Connor Clark & Lunn Investment Management Ltd. Purchases 34,281 Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Key Points

• Connor Clark & Lunn Investment Management Ltd. significantly increased its stake in J.B. Hunt Transport Services by 343.9% in the first quarter, bringing its total to 44,248 shares valued at approximately $6.55 million.
• J.B. Hunt's recent quarterly earnings report revealed an EPS of $1.31, slightly below analysts' expectations, while the company also announced a quarterly dividend of $0.44 per share.
• Analyst ratings for J.B. Hunt show a consensus of "Moderate Buy" with a target price averaging $164.90, indicating optimism about the company's future performance among investment analysts.

Connor Clark & Lunn Investment Management Ltd. grew its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 343.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 44,248 shares of the transportation company's stock after buying an additional 34,281 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in J.B. Hunt Transport Services were worth $6,546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in J.B. Hunt Transport Services in the fourth quarter valued at about $6,030,000. Townsquare Capital LLC raised its holdings in J.B. Hunt Transport Services by 11.0% during the fourth quarter. Townsquare Capital LLC now owns 1,653 shares of the transportation company's stock worth $282,000 after acquiring an additional 164 shares in the last quarter. Canada Post Corp Registered Pension Plan bought a new stake in J.B. Hunt Transport Services in the fourth quarter valued at approximately $201,000. Guggenheim Capital LLC raised its stake in J.B. Hunt Transport Services by 29.7% in the fourth quarter. Guggenheim Capital LLC now owns 51,317 shares of the transportation company's stock valued at $8,758,000 after buying an additional 11,760 shares during the period. Finally, Ontario Teachers Pension Plan Board raised its stake in J.B. Hunt Transport Services by 129.5% in the fourth quarter. Ontario Teachers Pension Plan Board now owns 11,504 shares of the transportation company's stock valued at $1,963,000 after buying an additional 6,492 shares during the period. 74.95% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at J.B. Hunt Transport Services

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on JBHT shares. Stifel Nicolaus lowered their target price on J.B. Hunt Transport Services from $150.00 to $145.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. JPMorgan Chase & Co. increased their price target on J.B. Hunt Transport Services from $159.00 to $180.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Robert W. Baird started coverage on J.B. Hunt Transport Services in a research report on Tuesday, July 1st. They set an "outperform" rating and a $169.00 price target on the stock. Bank of America raised their target price on J.B. Hunt Transport Services from $166.00 to $171.00 and gave the company a "buy" rating in a report on Thursday, July 10th. Finally, Morgan Stanley reduced their target price on J.B. Hunt Transport Services from $160.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, J.B. Hunt Transport Services has an average rating of "Moderate Buy" and a consensus target price of $164.90.

J.B. Hunt Transport Services Trading Down 0.7%

JBHT traded down $1.00 during midday trading on Friday, hitting $143.45. 544,605 shares of the company were exchanged, compared to its average volume of 1,064,553. The firm has a market capitalization of $13.89 billion, a P/E ratio of 26.08, a P/E/G ratio of 2.21 and a beta of 1.29. J.B. Hunt Transport Services, Inc. has a 1-year low of $122.79 and a 1-year high of $200.40. The firm's 50 day moving average price is $145.77 and its 200-day moving average price is $146.90. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.28.

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 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). The company had revenue of $2.93 billion for the quarter, compared to analyst estimates 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 firm's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.32 earnings per share. As a group, equities analysts forecast that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, August 8th. J.B. Hunt Transport Services's payout ratio is currently 32.00%.

J.B. Hunt Transport Services Company 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.