 day moving average price of $22.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.06 and a current ratio of 1.09. Covenant Logistics Group, Inc. has a 52-week low of $17.46 and a 52-week high of $30.77.

Covenant Logistics Group Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 5th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.3%. Covenant Logistics Group’s dividend payout ratio is currently 21.37%.

Covenant Logistics Group 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.