CIBC Asset Management Inc Buys 6,566 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• CIBC Asset Management boosted its stake in J.B. Hunt Transport Services by 55.7% in the fourth quarter, buying 6,566 additional shares and bringing its total holdings to 18,345 shares worth about $3.57 million.
• Institutional ownership remains high, with several other large investors also increasing positions and institutions owning about 74.95% of the stock.
• J.B. Hunt reported better-than-expected quarterly results, including EPS of $1.49 on revenue of $3.06 billion, while analysts currently rate the stock a Moderate Buy with a consensus target price of $233.83.

CIBC Asset Management Inc raised its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 55.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,345 shares of the transportation company's stock after acquiring an additional 6,566 shares during the quarter. CIBC Asset Management Inc's holdings in J.B. Hunt Transport Services were worth $3,565,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in J.B. Hunt Transport Services by 38.6% in the 4th quarter. Bank of New York Mellon Corp now owns 616,076 shares of the transportation company's stock valued at $119,728,000 after acquiring an additional 171,535 shares during the period. Root Financial Partners LLC raised its holdings in J.B. Hunt Transport Services by 25.4% in the 4th quarter. Root Financial Partners LLC now owns 232 shares of the transportation company's stock valued at $45,000 after acquiring an additional 47 shares during the period. New Mexico Educational Retirement Board raised its holdings in J.B. Hunt Transport Services by 2.9% in the 4th quarter. New Mexico Educational Retirement Board now owns 3,600 shares of the transportation company's stock valued at $700,000 after acquiring an additional 100 shares during the period. Rothschild Wealth LLC bought a new position in J.B. Hunt Transport Services in the 4th quarter valued at about $535,000. Finally, Waterloo Capital L.P. raised its holdings in J.B. Hunt Transport Services by 23.1% in the 4th quarter. Waterloo Capital L.P. now owns 8,832 shares of the transportation company's stock valued at $1,716,000 after acquiring an additional 1,658 shares during the period. 74.95% of the stock is owned by institutional investors.

Insider Buying and Selling at J.B. Hunt Transport Services

In related news, insider Bradley W. Hicks sold 7,644 shares of the stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $261.91, for a total transaction of $2,002,040.04. Following the sale, the insider owned 23,982 shares in the company, valued at approximately $6,281,125.62. This trade represents a 24.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Nicholas Hobbs sold 1,272 shares of the stock in a transaction that occurred on Wednesday, April 22nd. The stock was sold at an average price of $250.75, for a total transaction of $318,954.00. Following the sale, the chief operating officer owned 91,736 shares in the company, valued at $23,002,802. This represents a 1.37% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,916 shares of company stock worth $4,109,634 in the last three months. Company insiders own 2.50% of the company's stock.

J.B. Hunt Transport Services Stock Performance

NASDAQ JBHT opened at $284.95 on Monday. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $26.87 billion, a price-to-earnings ratio of 44.11, a P/E/G ratio of 2.12 and a beta of 1.30. The firm's 50 day simple moving average is $245.14 and its 200 day simple moving average is $218.46. J.B. Hunt Transport Services, Inc. has a 1 year low of $130.12 and a 1 year high of $289.95.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results on Wednesday, April 15th. The transportation company reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.01 billion. J.B. Hunt Transport Services had a net margin of 5.13% and a return on equity of 17.30%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $1.17 EPS. As a group, research analysts expect that J.B. Hunt Transport Services, Inc. will post 7.27 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 22nd. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. The ex-dividend date was Friday, May 8th. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. J.B. Hunt Transport Services's dividend payout ratio (DPR) is currently 27.86%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Weiss Ratings lowered shares of J.B. Hunt Transport Services from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, April 24th. UBS Group increased their target price on shares of J.B. Hunt Transport Services from $216.00 to $221.00 and gave the stock a "neutral" rating in a research report on Thursday, April 16th. Raymond James Financial restated an "outperform" rating and set a $240.00 target price on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 15th. Wells Fargo & Company increased their target price on shares of J.B. Hunt Transport Services from $250.00 to $310.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Robert W. Baird increased their target price on shares of J.B. Hunt Transport Services from $215.00 to $236.00 and gave the stock an "outperform" rating in a research report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.83.

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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