Corient Private Wealth LP Makes New $128.25 Million Investment in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Corient Private Wealth LP acquired 443,101 shares of J.B. Hunt Transport Services in the second quarter, valued at approximately $128.25 million and representing about 0.47% of the company. Institutional investors collectively own 74.95% of the stock.
• J.B. Hunt reported stronger-than-expected quarterly results, with EPS of $1.91 versus the $1.71 consensus and revenue of $3.50 billion, up 19.4% year over year.
• Analysts maintain a generally positive outlook, giving the stock a consensus “Moderate Buy” rating and an average price target of $286.30; the company also pays a quarterly dividend of $0.45, or a 0.7% annualized yield.

Corient Private Wealth LP bought a new stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 443,101 shares of the transportation company's stock, valued at approximately $128,246,000. Corient Private Wealth LP owned approximately 0.47% of J.B. Hunt Transport Services as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Bank of America Corp DE purchased a new position in J.B. Hunt Transport Services in the 2nd quarter worth approximately $125,949,000. Caisse de depot et placement du Quebec purchased a new stake in shares of J.B. Hunt Transport Services during the second quarter valued at approximately $49,187,000. Gallagher Fiduciary Advisors LLC purchased a new stake in shares of J.B. Hunt Transport Services during the second quarter valued at approximately $529,000. Man Group plc acquired a new position in shares of J.B. Hunt Transport Services during the second quarter worth $22,139,000. Finally, Western Wealth Management LLC acquired a new position in shares of J.B. Hunt Transport Services during the second quarter worth $263,000. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related 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 value of $200,446.39. Following the completion of the sale, the executive vice president directly owned 790 shares of the company's stock, valued at $225,252.70. The trade was a 47.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Brian Webb sold 1,500 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $284.01, for a total value of $426,015.00. Following the sale, the executive vice president owned 15,881 shares in the company, valued at $4,510,362.81. The trade was a 8.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.50% of the stock is owned by insiders.

Analyst Ratings Changes

JBHT has been the topic of several analyst reports. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Zacks Research raised shares of J.B. Hunt Transport Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Stifel Nicolaus raised their target price on J.B. Hunt Transport Services from $225.00 to $261.00 and gave the company a "hold" rating in a research note on Monday, July 13th. Susquehanna set a $345.00 target price on J.B. Hunt Transport Services in a research note on Thursday, July 16th. Finally, Truist Financial lifted their target price on J.B. Hunt Transport Services from $280.00 to $295.00 and gave the stock a "hold" rating in a research report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, J.B. Hunt Transport Services currently has an average rating of "Moderate Buy" and a consensus price target of $286.30.

J.B. Hunt Transport Services Trading Up 0.6%

NASDAQ JBHT opened at $263.64 on Thursday. J.B. Hunt Transport Services, Inc. has a 12 month low of $130.12 and a 12 month high of $299.76. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.26 and a quick ratio of 1.26. The company has a market capitalization of $24.76 billion, a price-to-earnings ratio of 37.34, a price-to-earnings-growth ratio of 1.65 and a beta of 1.30. The company's fifty day moving average price is $277.69 and its two-hundred day moving average price is $252.19.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.20. The company had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.26 billion. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The company's revenue was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.31 EPS. As a group, research analysts predict that J.B. Hunt Transport Services, Inc. will post 7.75 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, August 21st. Investors of record on Friday, August 7th were paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a 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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