Bank of New York Mellon Corp grew its stake in Hub Group, Inc. (NASDAQ:HUBG) by 97.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,282,256 shares of the transportation company’s stock after purchasing an additional 634,448 shares during the quarter. Bank of New York Mellon Corp owned about 3.83% of Hub Group worth $55,074,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP raised its holdings in Hub Group by 37.8% in the 2nd quarter. Quantbot Technologies LP now owns 3,338 shares of the transportation company’s stock worth $128,000 after purchasing an additional 915 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Hub Group by 12.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 5,079 shares of the transportation company’s stock worth $195,000 after purchasing an additional 573 shares in the last quarter. US Bancorp DE raised its holdings in Hub Group by 235.9% in the 2nd quarter. US Bancorp DE now owns 5,525 shares of the transportation company’s stock worth $212,000 after purchasing an additional 3,880 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Hub Group in the 3rd quarter worth $278,000. Finally, Ramsey Quantitative Systems bought a new position in Hub Group in the 2nd quarter worth $253,000. Institutional investors and hedge funds own 93.78% of the company’s stock.
Several research analysts have commented on the stock. BidaskClub upgraded shares of Hub Group from a “hold” rating to a “buy” rating in a report on Saturday. Barclays upped their price objective on shares of Hub Group from $38.00 to $40.00 and gave the stock an “underweight” rating in a report on Monday, October 2nd. KeyCorp restated a “hold” rating on shares of Hub Group in a report on Tuesday, September 26th. Zacks Investment Research lowered shares of Hub Group from a “buy” rating to a “hold” rating in a report on Friday, October 6th. Finally, Loop Capital assumed coverage on shares of Hub Group in a report on Tuesday, October 3rd. They issued a “hold” rating and a $47.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $45.36.
Hub Group (NASDAQ:HUBG) last released its earnings results on Thursday, October 26th. The transportation company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.06. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Hub Group had a net margin of 1.39% and a return on equity of 8.87%. The company’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. research analysts anticipate that Hub Group, Inc. will post 1.69 earnings per share for the current fiscal year.
Hub Group Profile
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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