Bank of New York Mellon Corp Has $119.73 Million Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Bank of New York Mellon increased its J.B. Hunt stake by 38.6% in the fourth quarter, bringing its holding to 616,076 shares worth about $119.7 million.
• J.B. Hunt posted better-than-expected first-quarter results, with EPS of $1.49 versus $1.45 expected and revenue of $3.06 billion, up 4.6% year over year.
• Analysts remain constructive on the stock: BMO Capital Markets raised its target to $320, while the consensus rating is Moderate Buy with an average price target of $233.83.

Bank of New York Mellon Corp grew its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 616,076 shares of the transportation company's stock after purchasing an additional 171,535 shares during the period. Bank of New York Mellon Corp owned about 0.65% of J.B. Hunt Transport Services worth $119,728,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in JBHT. AQR Capital Management LLC raised its stake in shares of J.B. Hunt Transport Services by 411.5% in the 2nd quarter. AQR Capital Management LLC now owns 1,799,843 shares of the transportation company's stock valued at $258,457,000 after purchasing an additional 1,447,993 shares during the period. Norges Bank acquired a new position in J.B. Hunt Transport Services during the fourth quarter valued at approximately $200,587,000. Bessemer Group Inc. grew its stake in J.B. Hunt Transport Services by 75,567.4% in the fourth quarter. Bessemer Group Inc. now owns 1,006,377 shares of the transportation company's stock valued at $195,580,000 after purchasing an additional 1,005,047 shares in the last quarter. Qube Research & Technologies Ltd grew its stake in J.B. Hunt Transport Services by 338.0% in the third quarter. Qube Research & Technologies Ltd now owns 823,089 shares of the transportation company's stock valued at $110,434,000 after purchasing an additional 635,172 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of J.B. Hunt Transport Services by 18.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,672,060 shares of the transportation company's stock worth $358,510,000 after purchasing an additional 416,167 shares during the last quarter. 74.95% of the stock is owned by institutional investors.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ JBHT opened at $284.95 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $130.12 and a fifty-two week high of $289.95. The stock has a market capitalization of $26.87 billion, a PE ratio of 44.11, a P/E/G ratio of 2.12 and a beta of 1.30. The business has a fifty day moving average price of $245.14 and a two-hundred day moving average price of $218.46.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its earnings results on Wednesday, April 15th. The transportation company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.45 by $0.04. J.B. Hunt Transport Services had a net margin of 5.13% and a return on equity of 17.30%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the firm earned $1.17 EPS. The business's quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities analysts predict that J.B. Hunt Transport Services, Inc. will post 7.27 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were paid a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.80 annualized dividend and a yield of 0.6%. J.B. Hunt Transport Services's payout ratio is presently 27.86%.

Insider Transactions at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 4,000 shares of the stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $254.49, for a total value of $1,017,960.00. Following the completion of the transaction, the executive vice president directly owned 8,696 shares in the company, valued at approximately $2,213,045.04. This trade represents a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Nicholas Hobbs sold 1,272 shares of J.B. Hunt Transport Services stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $250.75, for a total value of $318,954.00. Following the sale, the chief operating officer directly owned 91,736 shares in the company, valued at $23,002,802. The trade was a 1.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 15,916 shares of company stock valued at $4,109,634. 2.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

JBHT has been the subject of several analyst reports. BMO Capital Markets raised their target price on shares of J.B. Hunt Transport Services from $250.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday. Susquehanna lifted their price objective on shares of J.B. Hunt Transport Services from $250.00 to $290.00 and gave the stock a "positive" rating in a research report on Wednesday, April 22nd. Truist Financial upped their price objective on shares of J.B. Hunt Transport Services from $205.00 to $230.00 and gave the company a "hold" rating in a report on Thursday, April 16th. Raymond James Financial reissued an "outperform" rating and issued a $240.00 price objective on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 15th. Finally, Morgan Stanley boosted their price objective on J.B. Hunt Transport Services from $165.00 to $180.00 and gave the stock an "equal weight" rating in a report on Thursday, April 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and eleven have given a Hold rating to the company's stock. Based on data from MarketBeat, J.B. Hunt Transport Services presently has an average rating of "Moderate Buy" and a consensus target price of $233.83.

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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