Hub Group, Inc. (NASDAQ:HUBG) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its stake in shares of Hub Group, Inc. (NASDAQ:HUBG) by 4.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 550,484 shares of the transportation company’s stock after selling 27,456 shares during the quarter. Bank of New York Mellon Corp owned about 0.90% of Hub Group worth $20,461,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Hub Group during the fourth quarter valued at approximately $9,315,000. PNC Financial Services Group Inc. increased its position in shares of Hub Group by 77.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,268 shares of the transportation company’s stock worth $368,000 after purchasing an additional 3,614 shares in the last quarter. Swiss National Bank increased its position in Hub Group by 0.4% in the 4th quarter. Swiss National Bank now owns 121,100 shares of the transportation company’s stock valued at $5,396,000 after acquiring an additional 500 shares in the last quarter. Cibc World Markets Corp bought a new position in shares of Hub Group in the 4th quarter valued at about $250,000. Finally, Intech Investment Management LLC boosted its stake in Hub Group by 50.6% during the 4th quarter. Intech Investment Management LLC now owns 29,390 shares of the transportation company’s stock worth $1,310,000 after acquiring an additional 9,878 shares during the last quarter. 46.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on HUBG. JPMorgan Chase & Co. lowered their price objective on shares of Hub Group from $39.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, July 8th. Baird R W upgraded Hub Group to a “strong-buy” rating in a report on Tuesday, July 1st. Barclays dropped their price objective on Hub Group from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Monday, May 12th. Benchmark decreased their target price on Hub Group from $40.00 to $33.13 and set a “buy” rating for the company in a research report on Friday, May 9th. Finally, Robert W. Baird started coverage on Hub Group in a report on Tuesday, July 1st. They set an “outperform” rating and a $44.00 target price for the company. Six analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $42.01.

Hub Group Price Performance

Shares of Hub Group stock opened at $34.40 on Friday. The business has a 50 day simple moving average of $34.27 and a two-hundred day simple moving average of $37.42. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.36 and a quick ratio of 1.36. The stock has a market capitalization of $2.11 billion, a P/E ratio of 20.24, a PEG ratio of 1.60 and a beta of 1.13. Hub Group, Inc. has a 12 month low of $30.75 and a 12 month high of $53.21.

Hub Group (NASDAQ:HUBG) last posted its earnings results on Thursday, May 8th. The transportation company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.02. Hub Group had a return on equity of 7.01% and a net margin of 2.69%. The business had revenue of $915.22 million during the quarter, compared to the consensus estimate of $973.86 million. During the same period in the previous year, the business earned $0.44 EPS. The business’s quarterly revenue was down 8.5% on a year-over-year basis. As a group, analysts predict that Hub Group, Inc. will post 2.2 EPS for the current fiscal year.

Hub Group Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 23rd were issued a $0.125 dividend. The ex-dividend date was Monday, June 23rd. This represents a $0.50 annualized dividend and a yield of 1.45%. Hub Group’s dividend payout ratio is currently 29.41%.

Hub Group Company 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.