Summit Global Investments Cuts Position in Hub Group, Inc. (NASDAQ:HUBG)

Summit Global Investments reduced its stake in shares of Hub Group, Inc. (NASDAQ:HUBG) by 21.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,611 shares of the transportation company’s stock after selling 3,906 shares during the quarter. Summit Global Investments’ holdings in Hub Group were worth $1,343,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of HUBG. Anchor Investment Management LLC purchased a new stake in shares of Hub Group during the 4th quarter valued at about $37,000. Adirondack Trust Co. purchased a new stake in shares of Hub Group during the 3rd quarter valued at about $39,000. Exchange Traded Concepts LLC raised its holdings in shares of Hub Group by 60.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 795 shares of the transportation company’s stock valued at $62,000 after buying an additional 299 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Hub Group during the 3rd quarter valued at about $63,000. Finally, Parkside Financial Bank & Trust raised its holdings in shares of Hub Group by 20.3% during the 3rd quarter. Parkside Financial Bank & Trust now owns 861 shares of the transportation company’s stock valued at $68,000 after buying an additional 145 shares during the period. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUBG has been the topic of several analyst reports. Benchmark reiterated a “buy” rating and set a $49.00 target price on shares of Hub Group in a report on Friday, April 26th. Wells Fargo & Company lifted their price objective on Hub Group from $45.00 to $50.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. lifted their price objective on Hub Group from $43.50 to $46.00 and gave the stock a “neutral” rating in a report on Tuesday, January 9th. Stephens dropped their price objective on Hub Group from $44.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, April 26th. Finally, Evercore ISI decreased their target price on Hub Group from $46.00 to $44.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Hub Group currently has a consensus rating of “Hold” and an average target price of $46.54.

Hub Group Stock Performance

NASDAQ:HUBG traded up $0.26 during midday trading on Friday, reaching $42.54. 429,407 shares of the company traded hands, compared to its average volume of 429,836. Hub Group, Inc. has a twelve month low of $31.73 and a twelve month high of $47.58. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 20.21 and a beta of 0.90. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.28 and a quick ratio of 1.29. The company has a fifty day moving average price of $41.62 and a 200 day moving average price of $41.65.

Hub Group (NASDAQ:HUBG) last announced its quarterly earnings results on Thursday, April 25th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.04. Hub Group had a return on equity of 8.48% and a net margin of 3.28%. The company had revenue of $1,000.00 million during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. On average, analysts expect that Hub Group, Inc. will post 2.02 EPS for the current fiscal year.

Hub Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Friday, March 8th were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Thursday, March 7th. Hub Group’s dividend payout ratio is presently 23.75%.

Hub Group Profile

Hub Group, Inc, a supply chain solutions provider, offers transportation and logistics management services in North America. The company's transportation services include intermodal, truckload, less-than-truckload, flatbed, temperature-controlled, and dedicated and regional trucking, as well as final mile, railcar, small parcel, and international transportation.