Principal Financial Group Inc. lifted its holdings in Hub Group, Inc. (NASDAQ:HUBG) by 1.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 482,738 shares of the transportation company’s stock after acquiring an additional 7,562 shares during the period. Principal Financial Group Inc. owned approximately 1.40% of Hub Group worth $31,851,000 as of its most recent filing with the SEC.
Several other hedge funds have also added to or reduced their stakes in the stock. Parallax Volatility Advisers L.P. bought a new stake in Hub Group during the first quarter worth about $2,116,000. Voloridge Investment Management LLC bought a new stake in Hub Group during the first quarter worth about $1,494,000. Exchange Traded Concepts LLC lifted its position in Hub Group by 10.5% during the second quarter. Exchange Traded Concepts LLC now owns 19,227 shares of the transportation company’s stock worth $1,269,000 after purchasing an additional 1,827 shares during the period. Captrust Financial Advisors lifted its position in Hub Group by 3,516.5% during the first quarter. Captrust Financial Advisors now owns 2,857 shares of the transportation company’s stock worth $192,000 after purchasing an additional 2,778 shares during the period. Finally, Holocene Advisors LP bought a new position in shares of Hub Group in the first quarter worth about $733,000. Institutional investors and hedge funds own 91.39% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Hub Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 3rd. Stifel Nicolaus assumed coverage on Hub Group in a report on Monday, June 21st. They issued a “buy” rating on the stock. Barclays increased their target price on Hub Group from $70.00 to $72.00 and gave the stock an “equal weight” rating in a report on Monday, August 30th. Wells Fargo & Company raised their price objective on Hub Group from $81.00 to $86.00 and gave the company an “overweight” rating in a research note on Friday, July 30th. Finally, Evercore ISI reiterated a “buy” rating and set a $83.00 target price on shares of Hub Group in a research note on Friday, July 30th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Hub Group has a consensus rating of “Buy” and an average price target of $76.64.
Hub Group (NASDAQ:HUBG) last issued its quarterly earnings results on Thursday, July 29th. The transportation company reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.07. The company had revenue of $981.32 million for the quarter, compared to analysts’ expectations of $958.20 million. Hub Group had a return on equity of 8.18% and a net margin of 2.41%. Equities research analysts expect that Hub Group, Inc. will post 3.66 earnings per share for the current fiscal year.
About Hub Group
Hub Group, Inc engages in the provision of multi-modal transportation and logistics solutions. Its solutions include intermodal transportation, truck brokerage, asset trucking, and dedicated trucking. It serves the retail, e-commerce, paper, chemical, healthcare, glass, private equity, and automotive industries.
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