Bank of America Corp DE Sells 55,361 Shares of Hub Group, Inc. (NASDAQ:HUBG)

Bank of America Corp DE cut its stake in Hub Group, Inc. (NASDAQ:HUBG - Free Report) by 11.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 433,877 shares of the transportation company's stock after selling 55,361 shares during the quarter. Bank of America Corp DE owned 0.71% of Hub Group worth $19,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. boosted its position in Hub Group by 48.4% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 950 shares of the transportation company's stock worth $42,000 after acquiring an additional 310 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Hub Group by 286.2% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,541 shares of the transportation company's stock valued at $68,000 after buying an additional 1,142 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Hub Group by 803.3% during the 4th quarter. Sterling Capital Management LLC now owns 1,888 shares of the transportation company's stock valued at $84,000 after purchasing an additional 1,679 shares during the last quarter. Blue Trust Inc. lifted its holdings in Hub Group by 24.8% during the 4th quarter. Blue Trust Inc. now owns 2,261 shares of the transportation company's stock valued at $103,000 after purchasing an additional 450 shares during the last quarter. Finally, KBC Group NV lifted its holdings in Hub Group by 35.3% during the 4th quarter. KBC Group NV now owns 2,568 shares of the transportation company's stock valued at $114,000 after purchasing an additional 670 shares during the last quarter. 46.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HUBG has been the subject of several research reports. Benchmark cut their price target on Hub Group from $40.00 to $33.13 and set a "buy" rating for the company in a report on Friday, May 9th. Barclays lowered their price objective on Hub Group from $45.00 to $40.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. TD Cowen lowered their price objective on Hub Group from $40.00 to $36.00 and set a "hold" rating on the stock in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Hub Group in a research report on Friday, March 7th. They issued a "hold" rating and a $41.00 price target on the stock. Finally, Susquehanna decreased their price target on Hub Group from $55.00 to $48.00 and set a "positive" rating on the stock in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.68.

Hub Group Trading Down 2.1%

Shares of HUBG stock traded down $0.73 during mid-day trading on Friday, reaching $33.32. 412,260 shares of the stock traded hands, compared to its average volume of 536,402. The stock's fifty day simple moving average is $34.23 and its two-hundred day simple moving average is $41.30. Hub Group, Inc. has a 1-year low of $30.75 and a 1-year high of $53.21. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 19.60 and a beta of 1.13. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 0.10.

Hub Group (NASDAQ:HUBG - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The transportation company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.02. Hub Group had a return on equity of 7.10% and a net margin of 2.64%. The firm had revenue of $915.22 million for the quarter, compared to analyst estimates of $973.86 million. During the same period last year, the firm posted $0.44 earnings per share. The business's revenue for the quarter was down 8.5% on a year-over-year basis. On average, research analysts anticipate that Hub Group, Inc. will post 2.2 EPS for the current fiscal year.

Hub Group Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Tuesday, March 18th were issued a $0.125 dividend. The ex-dividend date was Tuesday, March 18th. This represents a $0.50 dividend on an annualized basis and a yield of 1.50%. Hub Group's payout ratio is currently 29.41%.

About Hub Group

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.