Healthcare of Ontario Pension Plan Trust Fund Makes New Investment in Hub Group, Inc. (NASDAQ:HUBG)

Posted by Defense World Staff on Feb 27th, 2023

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Hub Group, Inc. (NASDAQ:HUBG – Get Rating) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 16,000 shares of the transportation company’s stock, valued at approximately $1,104,000.

Other hedge funds have also recently made changes to their positions in the company. Ronald Blue Trust Inc. bought a new stake in shares of Hub Group in the second quarter valued at $26,000. Quadrant Capital Group LLC raised its stake in shares of Hub Group by 58.1% in the second quarter. Quadrant Capital Group LLC now owns 400 shares of the transportation company’s stock valued at $28,000 after buying an additional 147 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Hub Group by 315.0% in the second quarter. Pinebridge Investments L.P. now owns 415 shares of the transportation company’s stock valued at $29,000 after buying an additional 315 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Hub Group in the first quarter valued at $46,000. Finally, CWM LLC raised its stake in shares of Hub Group by 49.0% in the third quarter. CWM LLC now owns 785 shares of the transportation company’s stock valued at $54,000 after buying an additional 258 shares during the period. 94.46% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on HUBG shares. StockNews.com lowered Hub Group from a “buy” rating to a “hold” rating in a research note on Wednesday, February 22nd. Robert W. Baird boosted their price objective on Hub Group from $96.00 to $108.00 in a research note on Friday, February 3rd. Wells Fargo & Company boosted their price objective on Hub Group from $93.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. KeyCorp boosted their price objective on Hub Group from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Finally, Cowen boosted their price objective on Hub Group from $121.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, February 3rd. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $102.86.

Hub Group Price Performance

HUBG opened at $93.92 on Monday. The stock has a 50-day moving average price of $86.25 and a 200-day moving average price of $80.89. Hub Group, Inc. has a 12-month low of $60.81 and a 12-month high of $104.67. The company has a current ratio of 1.53, a quick ratio of 1.38 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $3.12 billion, a P/E ratio of 8.83 and a beta of 0.96.

Hub Group (NASDAQ:HUBG – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The transportation company reported $2.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.06. Hub Group had a return on equity of 23.49% and a net margin of 6.68%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.38 billion. During the same period in the prior year, the business earned $2.48 EPS. The company’s revenue for the quarter was up 2.3% compared to the same quarter last year. Equities analysts predict that Hub Group, Inc. will post 7.85 earnings per share for the current fiscal year.

About Hub Group

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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.