Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 19,810 shares of the transportation company’s stock, valued at approximately $5,734,000.
Other large investors have also added to or reduced their stakes in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in shares of J.B. Hunt Transport Services during the 2nd quarter valued at $287,581,000. Bank of Nova Scotia purchased a new position in shares of J.B. Hunt Transport Services during the 2nd quarter valued at $7,788,000. Daiichi Life Insurance Co. Ltd. bought a new position in J.B. Hunt Transport Services in the 2nd quarter worth $898,000. Commerce Bank bought a new position in J.B. Hunt Transport Services in the 2nd quarter worth $1,457,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in J.B. Hunt Transport Services in the 2nd quarter worth $196,000. Hedge funds and other institutional investors own 74.95% of the company’s stock.
Insider Activity at J.B. Hunt Transport Services
In other news, EVP Brian Webb sold 1,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $284.01, for a total transaction of $426,015.00. Following the completion of the transaction, the executive vice president directly owned 15,881 shares in the company, valued at approximately $4,510,362.81. This represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP David Keefauver sold 703 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $285.13, for a total transaction of $200,446.39. Following the completion of the transaction, the executive vice president directly owned 790 shares of the company’s stock, valued at approximately $225,252.70. This trade represents a 47.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.50% of the stock is owned by corporate insiders.
J.B. Hunt Transport Services Price Performance
J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) last issued its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.20. The firm had revenue of $3.50 billion for the quarter, compared to analysts’ expectations 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 revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.31 earnings per share. Analysts forecast that J.B. Hunt Transport Services, Inc. will post 7.75 earnings per share for the current fiscal year.
J.B. Hunt Transport Services Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were paid a $0.45 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.80 dividend on an annualized basis and a yield of 0.7%. J.B. Hunt Transport Services’s payout ratio is presently 25.50%.
Analyst Ratings Changes
JBHT has been the topic of several research analyst reports. The Goldman Sachs Group set a $261.00 price objective on J.B. Hunt Transport Services in a research report on Thursday, July 16th. Citigroup reiterated a “market perform” rating on shares of J.B. Hunt Transport Services in a research report on Monday, July 20th. JPMorgan Chase & Co. lifted their target price on J.B. Hunt Transport Services from $280.00 to $313.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Susquehanna set a $345.00 price target on J.B. Hunt Transport Services in a report on Thursday, July 16th. Finally, Wells Fargo & Company upped their price target on J.B. Hunt Transport Services from $310.00 to $335.00 and gave the stock an “overweight” rating in a research note on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $286.30.
Get Our Latest Research Report on JBHT
J.B. Hunt Transport Services Profile
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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