J.B. Hunt Transport Services, Inc. $JBHT Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management reduced its J.B. Hunt stake by 60.9% in the second quarter, selling 71,719 shares and retaining 46,087 shares valued at approximately $13.3 million. Institutional investors and hedge funds collectively own 74.95% of the company.
• Analyst sentiment remains broadly positive, with J.B. Hunt receiving a consensus rating of “Moderate Buy” and an average price target of $286.30; recent upgrades included “buy” and “strong-buy” ratings.
• J.B. Hunt exceeded quarterly expectations, reporting $1.91 in EPS and $3.50 billion in revenue, up 19.4% year over year. The company also declared a $0.45 quarterly dividend, equivalent to a 0.7% yield.

Assenagon Asset Management S.A. cut its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 60.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,087 shares of the transportation company's stock after selling 71,719 shares during the quarter. Assenagon Asset Management S.A.'s holdings in J.B. Hunt Transport Services were worth $13,339,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. State Street Corp lifted its stake in J.B. Hunt Transport Services by 7.1% in the 2nd quarter. State Street Corp now owns 4,122,669 shares of the transportation company's stock valued at $592,015,000 after buying an additional 272,594 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of J.B. Hunt Transport Services by 1.1% during the first quarter. Janus Henderson Group PLC now owns 3,982,720 shares of the transportation company's stock valued at $843,937,000 after acquiring an additional 41,887 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of J.B. Hunt Transport Services by 17.7% in the fourth quarter. AQR Capital Management LLC now owns 3,755,171 shares of the transportation company's stock valued at $729,780,000 after acquiring an additional 565,605 shares in the last quarter. Invesco Ltd. boosted its stake in shares of J.B. Hunt Transport Services by 5.4% in the third quarter. Invesco Ltd. now owns 1,612,262 shares of the transportation company's stock worth $216,317,000 after acquiring an additional 82,939 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of J.B. Hunt Transport Services during the fourth quarter worth approximately $200,587,000. 74.95% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

JBHT has been the topic of a number of research reports. Sanford C. Bernstein restated an "outperform" rating on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. Morgan Stanley reiterated an "underweight" rating and issued a $200.00 target price (up from $190.00) on shares of J.B. Hunt Transport Services in a research report on Monday, July 6th. Susquehanna set a $345.00 price objective on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Wall Street Zen raised shares of J.B. Hunt Transport Services from a "hold" rating to a "buy" rating in a research note on Sunday, June 7th. Finally, Zacks Research upgraded J.B. Hunt Transport Services from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $286.30.

Insider Buying and Selling at J.B. Hunt Transport Services

In other news, EVP Brian Webb sold 1,500 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $284.01, for a total value of $426,015.00. Following the transaction, the executive vice president owned 15,881 shares in the company, valued at approximately $4,510,362.81. This represents a 8.63% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Spencer Frazier sold 2,000 shares of the firm's stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $258.20, for a total value of $516,400.00. Following the sale, the executive vice president directly owned 4,604 shares in the company, valued at $1,188,752.80. This trade represents a 30.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 15,847 shares of company stock worth $4,162,861. Corporate insiders own 2.50% of the company's stock.

J.B. Hunt Transport Services Price Performance

JBHT stock opened at $266.14 on Tuesday. The company has a market capitalization of $25.00 billion, a PE ratio of 37.70, a P/E/G ratio of 1.69 and a beta of 1.30. 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 current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The business's fifty day moving average price is $280.08 and its 200 day moving average price is $247.02.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.71 by $0.20. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The firm had revenue of $3.50 billion during the quarter, compared to analysts' expectations of $3.26 billion. During the same quarter in the previous year, the business posted $1.31 earnings per share. The business's quarterly revenue was up 19.4% compared to the same quarter last year. On average, sell-side analysts anticipate that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 7th. J.B. Hunt Transport Services's dividend payout ratio is currently 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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