Bank of New York Mellon Corp Grows Stock Holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Bank of New York Mellon Corp grew its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 529,616 shares of the transportation company's stock after purchasing an additional 18,209 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of J.B. Hunt Transport Services worth $78,357,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in JBHT. Harel Insurance Investments & Financial Services Ltd. grew its stake in J.B. Hunt Transport Services by 92.3% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,594 shares of the transportation company's stock valued at $236,000 after buying an additional 765 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of J.B. Hunt Transport Services by 22.6% during the 1st quarter. IFM Investors Pty Ltd now owns 15,032 shares of the transportation company's stock valued at $2,224,000 after acquiring an additional 2,772 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of J.B. Hunt Transport Services by 8.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 15,364 shares of the transportation company's stock worth $2,273,000 after buying an additional 1,142 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of J.B. Hunt Transport Services in the 1st quarter worth about $1,746,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of J.B. Hunt Transport Services by 27.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,361 shares of the transportation company's stock valued at $1,533,000 after acquiring an additional 2,246 shares during the last quarter. Institutional investors and hedge funds own 74.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on JBHT shares. Citigroup upped their target price on shares of J.B. Hunt Transport Services from $156.00 to $175.00 and gave the stock a "buy" rating in a research report on Wednesday. Stifel Nicolaus set a $150.00 target price on shares of J.B. Hunt Transport Services in a report on Wednesday, April 16th. Bank of America increased their target price on J.B. Hunt Transport Services from $166.00 to $171.00 and gave the stock a "buy" rating in a research note on Thursday. Sanford C. Bernstein set a $148.00 target price on J.B. Hunt Transport Services and gave the company a "market perform" rating in a research report on Wednesday, April 16th. Finally, Truist Financial boosted their price target on shares of J.B. Hunt Transport Services from $130.00 to $140.00 and gave the stock a "hold" rating in a research report on Monday, June 30th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $163.43.

Insider Activity

In other news, COO Nicholas Hobbs acquired 1,529 shares of the company's stock in a transaction on Wednesday, April 23rd. The stock was bought at an average cost of $130.75 per share, with a total value of $199,916.75. Following the completion of the purchase, the chief operating officer directly owned 91,847 shares of the company's stock, valued at $12,008,995.25. This represents a 1.69% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.30% of the company's stock.

J.B. Hunt Transport Services Stock Down 0.7%

Shares of JBHT traded down $1.09 on Friday, hitting $153.57. 884,745 shares of the stock traded hands, compared to its average volume of 863,734. The company has a market capitalization of $15.23 billion, a PE ratio of 28.07, a P/E/G ratio of 2.21 and a beta of 1.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.89. J.B. Hunt Transport Services, Inc. has a one year low of $122.79 and a one year high of $200.40. The business has a 50 day simple moving average of $142.58 and a 200 day simple moving average of $152.19.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings data on Tuesday, April 15th. The transportation company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.15 by $0.02. J.B. Hunt Transport Services had a return on equity of 14.07% and a net margin of 4.65%. The firm had revenue of $2.92 billion during the quarter, compared to analyst estimates of $2.92 billion. As a group, equities analysts forecast that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Shareholders of record on Friday, May 9th were issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.15%. The ex-dividend date was Friday, May 9th. J.B. Hunt Transport Services's dividend payout ratio is presently 31.94%.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in the United States. It operates through five segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS), and Truckload (JBT). The JBI segment offers intermodal freight solutions.