Invesco Ltd. Sells 310,896 Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Key Points

• Invesco Ltd. reduced its stake in J.B. Hunt Transport Services by 14.6%, selling 310,896 shares, and now owns approximately 1.83% of the company, valued at around $268.3 million.
• J.B. Hunt Transport Services announced a quarterly dividend of $0.44 per share, representing an annualized payout of $1.76 with a yield of 1.2%.
• The company reported a missed EPS estimate of $1.31 for the last quarter, while its revenue reached $2.93 billion, aligning with consensus expectations.

Invesco Ltd. lowered its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 14.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,813,529 shares of the transportation company's stock after selling 310,896 shares during the period. Invesco Ltd. owned approximately 1.83% of J.B. Hunt Transport Services worth $268,312,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. Raymond James Financial Inc. purchased a new position in J.B. Hunt Transport Services during the 4th quarter worth approximately $6,030,000. Townsquare Capital LLC grew its position in J.B. Hunt Transport Services by 11.0% during the 4th quarter. Townsquare Capital LLC now owns 1,653 shares of the transportation company's stock worth $282,000 after purchasing an additional 164 shares in the last quarter. Canada Post Corp Registered Pension Plan purchased a new position in J.B. Hunt Transport Services during the 4th quarter worth approximately $201,000. Guggenheim Capital LLC grew its position in J.B. Hunt Transport Services by 29.7% during the 4th quarter. Guggenheim Capital LLC now owns 51,317 shares of the transportation company's stock worth $8,758,000 after purchasing an additional 11,760 shares in the last quarter. Finally, Ontario Teachers Pension Plan Board grew its position in J.B. Hunt Transport Services by 129.5% during the 4th quarter. Ontario Teachers Pension Plan Board now owns 11,504 shares of the transportation company's stock worth $1,963,000 after purchasing an additional 6,492 shares in the last quarter. Institutional investors own 74.95% of the company's stock.

Analyst Upgrades and Downgrades

JBHT has been the topic of several research analyst reports. Wells Fargo & Company restated an "overweight" rating and set a $163.00 price target (up from $150.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Citigroup restated a "buy" rating and set a $170.00 price target (down from $175.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Baird R W upgraded shares of J.B. Hunt Transport Services to a "strong-buy" rating in a report on Tuesday, July 1st. Bank of America boosted their price target on shares of 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, Susquehanna boosted their price target on shares of J.B. Hunt Transport Services from $155.00 to $157.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.90.

Insider Transactions at J.B. Hunt Transport Services

In other news, EVP David Keefauver sold 989 shares of the company's 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 completion of the transaction, the executive vice president owned 946 shares of the company's stock, valued at approximately $143,763.62. This represents a 51.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric Mcgee bought 1,148 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $140.76 per share, for a total transaction of $161,592.48. Following the purchase, the executive vice president 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 disclosure for this purchase can be found here. 2.30% of the stock is currently owned by corporate insiders.

J.B. Hunt Transport Services Stock Performance

J.B. Hunt Transport Services stock traded down $1.00 on Friday, reaching $143.45. 544,605 shares of the stock were exchanged, compared to its average volume of 1,064,553. The stock has a market cap of $13.89 billion, a PE ratio of 26.08, a PEG ratio of 2.21 and a beta of 1.29. 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, Inc. has a twelve month low of $122.79 and a twelve month high of $200.40. The firm has a fifty day moving average price of $145.77 and a two-hundred day moving average price of $146.90.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its earnings results on Tuesday, July 15th. The transportation company reported $1.31 earnings per share for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). The firm 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 revenue was up .0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.32 EPS. Sell-side analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current year.

J.B. Hunt Transport Services Dividend Announcement

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

About J.B. Hunt Transport Services

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.