Allworth Financial LP Makes New $1.45 Million Investment in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Allworth Financial initiated a $1.45 million position in J.B. Hunt Transport Services during the second quarter by purchasing 5,014 shares. Institutional investors collectively own 74.95% of the company.
• Analysts maintain a generally positive outlook, with the stock carrying a consensus “Moderate Buy” rating and an average price target of $286.30. Recent targets range as high as $320.
• J.B. Hunt exceeded quarterly expectations, reporting $1.91 in EPS on $3.50 billion in revenue, with revenue up 19.4% year over year. The company also declared a quarterly dividend of $0.45 per share, equivalent to a 0.7% yield.

Allworth Financial LP bought a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,014 shares of the transportation company's stock, valued at approximately $1,451,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in JBHT. CYBER HORNET ETFs LLC bought a new position in J.B. Hunt Transport Services in the second quarter worth $31,000. International Assets Investment Management LLC purchased a new position in shares of J.B. Hunt Transport Services during the fourth quarter valued at approximately $32,000. MUFG Securities EMEA plc purchased a new position in shares of J.B. Hunt Transport Services during the second quarter valued at approximately $34,000. CIBC Private Wealth Group LLC boosted its position in shares of J.B. Hunt Transport Services by 34.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company's stock worth $37,000 after purchasing an additional 48 shares in the last quarter. Finally, Activest Wealth Management boosted its position in shares of J.B. Hunt Transport Services by 19,800.0% in the 4th quarter. Activest Wealth Management now owns 199 shares of the transportation company's stock worth $39,000 after purchasing an additional 198 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on JBHT shares. Robert W. Baird upped their price target on J.B. Hunt Transport Services from $290.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Citizens Jmp began coverage on J.B. Hunt Transport Services in a research note on Wednesday, July 15th. They issued a "market perform" rating on the stock. Barclays raised their price target on J.B. Hunt Transport Services from $270.00 to $300.00 and gave the company an "equal weight" rating in a report on Thursday, July 16th. JPMorgan Chase & Co. lifted their price target on J.B. Hunt Transport Services from $280.00 to $313.00 and gave the stock an "overweight" rating in a research report on Thursday, July 16th. Finally, Benchmark increased their price objective on shares of J.B. Hunt Transport Services from $250.00 to $300.00 and gave the company a "buy" rating in a research report on Friday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $286.30.

J.B. Hunt Transport Services Stock Up 0.4%

J.B. Hunt Transport Services stock opened at $275.45 on Friday. J.B. Hunt Transport Services, Inc. has a 12 month low of $130.12 and a 12 month high of $299.76. The stock has a fifty day simple moving average of $278.58 and a two-hundred day simple moving average of $251.13. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a market cap of $25.87 billion, a price-to-earnings ratio of 39.02, a PEG ratio of 1.73 and a beta of 1.30.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.20. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate 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 company's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.31 earnings per share. Equities 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 business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were paid a $0.45 dividend. 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 payout ratio is currently 25.50%.

Insider Activity at J.B. Hunt Transport Services

In related news, 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 sale, the executive vice president owned 15,881 shares in the company, valued at approximately $4,510,362.81. This trade represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP David Keefauver sold 703 shares of J.B. Hunt Transport Services 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 completion of the sale, 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 position. Additional details regarding this sale are available in the official SEC disclosure. 2.50% of the stock is owned by insiders.

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.

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