Castleark Management LLC Makes New $16.36 Million Investment in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Castleark Management LLC acquired 56,520 J.B. Hunt shares worth approximately $16.36 million, representing about 0.06% of the company. Institutional investors and hedge funds collectively own 74.95% of JBHT.
• Analysts remain broadly bullish, with a consensus “Moderate Buy” rating and an average price target of $286.30; several firms recently raised their targets, including Stephens to $370.
• J.B. Hunt beat quarterly expectations with $1.91 in EPS and $3.50 billion in revenue, up 19.4% year over year. The company also paid a quarterly dividend of $0.45 per share, equivalent to a 0.7% annualized yield.

Castleark Management LLC acquired a new stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,520 shares of the transportation company's stock, valued at approximately $16,359,000. Castleark Management LLC owned approximately 0.06% of J.B. Hunt Transport Services at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of JBHT. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in J.B. Hunt Transport Services by 74.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,643 shares of the transportation company's stock valued at $2,314,000 after buying an additional 6,668 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in J.B. Hunt Transport Services by 3.3% during the first quarter. Goldman Sachs Group Inc. now owns 433,661 shares of the transportation company's stock worth $64,160,000 after acquiring an additional 13,729 shares in the last quarter. Empowered Funds LLC raised its stake in J.B. Hunt Transport Services by 27.8% during the first quarter. Empowered Funds LLC now owns 1,770 shares of the transportation company's stock worth $262,000 after acquiring an additional 385 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in J.B. Hunt Transport Services during the second quarter worth $539,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of J.B. Hunt Transport Services by 21.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 583 shares of the transportation company's stock valued at $84,000 after acquiring an additional 101 shares during the period. 74.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on JBHT shares. Benchmark upped their target price on shares of J.B. Hunt Transport Services from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Friday, June 26th. Wall Street Zen raised shares of J.B. Hunt Transport Services from a "hold" rating to a "buy" rating in a report on Sunday, June 7th. JPMorgan Chase & Co. boosted their price target on shares of J.B. Hunt Transport Services from $280.00 to $313.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Finally, Stephens raised their price objective on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the stock an "overweight" rating 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 issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $286.30.

Insider Buying and Selling

In other news, EVP Brian Webb sold 1,500 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $284.01, for a total transaction of $426,015.00. Following the transaction, the executive vice president directly owned 15,881 shares in the company, valued at approximately $4,510,362.81. This represents a 8.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Keefauver sold 703 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $285.13, for a total transaction of $200,446.39. Following the sale, the executive vice president directly owned 790 shares in the company, valued at $225,252.70. This trade represents a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 2.50% of the stock is currently owned by corporate insiders.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ:JBHT opened at $262.18 on Wednesday. J.B. Hunt Transport Services, Inc. has a twelve month low of $130.12 and a twelve month high of $299.76. The firm has a market cap of $24.62 billion, a PE ratio of 37.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.30. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 1.26. The business has a fifty day moving average of $277.76 and a 200-day moving average of $251.92.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.20. The business had revenue of $3.50 billion during the quarter, compared to analysts' expectations 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 revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. On average, equities research analysts predict that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

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

About J.B. Hunt Transport Services

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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