Eldred Rock Partners LLC Reduces Stock Holdings in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Eldred Rock Partners LLC reduced its stake in J.B. Hunt Transport Services by 5.0% in Q2, maintaining ownership of 78,716 shares valued at approximately $11.3 million.
• Several institutional investors have increased their holdings, including JPMorgan Chase & Co., which boosted its stake by 14.6%, owning now nearly 4.85 million shares worth about $718 million.
• Analysts have mixed views on J.B. Hunt, with a range of price targets set between $145.00 and $170.00, and an average rating of "Moderate Buy", indicating a cautious optimism regarding the stock's performance.

Eldred Rock Partners LLC cut its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 5.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 78,716 shares of the transportation company's stock after selling 4,180 shares during the period. J.B. Hunt Transport Services accounts for 3.4% of Eldred Rock Partners LLC's portfolio, making the stock its 15th largest holding. Eldred Rock Partners LLC owned 0.08% of J.B. Hunt Transport Services worth $11,304,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Summit Securities Group LLC grew its stake in J.B. Hunt Transport Services by 19,600.0% in the 1st quarter. Summit Securities Group LLC now owns 197 shares of the transportation company's stock valued at $29,000 after buying an additional 196 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of J.B. Hunt Transport Services by 167.0% during the 1st quarter. Allworth Financial LP now owns 235 shares of the transportation company's stock worth $35,000 after acquiring an additional 147 shares during the period. National Pension Service lifted its holdings in shares of J.B. Hunt Transport Services by 74.9% during the 1st quarter. National Pension Service now owns 306 shares of the transportation company's stock worth $45,000 after acquiring an additional 131 shares during the period. TD Private Client Wealth LLC lifted its stake in J.B. Hunt Transport Services by 49.3% in the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock valued at $49,000 after purchasing an additional 109 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in J.B. Hunt Transport Services by 34.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 482 shares of the transportation company's stock valued at $71,000 after purchasing an additional 123 shares during the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on JBHT shares. Robert W. Baird assumed coverage on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 1st. They set an "outperform" rating and a $169.00 target price for the company. Bank of America reduced their target price on shares of J.B. Hunt Transport Services from $171.00 to $153.00 and set a "buy" rating for the company in a research report on Tuesday. UBS Group cut shares of J.B. Hunt Transport Services from a "buy" rating to a "neutral" rating and upped their price target for the company from $155.00 to $157.00 in a research note on Friday, September 5th. Citigroup restated a "buy" rating and issued a $170.00 target price (down from $175.00) on shares of J.B. Hunt Transport Services in a research note on Wednesday, July 16th. Finally, Susquehanna increased their price target on shares of J.B. Hunt Transport Services from $155.00 to $157.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, J.B. Hunt Transport Services has an average rating of "Moderate Buy" and an average price target of $164.14.

Insider Transactions at J.B. Hunt Transport Services

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

J.B. Hunt Transport Services Price Performance

JBHT traded down $2.54 during trading on Friday, hitting $132.52. 2,214,390 shares of the company traded hands, compared to its average volume of 1,079,566. The company has a market cap of $12.83 billion, a PE ratio of 24.09, a P/E/G ratio of 2.11 and a beta of 1.28. The stock's 50-day simple moving average is $143.92 and its two-hundred day simple moving average is $142.83. J.B. Hunt Transport Services, Inc. has a 1 year low of $122.79 and a 1 year high of $200.40. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28.

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

J.B. Hunt Transport Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Friday, August 8th. J.B. Hunt Transport Services's payout ratio is 32.00%.

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.