Primecap Management Co. CA acquired a new stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 517,710 shares of the transportation company’s stock, valued at approximately $149,841,000.
Other hedge funds have also made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in J.B. Hunt Transport Services by 74.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,643 shares of the transportation company’s stock valued at $2,314,000 after acquiring an additional 6,668 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of J.B. Hunt Transport Services by 3.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,661 shares of the transportation company’s stock worth $64,160,000 after acquiring an additional 13,729 shares during the period. Empowered Funds LLC grew its holdings in shares of J.B. Hunt Transport Services by 27.8% during the 1st quarter. Empowered Funds LLC now owns 1,770 shares of the transportation company’s stock worth $262,000 after purchasing an additional 385 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of J.B. Hunt Transport Services during the 2nd quarter worth approximately $539,000. Finally, Northwestern Mutual Wealth Management Co. increased its position in shares of J.B. Hunt Transport Services by 21.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 583 shares of the transportation company’s stock valued at $84,000 after purchasing an additional 101 shares during the period. Institutional investors own 74.95% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on JBHT shares. UBS Group upped their target price on J.B. Hunt Transport Services from $286.00 to $291.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Robert W. Baird boosted their price target on shares of J.B. Hunt Transport Services from $290.00 to $320.00 and gave the company an “outperform” rating in a report on Thursday, July 16th. Stifel Nicolaus boosted their price target on shares of J.B. Hunt Transport Services from $225.00 to $261.00 and gave the company a “hold” rating in a report on Monday, July 13th. Wall Street Zen upgraded shares of J.B. Hunt Transport Services from a “hold” rating to a “buy” rating in a research note on Sunday, June 7th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $200.00 price objective (up from $190.00) on shares of J.B. Hunt Transport Services in a report on Monday, July 6th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, J.B. Hunt Transport Services has an average rating of “Moderate Buy” and a consensus target price of $286.30.
Insider Transactions at J.B. Hunt Transport Services
In other J.B. Hunt Transport Services news, EVP Brian Webb sold 1,500 shares of the business’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $284.01, for a total value of $426,015.00. Following the transaction, the executive vice president directly owned 15,881 shares in the company, valued at $4,510,362.81. The trade was a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Keefauver sold 703 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $285.13, for a total transaction of $200,446.39. Following the sale, the executive vice president directly owned 790 shares in the company, valued at $225,252.70. This represents a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 2.50% of the company’s stock.
J.B. Hunt Transport Services Stock Performance
Shares of NASDAQ:JBHT opened at $262.18 on Wednesday. The business’s fifty day moving average price is $277.76 and its two-hundred day moving average price is $251.92. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $130.12 and a fifty-two week high of $299.76. The stock has a market capitalization of $24.62 billion, a price-to-earnings ratio of 37.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.26 and a quick ratio of 1.26.
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 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 during 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 revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.31 earnings per share. As a group, analysts predict that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current fiscal year.
J.B. Hunt Transport Services Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is 25.50%.
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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