Arrowstreet Capital Limited Partnership Sells 62,231 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Arrowstreet Capital cut its J.B. Hunt position by 12.8%, selling 62,231 shares and retaining 422,581 shares worth approximately $89.5 million. Institutional investors collectively own 74.95% of the company.
• J.B. Hunt reported stronger-than-expected quarterly results, with EPS of $1.91 and revenue of $3.50 billion; revenue increased 19.4% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $286.30.
• The company declared a quarterly dividend of $0.45 per share, or $1.80 annualized, representing a 0.6% yield and a 25.5% payout ratio. Shares recently opened at $288.30, near their 52-week high of $299.76.

Arrowstreet Capital Limited Partnership decreased its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 422,581 shares of the transportation company's stock after selling 62,231 shares during the period. Arrowstreet Capital Limited Partnership owned 0.45% of J.B. Hunt Transport Services worth $89,545,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. CYBER HORNET ETFs LLC purchased a new stake in J.B. Hunt Transport Services during the second quarter worth about $31,000. International Assets Investment Management LLC purchased a new position in J.B. Hunt Transport Services in the fourth quarter valued at about $32,000. MUFG Securities EMEA plc purchased a new position in J.B. Hunt Transport Services in the second quarter valued at about $34,000. Whittier Trust Co. grew its position in shares of J.B. Hunt Transport Services by 39.1% during the 4th quarter. Whittier Trust Co. now owns 178 shares of the transportation company's stock valued at $37,000 after acquiring an additional 50 shares during the period. Finally, CIBC Private Wealth Group LLC increased its stake in shares of J.B. Hunt Transport Services by 34.3% during 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 during the last quarter. Hedge funds and other institutional investors own 74.95% of the company's stock.

Analyst Ratings Changes

JBHT has been the topic of a number of research reports. Susquehanna set a $345.00 price target on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. The Goldman Sachs Group set a $261.00 target price on J.B. Hunt Transport Services in a research report on Thursday, July 16th. Wells Fargo & Company boosted their target price on J.B. Hunt Transport Services from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Thursday, July 16th. Wall Street Zen raised J.B. Hunt Transport Services from a "hold" rating to a "buy" rating in a research report on Sunday, June 7th. Finally, Morgan Stanley reiterated 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 note on Monday, July 6th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, J.B. Hunt Transport Services presently has an average rating of "Moderate Buy" and an average target price of $286.30.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ JBHT opened at $288.30 on Monday. J.B. Hunt Transport Services, Inc. has a 52 week low of $130.12 and a 52 week high of $299.76. The business has a 50-day simple moving average of $278.74 and a two-hundred day simple moving average of $241.85. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a market cap of $27.19 billion, a P/E ratio of 40.84, a P/E/G ratio of 1.82 and a beta of 1.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.20. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter in the previous year, the firm earned $1.31 EPS. The company's quarterly revenue was up 19.4% compared to the same quarter last year. Research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 7.71 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be paid a dividend of $0.45 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.80 annualized dividend and a yield of 0.6%. J.B. Hunt Transport Services's payout ratio is currently 25.50%.

Insider Buying and Selling at J.B. Hunt Transport Services

In related news, EVP Darren P. Field sold 4,000 shares of the company's stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $254.49, for a total transaction of $1,017,960.00. Following the sale, the executive vice president owned 8,696 shares of the company's stock, valued at approximately $2,213,045.04. This represents a 31.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Spencer Frazier sold 2,000 shares of the stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $258.20, for a total transaction of $516,400.00. Following the completion of the sale, the executive vice president owned 4,604 shares in the company, valued at $1,188,752.80. This represents a 30.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,847 shares of company stock worth $4,162,861 in the last ninety days. Insiders own 2.50% of the company's stock.

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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