Cibc World Market Inc. Invests $1.41 Million in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• CIBC World Markets acquired 4,876 shares of J.B. Hunt Transport Services worth approximately $1.41 million in the second quarter. Institutional investors collectively own 74.95% of the company.
• Analysts maintain a “Moderate Buy” consensus rating, with an average price target of $286.30; several firms recently raised their targets to between $297 and $320.
• J.B. Hunt exceeded quarterly expectations, reporting $1.91 in EPS and $3.50 billion in revenue, while revenue rose 19.4% year over year. The company also declared a quarterly dividend of $0.45 per share, representing a 0.7% annualized yield.

Cibc World Market Inc. acquired a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,876 shares of the transportation company's stock, valued at approximately $1,411,000.

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

Wall Street Analysts Forecast Growth

JBHT has been the topic of several recent research reports. Wall Street Zen upgraded J.B. Hunt Transport Services from a "hold" rating to a "buy" rating in a research report on Sunday, June 7th. Robert W. Baird lifted their price target on J.B. Hunt Transport Services from $290.00 to $320.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. TD Cowen lifted their price target on J.B. Hunt Transport Services from $265.00 to $297.00 and gave the company a "hold" rating in a research report on Thursday, July 16th. Raymond James Financial boosted their price objective on J.B. Hunt Transport Services from $299.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Finally, Citizens Jmp began coverage on J.B. Hunt Transport Services in a report on Wednesday, July 15th. They set a "market perform" rating on the stock. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $286.30.

Insider Transactions at J.B. Hunt Transport Services

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

J.B. Hunt Transport Services Trading Down 0.1%

J.B. Hunt Transport Services stock opened at $263.39 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 1.26. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $130.12 and a fifty-two week high of $299.76. The stock has a market cap of $24.74 billion, a P/E ratio of 37.31, a PEG ratio of 1.66 and a beta of 1.30. The firm's fifty day moving average price is $277.53 and its 200-day moving average price is $252.44.

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

J.B. Hunt Transport Services Announces Dividend

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

J.B. Hunt Transport Services 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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