Ameriprise Financial Inc. raised its holdings in Hub Group, Inc. (NASDAQ:HUBG) by 41.7% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 256,085 shares of the transportation company’s stock after buying an additional 75,298 shares during the period. Ameriprise Financial Inc. owned about 0.75% of Hub Group worth $9,840,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in HUBG. BlackRock Inc. raised its stake in Hub Group by 19,453.7% in the first quarter. BlackRock Inc. now owns 5,038,204 shares of the transportation company’s stock valued at $233,773,000 after buying an additional 5,012,438 shares during the period. Nuance Investments LLC raised its stake in Hub Group by 229.7% in the second quarter. Nuance Investments LLC now owns 1,517,579 shares of the transportation company’s stock valued at $58,199,000 after buying an additional 1,057,338 shares during the period. FMR LLC raised its stake in Hub Group by 10.7% in the first quarter. FMR LLC now owns 3,270,552 shares of the transportation company’s stock valued at $151,754,000 after buying an additional 317,119 shares during the period. Bank of New York Mellon Corp raised its stake in Hub Group by 42.7% in the second quarter. Bank of New York Mellon Corp now owns 647,808 shares of the transportation company’s stock valued at $24,843,000 after buying an additional 193,994 shares during the period. Finally, Bank of Montreal Can raised its stake in Hub Group by 345.4% in the second quarter. Bank of Montreal Can now owns 235,492 shares of the transportation company’s stock valued at $9,031,000 after buying an additional 182,622 shares during the period. Hedge funds and other institutional investors own 91.06% of the company’s stock.
In related news, Director Charles R. Reaves sold 6,000 shares of Hub Group stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $37.60, for a total value of $225,600.00. Following the sale, the director now owns 67,947 shares of the company’s stock, valued at approximately $2,554,807.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.36% of the company’s stock.
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Hub Group, Inc. (NASDAQ HUBG) opened at 40.70 on Friday. Hub Group, Inc. has a 52 week low of $33.17 and a 52 week high of $52.50. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 24.24 and a beta of 1.41. The stock’s 50 day moving average price is $40.29 and its 200-day moving average price is $38.62.
Hub Group (NASDAQ:HUBG) last posted its quarterly earnings results on Wednesday, July 26th. The transportation company reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The company had revenue of $924.50 million during the quarter, compared to the consensus estimate of $930.59 million. Hub Group had a return on equity of 9.49% and a net margin of 1.50%. The company’s revenue for the quarter was up 8.1% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. On average, equities research analysts forecast that Hub Group, Inc. will post $1.48 earnings per share for the current fiscal year.
HUBG has been the topic of several research analyst reports. Zacks Investment Research upgraded Hub Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Wednesday, July 5th. Stifel Nicolaus restated a “buy” rating and issued a $45.00 price objective on shares of Hub Group in a research note on Thursday, September 7th. Cowen and Company restated a “hold” rating and issued a $40.00 price objective on shares of Hub Group in a research note on Monday, August 28th. BMO Capital Markets restated a “hold” rating and issued a $42.00 price objective on shares of Hub Group in a research note on Wednesday, September 20th. Finally, KeyCorp restated a “hold” rating on shares of Hub Group in a research note on Tuesday, September 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $45.00.
About Hub Group
Hub Group, Inc is an asset-light freight transportation management company. The Company offers intermodal, truck brokerage and logistics services. It 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 entering into contractual arrangements with Mode Transportation, LLC (Mode LLC).
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