Retirement Systems of Alabama Sells 3,200 Shares of Hub Group, Inc. (NASDAQ:HUBG)

Posted by on Jul 28th, 2023

Retirement Systems of Alabama lowered its stake in shares of Hub Group, Inc. (NASDAQ:HUBG – Free Report) by 6.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,523 shares of the transportation company’s stock after selling 3,200 shares during the quarter. Retirement Systems of Alabama owned about 0.13% of Hub Group worth $3,737,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in HUBG. Exchange Traded Concepts LLC acquired a new stake in Hub Group in the 1st quarter valued at $27,000. Lazard Asset Management LLC bought a new stake in Hub Group during the first quarter valued at $46,000. Point72 Hong Kong Ltd purchased a new position in Hub Group in the 1st quarter worth $103,000. State of Wyoming bought a new position in shares of Hub Group during the fourth quarter valued at about $131,000. Finally, Ronald Blue Trust Inc. raised its holdings in Hub Group by 52.9% in the 1st quarter. Ronald Blue Trust Inc. now owns 2,267 shares of the transportation company’s stock worth $180,000 after purchasing an additional 784 shares in the last quarter. 93.08% of the stock is owned by institutional investors.

Hub Group Price Performance

Shares of HUBG opened at $86.75 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a fifty day moving average price of $78.16 and a 200 day moving average price of $82.28. The company has a market cap of $2.89 billion, a P/E ratio of 8.73 and a beta of 0.90. Hub Group, Inc. has a 12 month low of $67.77 and a 12 month high of $104.67.

Hub Group (NASDAQ:HUBG – Get Free Report) last announced its earnings results on Thursday, April 27th. The transportation company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.86 by $0.02. Hub Group had a return on equity of 20.99% and a net margin of 6.38%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter in the previous year, the company earned $2.58 earnings per share. The firm’s quarterly revenue was down 7.6% compared to the same quarter last year. On average, research analysts forecast that Hub Group, Inc. will post 6.39 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on HUBG shares. Evercore ISI dropped their target price on shares of Hub Group from $95.00 to $91.00 in a report on Tuesday, June 27th. Susquehanna lifted their price target on shares of Hub Group from $95.00 to $117.00 in a research note on Thursday, June 29th. Morgan Stanley dropped their price target on Hub Group from $90.00 to $89.00 in a research report on Thursday, July 6th. Wells Fargo & Company lowered their target price on Hub Group from $100.00 to $95.00 and set an “overweight” rating for the company in a report on Wednesday, April 12th. Finally, Barclays decreased their price target on Hub Group from $86.00 to $80.00 in a research note on Monday, May 1st. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Hub Group presently has an average rating of “Moderate Buy” and a consensus target price of $101.29.

Hub Group Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Hub Group (NASDAQ:HUBG)

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