Meiji Yasuda Asset Management Co Ltd. Grows Stock Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its holdings in J.B. Hunt Transport Services by 958.7% in the first quarter, acquiring a total of 15,828 shares valued at approximately $2.34 million.
• The company reported a quarterly earnings per share of $1.31, missing analysts' expectations, while its revenue was $2.93 billion, aligning with projections.
• J.B. Hunt announced a quarterly dividend of $0.44 per share, representing an annualized yield of 1.2% with a payout ratio of 32.00%.

Meiji Yasuda Asset Management Co Ltd. grew its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 958.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,828 shares of the transportation company's stock after buying an additional 14,333 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in J.B. Hunt Transport Services were worth $2,342,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Caxton Associates LLP purchased a new position in shares of J.B. Hunt Transport Services during the 1st quarter valued at about $1,159,000. Goldman Sachs Group Inc. lifted its position in shares of J.B. Hunt Transport Services by 3.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,661 shares of the transportation company's stock valued at $64,160,000 after buying an additional 13,729 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in shares of J.B. Hunt Transport Services by 4.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,712 shares of the transportation company's stock valued at $1,881,000 after buying an additional 561 shares in the last quarter. Scientech Research LLC lifted its holdings in J.B. Hunt Transport Services by 333.1% in the 1st quarter. Scientech Research LLC now owns 10,402 shares of the transportation company's stock worth $1,539,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Petrus Trust Company LTA purchased a new position in J.B. Hunt Transport Services in the 1st quarter worth approximately $405,000. 74.95% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at J.B. Hunt Transport Services

In other news, EVP David Keefauver sold 989 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $151.97, for a total transaction of $150,298.33. Following the transaction, the executive vice president owned 946 shares of the company's stock, valued at approximately $143,763.62. The trade was a 51.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Eric Mcgee purchased 1,148 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were 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 in the company, valued at $1,041,201.72. This trade represents a 18.37% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Raymond James Financial boosted their price target on J.B. Hunt Transport Services from $155.00 to $165.00 and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Citigroup reissued a "buy" rating and issued a $170.00 price target (down from $175.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Wells Fargo & Company reissued an "overweight" rating and issued a $163.00 price target (up from $150.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. JPMorgan Chase & Co. boosted their price target on J.B. Hunt Transport Services from $159.00 to $180.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Finally, Bank of America boosted their price target on J.B. Hunt Transport Services from $166.00 to $171.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold 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 price target of $165.00.

J.B. Hunt Transport Services Price Performance

Shares of JBHT traded down $1.20 during mid-day trading on Monday, hitting $136.73. 254,923 shares of the stock were exchanged, compared to its average volume of 1,116,378. The company has a market cap of $13.24 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. J.B. Hunt Transport Services, Inc. has a 52-week low of $122.79 and a 52-week high of $200.40. The firm has a 50-day moving average of $145.66 and a two-hundred day moving average of $143.44. 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 (NASDAQ:JBHT - Get Free Report) last issued its quarterly earnings data on Tuesday, July 15th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.03). The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations 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 last year, the company earned $1.32 earnings per share. On average, equities analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Stockholders of record on Friday, August 8th were issued 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 of this dividend was Friday, August 8th. J.B. Hunt Transport Services's dividend payout ratio is 32.00%.

J.B. Hunt Transport Services Company 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.