Handelsbanken Fonder AB Makes New $342,000 Investment in Hub Group Inc (NASDAQ:HUBG)

Handelsbanken Fonder AB purchased a new position in Hub Group Inc (NASDAQ:HUBG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,144 shares of the transportation company’s stock, valued at approximately $342,000. Several other hedge funds […]

Handelsbanken Fonder AB purchased a new position in Hub Group Inc (NASDAQ:HUBG) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 7,144 shares of the transportation company’s stock, valued at approximately $342,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of HUBG. Swiss National Bank raised its holdings in shares of Hub Group by 1.3% in the first quarter. Swiss National Bank now owns 64,700 shares of the transportation company’s stock worth $2,942,000 after buying an additional 800 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Hub Group by 28.0% in the first quarter. Mutual of America Capital Management LLC now owns 1,516 shares of the transportation company’s stock worth $69,000 after buying an additional 332 shares during the last quarter. State Street Corp raised its holdings in shares of Hub Group by 7.8% in the first quarter. State Street Corp now owns 1,164,450 shares of the transportation company’s stock worth $52,948,000 after buying an additional 84,290 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Hub Group by 563.5% in the first quarter. JPMorgan Chase & Co. now owns 487,036 shares of the transportation company’s stock worth $22,145,000 after buying an additional 413,634 shares during the last quarter. Finally, Vident Investment Advisory LLC purchased a new position in shares of Hub Group in the first quarter worth $1,404,000. 90.76% of the stock is owned by institutional investors and hedge funds.

In other news, Director Charles R. Reaves sold 6,000 shares of Hub Group stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $52.84, for a total value of $317,040.00. Following the sale, the director now owns 63,351 shares in the company, valued at $3,347,466.84. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.12% of the stock is owned by company insiders.

A number of research analysts have issued reports on HUBG shares. Zacks Investment Research raised shares of Hub Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 4th. Stephens raised their target price on shares of Hub Group from $54.00 to $57.00 in a report on Thursday, July 9th. Morgan Stanley raised their target price on shares of Hub Group from $40.00 to $44.00 and gave the stock an “equal weight” rating in a report on Monday, August 3rd. Cowen raised their target price on shares of Hub Group from $53.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Finally, Evercore ISI started coverage on shares of Hub Group in a report on Monday, August 10th. They set an “inline” rating for the company. Two research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $54.00.

HUBG opened at $50.52 on Wednesday. Hub Group Inc has a fifty-two week low of $36.51 and a fifty-two week high of $60.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.34 and a current ratio of 1.34. The company has a fifty day moving average of $52.09 and a two-hundred day moving average of $48.24. The stock has a market capitalization of $1.73 billion, a price-to-earnings ratio of 20.96 and a beta of 1.06.

Hub Group (NASDAQ:HUBG) last released its quarterly earnings data on Thursday, July 30th. The transportation company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.37. Hub Group had a net margin of 2.34% and a return on equity of 8.34%. The company had revenue of $779.24 million during the quarter, compared to analysts’ expectations of $780.00 million. On average, equities research analysts forecast that Hub Group Inc will post 2.39 earnings per share for the current year.

Hub Group Profile

Hub Group, Inc, an asset-light freight transportation management company, provides intermodal, trucking, truck brokerage, and other logistics services in North America. Its intermodal services include arranging for the movement of its customers’ freight in containers and trailers over long distances.

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Institutional Ownership by Quarter for Hub Group (NASDAQ:HUBG)

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