Canada Pension Plan Investment Board Takes Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Canada Pension Plan Investment Board acquired 79,580 shares of J.B. Hunt Transport Services worth approximately $23 million, giving it a 0.08% stake. Institutional investors and hedge funds collectively own 74.95% of the company.
• J.B. Hunt reported quarterly earnings of $1.91 per share, exceeding estimates of $1.71, while revenue rose 19.4% year over year to $3.50 billion. The company also declared a quarterly dividend of $0.45 per share, equivalent to a 0.7% yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $286.30, although the stock recently traded down 0.9% at $261.03. Recent insider activity included two executive stock sales.

Canada Pension Plan Investment Board acquired a new stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 79,580 shares of the transportation company's stock, valued at approximately $23,033,000. Canada Pension Plan Investment Board owned about 0.08% of J.B. Hunt Transport Services at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Elevation Wealth Partners LLC raised its stake in shares of J.B. Hunt Transport Services by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 150 shares of the transportation company's stock valued at $43,000 after acquiring an additional 125 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of J.B. Hunt Transport Services during the fourth quarter worth $32,000. CIBC Private Wealth Group LLC grew its stake in shares of J.B. Hunt Transport Services by 34.3% in the fourth 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. Activest Wealth Management grew its stake in shares of J.B. Hunt Transport Services by 19,800.0% in the fourth quarter. Activest Wealth Management now owns 199 shares of the transportation company's stock worth $39,000 after purchasing an additional 198 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in J.B. Hunt Transport Services in the second quarter valued at $31,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.

J.B. Hunt Transport Services Trading Down 0.9%

NASDAQ:JBHT opened at $261.03 on Friday. The stock has a market capitalization of $24.52 billion, a PE ratio of 36.97, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30. The firm's 50 day moving average is $277.33 and its 200 day moving average is $252.50. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. J.B. Hunt Transport Services, Inc. has a 12 month low of $130.12 and a 12 month high of $299.76.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.20. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.26 billion. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.31 EPS. Sell-side analysts expect that J.B. Hunt Transport Services, Inc. will post 7.75 earnings per share for the current year.

J.B. Hunt Transport Services Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 21st. Stockholders of record on Friday, August 7th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, August 7th. J.B. Hunt Transport Services's dividend payout ratio (DPR) is presently 25.50%.

Insider Activity

In other news, EVP David Keefauver sold 703 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $285.13, for a total value of $200,446.39. Following the transaction, the executive vice president owned 790 shares of the company's stock, valued at approximately $225,252.70. This represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Brian Webb sold 1,500 shares of the company's stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $284.01, for a total value of $426,015.00. Following the completion of the transaction, the executive vice president owned 15,881 shares in the company, valued at $4,510,362.81. This represents a 8.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

JBHT has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on J.B. Hunt Transport Services from $280.00 to $295.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Barclays increased their price target on J.B. Hunt Transport Services from $270.00 to $300.00 and gave the stock an "equal weight" rating in a report on Thursday, July 16th. Citigroup restated a "market perform" rating on shares of J.B. Hunt Transport Services in a research note on Monday, July 20th. Susquehanna set a $345.00 price target on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $286.30.

J.B. Hunt Transport Services Company 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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