Convergence Investment Partners LLC Takes $957,000 Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Convergence Investment Partners opened a new position in J.B. Hunt Transport Services during the first quarter, buying 4,517 shares valued at about $957,000.
• J.B. Hunt reported better-than-expected quarterly results, with EPS of $1.91 versus $1.71 expected and revenue of $3.50 billion, up 19.4% from a year earlier.
• Analysts remain generally positive on the stock, with an average rating of Moderate Buy and an average price target of $286.30, while the shares recently traded near $293.26.

Convergence Investment Partners LLC acquired a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,517 shares of the transportation company's stock, valued at approximately $957,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. CYBER HORNET ETFs LLC purchased a new stake in J.B. Hunt Transport Services during the 2nd quarter valued at about $31,000. International Assets Investment Management LLC purchased a new position in J.B. Hunt Transport Services in the 4th quarter worth approximately $32,000. MUFG Securities EMEA plc purchased a new position in J.B. Hunt Transport Services in the 2nd quarter worth approximately $34,000. Whittier Trust Co. lifted its position in J.B. Hunt Transport Services by 39.1% in the fourth quarter. Whittier Trust Co. now owns 178 shares of the transportation company's stock valued at $37,000 after purchasing an additional 50 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its position in J.B. Hunt Transport Services by 34.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company's stock valued at $37,000 after purchasing an additional 48 shares during the last quarter. Institutional investors own 74.95% of the company's stock.

J.B. Hunt Transport Services Price Performance

Shares of JBHT stock opened at $293.26 on Wednesday. The firm has a market cap of $27.65 billion, a P/E ratio of 41.54, a P/E/G ratio of 1.85 and a beta of 1.29. 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 business's 50 day moving average price is $276.44 and its 200-day moving average price is $239.90. 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 (NASDAQ:JBHT - Get Free Report) last posted its earnings results 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 firm had revenue of $3.50 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period in the previous year, the firm earned $1.31 earnings per share. The business's revenue was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 7.66 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 22nd. Shareholders of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date of this dividend was Friday, May 8th. J.B. Hunt Transport Services's payout ratio is presently 25.50%.

Insiders Place Their Bets

In other news, insider Bradley W. Hicks sold 7,644 shares of J.B. Hunt Transport Services stock in a transaction dated 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 of the company's stock, valued at approximately $6,281,125.62. The trade was a 24.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Darren P. Field sold 4,000 shares of the business's stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $254.49, for a total transaction of $1,017,960.00. Following the transaction, the executive vice president owned 8,696 shares in the company, valued at $2,213,045.04. This represents a 31.51% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 15,847 shares of company stock worth $4,162,861. Company insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

JBHT has been the subject of a number of analyst reports. Bank of America increased their price objective on J.B. Hunt Transport Services from $225.00 to $250.00 and gave the company a "buy" rating in a research note on Thursday, April 16th. TD Cowen upped their price target on shares of J.B. Hunt Transport Services from $265.00 to $297.00 and gave the company a "hold" rating in a report on Thursday, July 16th. Morgan Stanley reiterated an "underweight" rating and set a $200.00 price target (up from $190.00) on shares of J.B. Hunt Transport Services in a report on Monday, July 6th. Sanford C. Bernstein reissued an "outperform" rating on shares of J.B. Hunt Transport Services in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group set a $261.00 price target on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $286.30.

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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