J.B. Hunt Transport Services, Inc. $JBHT Stake Lessened by Cambiar Investors LLC

Key Points

• Cambiar Investors LLC has reduced its holdings in J.B. Hunt Transport Services by 20.4%, selling 13,009 shares in the first quarter, leaving it with 50,850 shares valued at approximately $7.5 million.
• J.B. Hunt reported earnings per share of $1.31 for the last quarter, missing the consensus estimate by $0.03, though revenue matched analyst expectations at $2.93 billion.
• The company plans to pay a quarterly dividend of $0.44 per share on August 22, representing an annual yield of 1.2% and a payout ratio of 32%.

Cambiar Investors LLC cut its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,850 shares of the transportation company's stock after selling 13,009 shares during the period. Cambiar Investors LLC owned approximately 0.05% of J.B. Hunt Transport Services worth $7,523,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in JBHT. JPMorgan Chase & Co. boosted its position in shares of J.B. Hunt Transport Services by 14.6% during the first quarter. JPMorgan Chase & Co. now owns 4,853,092 shares of the transportation company's stock worth $718,015,000 after buying an additional 616,986 shares during the period. Worldquant Millennium Advisors LLC boosted its position in shares of J.B. Hunt Transport Services by 2,408.1% during the fourth quarter. Worldquant Millennium Advisors LLC now owns 213,888 shares of the transportation company's stock worth $36,502,000 after buying an additional 205,360 shares during the period. Nuveen LLC acquired a new position in shares of J.B. Hunt Transport Services during the first quarter worth approximately $29,497,000. Vanguard Group Inc. boosted its position in shares of J.B. Hunt Transport Services by 2.0% during the first quarter. Vanguard Group Inc. now owns 10,048,462 shares of the transportation company's stock worth $1,486,670,000 after buying an additional 195,873 shares during the period. Finally, Point72 Asset Management L.P. boosted its position in shares of J.B. Hunt Transport Services by 194.0% during the fourth quarter. Point72 Asset Management L.P. now owns 258,467 shares of the transportation company's stock worth $44,110,000 after buying an additional 170,561 shares during the period. 74.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP David Keefauver sold 989 shares of the stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $151.97, for a total transaction of $150,298.33. Following the completion of the sale, the executive vice president owned 946 shares in the company, valued at approximately $143,763.62. This represents a 51.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Eric Mcgee acquired 1,148 shares of the business's stock in a transaction dated Monday, August 4th. The shares were bought at an average price of $140.76 per share, with a total value of $161,592.48. Following the transaction, the executive vice president directly owned 7,397 shares in the company, valued at approximately $1,041,201.72. The trade was a 18.37% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

JBHT has been the subject of several analyst reports. Citigroup reiterated a "buy" rating and set a $170.00 price objective (down from $175.00) on shares of J.B. Hunt Transport Services in a research report on Wednesday, July 16th. UBS Group reiterated a "buy" rating on shares of J.B. Hunt Transport Services in a research report on Tuesday, July 8th. Raymond James Financial upped their target price on J.B. Hunt Transport Services from $155.00 to $165.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Wells Fargo & Company restated an "overweight" rating and issued a $163.00 target price (up from $150.00) on shares of J.B. Hunt Transport Services in a research report on Wednesday, July 16th. Finally, Truist Financial upped their target price on J.B. Hunt Transport Services from $140.00 to $145.00 and gave the stock a "hold" rating in a research report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, J.B. Hunt Transport Services presently has an average rating of "Moderate Buy" and an average target price of $164.90.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ:JBHT traded down $4.70 on Wednesday, reaching $142.53. 990,952 shares of the company traded hands, compared to its average volume of 1,121,861. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $122.79 and a fifty-two week high of $200.40. The company's 50 day moving average is $145.82 and its 200-day moving average is $146.52. The stock has a market capitalization of $13.80 billion, a PE ratio of 25.91, a P/E/G ratio of 2.19 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings data on Tuesday, July 15th. The transportation company reported $1.31 EPS for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.93 billion. During the same quarter last year, the company posted $1.32 EPS. J.B. Hunt Transport Services's revenue was up .0% on a year-over-year basis. As a group, analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Friday, August 8th. J.B. Hunt Transport Services's dividend payout ratio is 32.00%.

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.