648,519 Shares in J.B. Hunt Transport Services, Inc. $JBHT Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 648,519 J.B. Hunt shares worth approximately $187.7 million, taking a 0.69% stake. Institutional investors collectively own 74.95% of the transportation company.
• J.B. Hunt exceeded quarterly expectations, reporting $1.91 in EPS versus the $1.71 consensus and $3.50 billion in revenue, up 19.4% year over year. Analysts collectively rate the stock “Moderate Buy,” with an average target price of $286.30.
• The company paid a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 0.7% yield. Two executive vice presidents sold shares, while insiders own 2.50% of the company.

Bank of New York Mellon Corp acquired a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 648,519 shares of the transportation company's stock, valued at approximately $187,701,000. Bank of New York Mellon Corp owned approximately 0.69% of J.B. Hunt Transport Services at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sivia Capital Partners LLC acquired a new stake in J.B. Hunt Transport Services during the 2nd quarter valued at approximately $539,000. Bank of America Corp DE raised its position in shares of J.B. Hunt Transport Services by 2.4% in the 1st quarter. Bank of America Corp DE now owns 454,610 shares of the transportation company's stock valued at $96,332,000 after purchasing an additional 10,664 shares in the last quarter. HighTower Advisors LLC raised its position in shares of J.B. Hunt Transport Services by 71.7% in the 4th quarter. HighTower Advisors LLC now owns 9,684 shares of the transportation company's stock valued at $1,882,000 after purchasing an additional 4,043 shares in the last quarter. Greenwood Gearhart Inc. boosted its stake in shares of J.B. Hunt Transport Services by 4.3% during the 4th quarter. Greenwood Gearhart Inc. now owns 201,839 shares of the transportation company's stock valued at $39,225,000 after buying an additional 8,270 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of J.B. Hunt Transport Services in the fourth quarter worth $200,587,000. 74.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 sale, 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 sale was disclosed in a document filed 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 that occurred on Friday, June 5th. The stock was sold at an average price of $285.13, for a total value of $200,446.39. Following the completion of the sale, the executive vice president directly owned 790 shares in the company, valued at approximately $225,252.70. This trade represents a 47.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 2.50% of the company's stock.

J.B. Hunt Transport Services Stock Up 0.4%

Shares of NASDAQ:JBHT opened at $275.45 on Friday. The stock has a market capitalization of $25.87 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 1.73 and a beta of 1.30. J.B. Hunt Transport Services, Inc. has a 1-year low of $130.12 and a 1-year high of $299.76. The company's fifty day moving average is $278.58 and its two-hundred day moving average is $251.13. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 1.26.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.71 by $0.20. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same period in the previous year, the business posted $1.31 EPS. The company's quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts anticipate that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Shareholders of record on Friday, August 7th were issued 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 dividend payout ratio (DPR) is currently 25.50%.

Analyst Upgrades and Downgrades

A number of research firms have commented on JBHT. BMO Capital Markets reiterated an "outperform" rating on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Stephens boosted their target price on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Stifel Nicolaus upped their target price on shares of J.B. Hunt Transport Services from $225.00 to $261.00 and gave the company a "hold" rating in a research note on Monday, July 13th. Morgan Stanley reaffirmed an "underweight" rating and set a $200.00 price target (up from $190.00) on shares of J.B. Hunt Transport Services in a research report on Monday, July 6th. Finally, The Goldman Sachs Group set a $261.00 price target on J.B. Hunt Transport Services in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, J.B. Hunt Transport Services has an average rating of "Moderate Buy" and an average target price of $286.30.

J.B. Hunt Transport Services Company 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.

Want to see what other hedge funds are holding JBHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source