SummitTX Capital L.P. bought a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 47,115 shares of the transportation company’s stock, valued at approximately $9,984,000.
A number of other hedge funds have also bought and sold shares of JBHT. Keybank National Association OH grew its holdings in shares of J.B. Hunt Transport Services by 2.7% during the first quarter. Keybank National Association OH now owns 1,765 shares of the transportation company’s stock valued at $374,000 after buying an additional 46 shares during the last quarter. Root Financial Partners LLC raised its stake in J.B. Hunt Transport Services by 25.4% in the 4th quarter. Root Financial Partners LLC now owns 232 shares of the transportation company’s stock worth $45,000 after acquiring an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its position in J.B. Hunt Transport Services by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,622 shares of the transportation company’s stock worth $1,827,000 after acquiring an additional 47 shares during the period. CIBC Private Wealth Group LLC lifted its position in J.B. Hunt Transport Services by 34.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company’s stock worth $37,000 after acquiring an additional 48 shares during the period. Finally, Hartford Funds Management Co LLC grew its stake in J.B. Hunt Transport Services by 1.2% during the 4th quarter. Hartford Funds Management Co LLC now owns 4,189 shares of the transportation company’s stock valued at $814,000 after purchasing an additional 49 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company’s stock.
Insider Activity
In other J.B. Hunt Transport Services news, EVP David Keefauver sold 703 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $285.13, for a total transaction of $200,446.39. Following the transaction, the executive vice president owned 790 shares in the company, valued at approximately $225,252.70. This represents a 47.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Webb sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $284.01, for a total value of $426,015.00. Following the completion of the sale, the executive vice president directly owned 15,881 shares in the company, valued at approximately $4,510,362.81. The trade was a 8.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 15,847 shares of company stock worth $4,162,861. 2.50% of the stock is currently owned by corporate insiders.
J.B. Hunt Transport Services Price Performance
J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) last released its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.71 by $0.20. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.26 billion. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The business’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 EPS. As a group, sell-side analysts expect that J.B. Hunt Transport Services, Inc. will post 7.71 EPS for the current year.
J.B. Hunt Transport Services Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.45 per share. The ex-dividend date is Friday, August 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.6%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is 25.50%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on JBHT shares. Raymond James Financial raised their price objective on J.B. Hunt Transport Services from $299.00 to $315.00 and gave the stock an “outperform” rating in a research note on Thursday, July 16th. Evercore reiterated an “outperform” rating and issued a $248.00 target price on shares of J.B. Hunt Transport Services in a research report on Monday, May 11th. Citizens Jmp began coverage on shares of J.B. Hunt Transport Services in a research report on Wednesday, July 15th. They set a “market perform” rating for the company. TD Cowen lifted their price objective on shares of J.B. Hunt Transport Services from $265.00 to $297.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of J.B. Hunt Transport Services in a report on Tuesday, July 21st. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $286.30.
Get Our Latest Stock Report on J.B. Hunt Transport Services
About J.B. Hunt Transport Services
J.B. Hunt Transport Services, Inc is a leading provider of transportation and logistics solutions headquartered in Lowell, Arkansas. The company offers a comprehensive suite of services designed to move freight efficiently across North America, including intermodal, dedicated contract services, full truckload, less-than-truckload (LTL), final mile delivery and specialized transport.
In its intermodal segment, J.B. Hunt leverages a network of rail and truck assets to transport containers and trailers on major U.S.
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