Comerica Bank Buys 7,554 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Comerica Bank increased its holdings in J.B. Hunt Transport Services by 19.0%, acquiring an additional 7,554 shares valued at approximately $7 million, bringing their total share ownership to 47,336.
• Several other institutional investors, including Mirae Asset Global Investments and Bessemer Group Inc., also boosted their stakes in J.B. Hunt, reflecting a significant 74.95% ownership by institutional investors.
• J.B. Hunt announced a quarterly dividend of $0.44 per share, with a 1.2% yield and a dividend payout ratio of 32.00%, further attracting investor interest.

Comerica Bank grew its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 19.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,336 shares of the transportation company's stock after acquiring an additional 7,554 shares during the quarter. Comerica Bank's holdings in J.B. Hunt Transport Services were worth $7,003,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of J.B. Hunt Transport Services by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,467 shares of the transportation company's stock valued at $1,529,000 after acquiring an additional 1,209 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of J.B. Hunt Transport Services during the first quarter valued at $1,746,000. Bessemer Group Inc. increased its holdings in J.B. Hunt Transport Services by 22.4% in the 1st quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock worth $97,000 after buying an additional 120 shares in the last quarter. SG Americas Securities LLC increased its holdings in J.B. Hunt Transport Services by 179.8% in the 1st quarter. SG Americas Securities LLC now owns 3,990 shares of the transportation company's stock worth $590,000 after buying an additional 2,564 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in J.B. Hunt Transport Services by 8.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,596 shares of the transportation company's stock worth $976,000 after buying an additional 494 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors.

Insider Activity

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

J.B. Hunt Transport Services Trading Up 1.0%

Shares of NASDAQ:JBHT opened at $145.79 on Thursday. The stock has a market capitalization of $14.11 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 2.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. The stock's 50-day simple moving average is $146.36 and its two-hundred day simple moving average is $145.69. J.B. Hunt Transport Services, Inc. has a 52-week low of $122.79 and a 52-week high of $200.40.

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

J.B. Hunt Transport Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services's dividend payout ratio (DPR) is presently 32.00%.

Analyst Upgrades and Downgrades

JBHT has been the subject of several research analyst reports. Bank of America lifted their price objective on J.B. Hunt Transport Services from $166.00 to $171.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Stifel Nicolaus reduced their price objective on J.B. Hunt Transport Services from $150.00 to $145.00 and set a "hold" rating for the company in a report on Wednesday, July 16th. Baird R W upgraded J.B. Hunt Transport Services to a "strong-buy" rating in a report on Tuesday, July 1st. Morgan Stanley reduced their price objective on J.B. Hunt Transport Services from $160.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Finally, The Goldman Sachs Group set a $164.00 price objective on J.B. Hunt Transport Services in a report on Tuesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.90.

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.

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