Bank of New York Mellon Corp Sells 64,609 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Bank of New York Mellon Corp decreased its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 12.2% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 465,007 shares of the transportation company’s stock after selling 64,609 shares during the period. Bank of New York Mellon Corp owned approximately 0.48% of J.B. Hunt Transport Services worth $66,775,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Summit Securities Group LLC grew its stake in shares of J.B. Hunt Transport Services by 19,600.0% during the first quarter. Summit Securities Group LLC now owns 197 shares of the transportation company’s stock worth $29,000 after purchasing an additional 196 shares during the period. Private Trust Co. NA increased its stake in shares of J.B. Hunt Transport Services by 57.8% in the 2nd quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 74 shares during the last quarter. Assetmark Inc. increased its stake in shares of J.B. Hunt Transport Services by 418.6% in the 2nd quarter. Assetmark Inc. now owns 223 shares of the transportation company’s stock valued at $32,000 after acquiring an additional 180 shares during the last quarter. Allworth Financial LP raised its position in shares of J.B. Hunt Transport Services by 167.0% in the 1st quarter. Allworth Financial LP now owns 235 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 147 shares during the period. Finally, National Pension Service boosted its stake in J.B. Hunt Transport Services by 74.9% during the 1st quarter. National Pension Service now owns 306 shares of the transportation company’s stock worth $45,000 after acquiring an additional 131 shares during the last quarter. 74.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Darren P. Field sold 6,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $169.00, for a total value of $1,098,500.00. Following the completion of the transaction, the executive vice president owned 12,976 shares of the company’s stock, valued at approximately $2,192,944. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company’s stock.

J.B. Hunt Transport Services Stock Up 1.1%

JBHT stock opened at $170.96 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $16.28 billion, a P/E ratio of 29.63, a P/E/G ratio of 2.33 and a beta of 1.27. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $122.79 and a fifty-two week high of $200.40. The business has a 50-day moving average of $148.42 and a 200-day moving average of $144.96.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its earnings results on Wednesday, October 15th. The transportation company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.46 by $0.30. J.B. Hunt Transport Services had a return on equity of 15.16% and a net margin of 4.75%.The firm had revenue of ($5,136.05) million for the quarter, compared to analysts’ expectations of $3.02 billion. During the same quarter in the previous year, the business posted $1.49 EPS. The business’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services announced that its board has initiated a stock repurchase program on Wednesday, October 22nd that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the transportation company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

J.B. Hunt Transport Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be issued a dividend of $0.44 per share. The ex-dividend date is Friday, November 7th. This represents a $1.76 annualized dividend and a yield of 1.0%. J.B. Hunt Transport Services’s dividend payout ratio is presently 30.50%.

Wall Street Analyst Weigh In

JBHT has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their target price on shares of J.B. Hunt Transport Services from $170.00 to $176.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Susquehanna upped their price objective on shares of J.B. Hunt Transport Services from $145.00 to $160.00 and gave the company a “neutral” rating in a research report on Tuesday, October 21st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of J.B. Hunt Transport Services in a research note on Wednesday, October 8th. Wells Fargo & Company boosted their target price on J.B. Hunt Transport Services from $160.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, October 16th. Finally, Benchmark boosted their price objective on J.B. Hunt Transport Services from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $166.30.

J.B. Hunt Transport Services Profile

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.