State Board of Administration of Florida Retirement System Has $1,232,000 Stake in Hub Group Inc. (HUBG)
State Board of Administration of Florida Retirement System lowered its stake in Hub Group Inc. (NASDAQ:HUBG) by 9.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,107 shares of the company’s stock after selling 3,503 shares during the period. State Board of Administration of Florida Retirement System owned 0.09% of Hub Group worth $1,232,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBG. BlackRock Institutional Trust Company N.A. raised its position in Hub Group by 34.1% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,387,649 shares of the company’s stock valued at $56,602,000 after buying an additional 352,765 shares during the last quarter. BlackRock Group LTD raised its position in Hub Group by 9.9% in the first quarter. BlackRock Group LTD now owns 79,518 shares of the company’s stock valued at $3,244,000 after buying an additional 7,180 shares during the last quarter. Teachers Advisors Inc. raised its position in Hub Group by 21.3% in the first quarter. Teachers Advisors Inc. now owns 335,015 shares of the company’s stock valued at $13,665,000 after buying an additional 58,799 shares during the last quarter. Rothschild Asset Management Inc. raised its position in Hub Group by 26.2% in the second quarter. Rothschild Asset Management Inc. now owns 148,714 shares of the company’s stock valued at $5,706,000 after buying an additional 30,905 shares during the last quarter. Finally, HBK Investments L P purchased a new position in Hub Group during the first quarter valued at about $855,000. Hedge funds and other institutional investors own 95.85% of the company’s stock.
Shares of Hub Group Inc. (NASDAQ:HUBG) traded down 1.15% during mid-day trading on Tuesday, reaching $40.53. 107,988 shares of the company’s stock were exchanged. Hub Group Inc. has a one year low of $28.19 and a one year high of $43.51. The stock has a 50-day moving average of $41.10 and a 200 day moving average of $39.65. The firm has a market capitalization of $1.39 billion, a P/E ratio of 17.68 and a beta of 1.12.
Hub Group (NASDAQ:HUBG) last issued its earnings results on Tuesday, July 26th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The business earned $855.60 million during the quarter, compared to analyst estimates of $881.40 million. Hub Group had a return on equity of 13.34% and a net margin of 2.34%. Hub Group’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.51 earnings per share. On average, analysts forecast that Hub Group Inc. will post $2.29 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. 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 note on Monday, September 12th. Zacks Investment Research lowered shares of Hub Group from a “hold” rating to a “sell” rating in a research note on Wednesday, June 29th. BMO Capital Markets reiterated a “hold” rating and issued a $40.00 price objective on shares of Hub Group in a research note on Wednesday, July 27th. Finally, Cowen and Company assumed coverage on shares of Hub Group in a research note on Wednesday, August 17th. They issued a “market perform” rating and a $43.00 price objective for the company. One analyst has rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus 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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