State of New Jersey Common Pension Fund D Reduces Stock Position in Hub Group, Inc. (NASDAQ:HUBG)

State of New Jersey Common Pension Fund D cut its holdings in Hub Group, Inc. (NASDAQ:HUBG) by 32.4% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 43,126 shares of the transportation company’s stock after selling 20,646 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Hub Group were worth $1,857,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Family Firm Inc. purchased a new stake in shares of Hub Group during the 2nd quarter valued at about $26,000. Silicon Valley Capital Partners raised its position in shares of Hub Group by 100.6% during the 1st quarter. Silicon Valley Capital Partners now owns 682 shares of the transportation company’s stock valued at $29,000 after buying an additional 342 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Hub Group by 81.5% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 744 shares of the transportation company’s stock valued at $32,000 after buying an additional 334 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Hub Group during the 1st quarter valued at about $38,000. Finally, Adirondack Trust Co. raised its position in shares of Hub Group by 100.0% during the 4th quarter. Adirondack Trust Co. now owns 1,000 shares of the transportation company’s stock valued at $92,000 after buying an additional 500 shares in the last quarter. 46.77% of the stock is currently owned by hedge funds and other institutional investors.

Hub Group Price Performance

NASDAQ HUBG opened at $45.66 on Monday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.32 and a current ratio of 1.32. The firm’s 50 day moving average price is $44.53 and its 200-day moving average price is $43.06. Hub Group, Inc. has a 52-week low of $31.73 and a 52-week high of $48.39. The company has a market cap of $2.85 billion, a PE ratio of 21.74 and a beta of 0.89.

Hub Group (NASDAQ:HUBG) last released its quarterly earnings data on Thursday, August 1st. The transportation company reported $0.47 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.47. Hub Group had a net margin of 2.89% and a return on equity of 7.37%. The firm had revenue of $986.50 million for the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the firm earned $0.72 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Sell-side analysts forecast that Hub Group, Inc. will post 1.93 EPS for the current fiscal year.

Hub Group Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Friday, September 6th will be given a dividend of $0.125 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.50 dividend on an annualized basis and a yield of 1.10%. Hub Group’s payout ratio is 23.81%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on HUBG shares. Benchmark restated a “buy” rating and set a $47.00 target price on shares of Hub Group in a research report on Tuesday, September 17th. UBS Group upped their price target on shares of Hub Group from $42.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of Hub Group from $43.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Evercore ISI reiterated an “in-line” rating and set a $44.00 price target on shares of Hub Group in a report on Tuesday, June 25th. Finally, TD Cowen downgraded shares of Hub Group from a “buy” rating to a “hold” rating and cut their price target for the company from $50.00 to $43.00 in a report on Thursday, July 18th. Ten investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $45.19.

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.