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

Bank of New York Mellon Corp grew its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 529,616 shares of the transportation company's stock after acquiring 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 SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of JBHT. Wellington Management Group LLP increased its holdings in shares of J.B. Hunt Transport Services by 428.4% during the fourth quarter. Wellington Management Group LLP now owns 1,263,391 shares of the transportation company's stock valued at $215,610,000 after acquiring an additional 1,024,295 shares in the last quarter. Norges Bank bought a new stake in J.B. Hunt Transport Services in the 4th quarter worth about $146,618,000. Demars Financial Group LLC increased its holdings in J.B. Hunt Transport Services by 16,964.6% in the 4th quarter. Demars Financial Group LLC now owns 610,059 shares of the transportation company's stock worth $104,113,000 after buying an additional 606,484 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in J.B. Hunt Transport Services by 111.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 956,504 shares of the transportation company's stock worth $163,237,000 after buying an additional 503,324 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC grew its stake in shares of J.B. Hunt Transport Services by 2,408.1% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 213,888 shares of the transportation company's stock valued at $36,502,000 after purchasing an additional 205,360 shares during the period. 74.95% of the stock is currently owned by institutional investors.

J.B. Hunt Transport Services Trading Down 0.9%

J.B. Hunt Transport Services stock traded down $1.40 during mid-day trading on Monday, hitting $152.17. The company's stock had a trading volume of 661,583 shares, compared to its average volume of 998,978. The company has a 50 day moving average of $142.98 and a 200-day moving average of $151.79. The stock has a market cap of $15.09 billion, a PE ratio of 27.62, a P/E/G ratio of 2.19 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.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings data on Tuesday, April 15th. The transportation company reported $1.17 EPS for the quarter, beating 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 company had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.92 billion. On average, research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date was Friday, May 9th. J.B. Hunt Transport Services's payout ratio is 31.94%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Raymond James Financial cut their price target on J.B. Hunt Transport Services from $190.00 to $165.00 and set an "outperform" rating for the company in a research note on Friday, April 11th. TD Cowen lowered their price target on J.B. Hunt Transport Services from $160.00 to $140.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Sanford C. Bernstein set a $148.00 price target on J.B. Hunt Transport Services and gave the stock a "market perform" rating in a report on Wednesday, April 16th. UBS Group reissued a "buy" rating on shares of J.B. Hunt Transport Services in a report on Tuesday, July 8th. Finally, Citigroup upped their price objective on J.B. Hunt Transport Services from $156.00 to $175.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.43.

Insider Activity

In related news, COO Nicholas Hobbs acquired 1,529 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $130.75 per share, for a total transaction of $199,916.75. Following the purchase, the chief operating officer directly owned 91,847 shares of the company's stock, valued at $12,008,995.25. This trade represents a 1.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.30% of the company's stock.

J.B. Hunt Transport Services Profile

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.