J.B. Hunt Transport Services, Inc. $JBHT Shares Acquired by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has increased its stake in J.B. Hunt Transport Services by 6.7%, owning a total of 465,147 shares worth approximately $68.8 million.
• J.B. Hunt recently declared a quarterly dividend of $0.44 per share, resulting in an annualized yield of 1.2%.
• Equities analysts have raised their price targets for J.B. Hunt, with estimates ranging from $145 to $180, reflecting a consensus rating of "Moderate Buy".

Alliancebernstein L.P. increased its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 6.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 465,147 shares of the transportation company's stock after purchasing an additional 29,169 shares during the period. Alliancebernstein L.P. owned 0.47% of J.B. Hunt Transport Services worth $68,818,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC increased its position in J.B. Hunt Transport Services by 8.4% during the first quarter. AQR Capital Management LLC now owns 351,850 shares of the transportation company's stock worth $51,638,000 after purchasing an additional 27,211 shares during the last quarter. Amundi increased its position in J.B. Hunt Transport Services by 3.1% during the first quarter. Amundi now owns 519,275 shares of the transportation company's stock worth $70,741,000 after purchasing an additional 15,504 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in J.B. Hunt Transport Services by 118.4% during the first quarter. Adage Capital Partners GP L.L.C. now owns 162,500 shares of the transportation company's stock worth $24,042,000 after purchasing an additional 88,100 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in J.B. Hunt Transport Services by 5.3% during the first quarter. Federation des caisses Desjardins du Quebec now owns 9,060 shares of the transportation company's stock worth $1,340,000 after purchasing an additional 453 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in J.B. Hunt Transport Services during the first quarter worth about $204,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP David Keefauver sold 989 shares of J.B. Hunt Transport Services stock in a transaction that occurred on 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 owned 946 shares in the company, valued at $143,763.62. The trade was a 51.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Eric Mcgee purchased 1,148 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The stock was purchased at an average price 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. The trade was 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 owned by insiders.

J.B. Hunt Transport Services Trading Down 1.1%

NASDAQ JBHT opened at $143.73 on Friday. The firm has a 50 day simple moving average of $146.69 and a 200-day simple moving average of $144.37. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. J.B. Hunt Transport Services, Inc. has a one year low of $122.79 and a one year high of $200.40. The firm has a market cap of $13.91 billion, a price-to-earnings ratio of 26.13, a PEG ratio of 2.21 and a beta of 1.28.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings data on Tuesday, July 15th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. 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 posted $1.32 EPS. The company's revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts anticipate 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 company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were paid a $0.44 dividend. The ex-dividend date was Friday, August 8th. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. J.B. Hunt Transport Services's payout ratio is currently 32.00%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on JBHT shares. JPMorgan Chase & Co. raised their price objective on shares of 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. The Goldman Sachs Group set a $164.00 price objective on shares of J.B. Hunt Transport Services in a research report on Tuesday, July 8th. Raymond James Financial lifted their price target on shares of J.B. Hunt Transport Services from $155.00 to $165.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Citigroup reiterated a "buy" rating and set a $170.00 price target (down from $175.00) on shares of J.B. Hunt Transport Services in a research report on Wednesday, July 16th. Finally, Truist Financial lifted their price target on shares of J.B. Hunt Transport Services from $140.00 to $145.00 and gave the company a "hold" rating in a research report on Wednesday, July 16th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $165.00.

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.

Want to see what other hedge funds are holding JBHT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.