Synovus Financial Corp Sells 219 Shares of Hub Group, Inc. (NASDAQ:HUBG)

Synovus Financial Corp cut its stake in shares of Hub Group, Inc. (NASDAQ:HUBG) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,274 shares of the transportation company’s stock after selling 219 shares during the quarter. Synovus Financial Corp’s holdings in Hub Group were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of HUBG. XTX Topco Ltd purchased a new stake in shares of Hub Group during the 3rd quarter valued at $481,000. Principal Financial Group Inc. raised its position in Hub Group by 14.3% during the third quarter. Principal Financial Group Inc. now owns 783,456 shares of the transportation company’s stock valued at $35,608,000 after purchasing an additional 97,768 shares in the last quarter. WINTON GROUP Ltd raised its position in Hub Group by 53.7% during the second quarter. WINTON GROUP Ltd now owns 117,664 shares of the transportation company’s stock valued at $5,065,000 after purchasing an additional 41,119 shares in the last quarter. Quest Partners LLC bought a new stake in Hub Group during the second quarter worth about $1,708,000. Finally, State Street Corp boosted its holdings in shares of Hub Group by 0.8% in the 3rd quarter. State Street Corp now owns 2,489,503 shares of the transportation company’s stock worth $113,148,000 after purchasing an additional 20,215 shares in the last quarter. Hedge funds and other institutional investors own 46.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. TD Cowen raised their price objective on Hub Group from $43.00 to $49.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $47.00 price target on shares of Hub Group in a research note on Friday, November 1st. Evercore ISI upped their price objective on shares of Hub Group from $41.00 to $43.00 and gave the company an “in-line” rating in a research note on Thursday, October 3rd. Barclays lifted their target price on shares of Hub Group from $42.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 13th. Finally, Susquehanna lowered their price target on shares of Hub Group from $50.00 to $48.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Ten analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.83.

Hub Group Price Performance

Shares of NASDAQ HUBG opened at $49.36 on Tuesday. Hub Group, Inc. has a 1 year low of $38.07 and a 1 year high of $53.21. The stock has a market capitalization of $3.03 billion, a P/E ratio of 28.05 and a beta of 0.92. The company’s 50-day moving average is $47.50 and its 200 day moving average is $45.22. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.30 and a quick ratio of 1.30.

Hub Group (NASDAQ:HUBG) last posted its earnings results on Wednesday, October 30th. The transportation company reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. The firm had revenue of $986.89 million for the quarter, compared to the consensus estimate of $1.06 billion. Hub Group had a return on equity of 7.44% and a net margin of 2.74%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.49 EPS. On average, sell-side analysts expect that Hub Group, Inc. will post 1.91 earnings per share for the current year.

Hub Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be given a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Friday, December 6th. Hub Group’s dividend payout ratio is currently 28.41%.

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.