California Public Employees Retirement System reduced its stake in shares of Hub Group Inc. (NASDAQ:HUBG) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 75,600 shares of the company’s stock after selling 2,200 shares during the period. California Public Employees Retirement System owned about 0.22% of Hub Group worth $2,901,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Acrospire Investment Management LLC acquired a new position in Hub Group during the first quarter valued at approximately $114,000. Huntington National Bank raised its position in Hub Group by 25.6% in the second quarter. Huntington National Bank now owns 3,156 shares of the company’s stock valued at $121,000 after buying an additional 644 shares during the period. BlackRock Inc. raised its position in Hub Group by 117.6% in the first quarter. BlackRock Inc. now owns 3,497 shares of the company’s stock valued at $143,000 after buying an additional 1,890 shares during the period. BlackRock Japan Co. Ltd raised its position in Hub Group by 390.5% in the first quarter. BlackRock Japan Co. Ltd now owns 3,816 shares of the company’s stock valued at $156,000 after buying an additional 3,038 shares during the period. Finally, Bayesian Capital Management LP acquired a new position in Hub Group during the first quarter valued at approximately $210,000. 95.85% of the stock is owned by institutional investors and hedge funds.
Hub Group Inc. (NASDAQ:HUBG) traded up 0.992% during mid-day trading on Wednesday, hitting $40.195. 145,618 shares of the company’s stock were exchanged. Hub Group Inc. has a 52 week low of $28.19 and a 52 week high of $43.51. The firm has a 50 day moving average of $41.02 and a 200 day moving average of $39.78. The stock has a market capitalization of $1.38 billion, a P/E ratio of 17.537 and a beta of 1.12.
Hub Group (NASDAQ:HUBG) last released its earnings results on Tuesday, July 26th. The company reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The firm earned $855.60 million during the quarter, compared to analysts’ expectations of $881.40 million. Hub Group had a net margin of 2.34% and a return on equity of 13.34%. The business’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 EPS. Equities analysts forecast that Hub Group Inc. will post $2.29 earnings per share for the current fiscal year.
Several analysts recently weighed in on HUBG shares. Zacks Investment Research upgraded shares of Hub Group from a “sell” rating to a “hold” rating in a research report on Thursday, July 7th. Barclays PLC lifted their price objective on shares of Hub Group from $42.00 to $43.00 and gave the company an “underweight” rating in a research report on Monday, September 12th. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price objective on shares of Hub Group in a research report on Wednesday, July 27th. Finally, Cowen and Company started coverage on shares of Hub Group in a research report on Wednesday, August 17th. They issued a “market perform” rating and a $43.00 price objective on the stock. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $40.00.
About Hub Group
Hub Group, Inc is an asset-light freight transportation management company. The Company offers intermodal, truck brokerage and logistics services. The Company operates through two business segments: Mode and Hub. The Mode segment markets and operates its freight transportation services, consisting of intermodal, truck brokerage and logistics, primarily through agents who enter into contractual arrangements with Mode LLC.
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