California Public Employees Retirement System increased its position in Hub Group Inc (NASDAQ:HUBG) by 8.1% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 83,003 shares of the transportation company’s stock after buying an additional 6,203 shares during the quarter. California Public Employees Retirement System’s holdings in Hub Group were worth $3,565,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Zions Bancorporation purchased a new position in shares of Hub Group in the third quarter valued at $143,000. Quantbot Technologies LP raised its holdings in Hub Group by 37.8% in the second quarter. Quantbot Technologies LP now owns 3,338 shares of the transportation company’s stock valued at $128,000 after acquiring 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 second quarter. Public Employees Retirement System of Ohio now owns 5,079 shares of the transportation company’s stock valued at $195,000 after acquiring an additional 573 shares in the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in Hub Group in the third quarter valued at $278,000. Finally, Ramsey Quantitative Systems acquired a new stake in Hub Group in the second quarter valued at $253,000. Institutional investors and hedge funds own 93.84% of the company’s stock.
HUBG has been the topic of several recent analyst reports. Barclays reaffirmed a “sell” rating and issued a $45.00 price target on shares of Hub Group in a report on Wednesday, December 13th. Robert W. Baird reaffirmed a “hold” rating and issued a $45.00 price target on shares of Hub Group in a report on Friday, October 6th. Loop Capital initiated coverage on shares of Hub Group in a report on Tuesday, October 3rd. They issued a “hold” rating and a $47.00 price target on the stock. Buckingham Research initiated coverage on shares of Hub Group in a report on Friday, October 20th. They issued a “neutral” rating and a $43.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price target on shares of Hub Group from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $47.58.
Hub Group (NASDAQ:HUBG) last issued 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 company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.03 billion. Hub Group had a net margin of 1.39% and a return on equity of 8.87%. The firm’s revenue was up 13.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. sell-side analysts anticipate that Hub Group Inc will post 1.7 EPS for the current fiscal year.
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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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