J.B. Hunt Transport Services, Inc. $JBHT Shares Sold by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund reduced its J.B. Hunt Transport Services stake by 16.6% in the first quarter, selling 5,055 shares and leaving it with 25,417 shares worth about $5.39 million.
• J.B. Hunt reported better-than-expected quarterly earnings, posting $1.91 EPS on $3.50 billion in revenue, both above analyst estimates, with revenue up 19.4% year over year.
• Wall Street remains constructive on the stock, with multiple firms raising price targets and consensus still at a “Moderate Buy,” while the shares traded near $291 after the earnings release.

Illinois Municipal Retirement Fund lessened its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 16.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,417 shares of the transportation company's stock after selling 5,055 shares during the period. Illinois Municipal Retirement Fund's holdings in J.B. Hunt Transport Services were worth $5,386,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new stake in J.B. Hunt Transport Services in the 2nd quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in J.B. Hunt Transport Services in the fourth quarter valued at about $32,000. MUFG Securities EMEA plc acquired a new position in shares of J.B. Hunt Transport Services during the second quarter worth about $34,000. Whittier Trust Co. lifted its stake in shares of J.B. Hunt Transport Services by 39.1% during the fourth quarter. Whittier Trust Co. now owns 178 shares of the transportation company's stock worth $37,000 after purchasing an additional 50 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its position in shares of J.B. Hunt Transport Services by 34.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company's stock worth $37,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 74.95% of the company's stock.

Wall Street Analysts Forecast Growth

JBHT has been the subject of a number of recent research reports. Citigroup increased their target price on J.B. Hunt Transport Services from $278.00 to $309.00 and gave the company a "neutral" rating in a research note on Thursday. Stephens boosted their price target on J.B. Hunt Transport Services from $360.00 to $370.00 and gave the stock an "overweight" rating in a research report on Thursday. Weiss Ratings cut J.B. Hunt Transport Services from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, April 24th. JPMorgan Chase & Co. increased their price objective on shares of J.B. Hunt Transport Services from $280.00 to $313.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Truist Financial lifted their price objective on shares of J.B. Hunt Transport Services from $280.00 to $295.00 and gave the company a "hold" rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $286.30.

Trending Headlines about J.B. Hunt Transport Services

Here are the key news stories impacting J.B. Hunt Transport Services this week:

• Positive Sentiment: JBHT was added to Zacks' “Strong Buy” momentum list, signaling improving technical and fundamental momentum. Best Momentum Stocks to Buy for July 17th
• Positive Sentiment: Analysts raised price targets after the earnings beat, including JPMorgan, Robert W. Baird, Barclays, Citigroup, and TD Cowen, reflecting confidence in the recovery and margin improvement.
• Positive Sentiment: Reports highlighted shrinking trucking capacity and a shift toward intermodal freight, which could support stronger pricing and volume trends for JBHT. J.B. Hunt Stock Could Reach $340 as Trucking Capacity Shrinks
• Positive Sentiment: JBHT was also featured on relative-strength and momentum screens, indicating that investors see it as one of the stronger names in a choppy market. 5 Top Stocks With Relative Price Strength to Buy Right Now
• Neutral Sentiment: One Zacks article cautioned that while earnings growth and estimate revisions support the rally, the stock’s premium valuation means investors should remain selective. Is JBHT Stock too Expensive or Still Attractive After Its Rally?
• Neutral Sentiment: Analysts’ consensus remains constructive, with coverage still centered around a “Moderate Buy” view.

J.B. Hunt Transport Services Trading Down 2.3%

NASDAQ:JBHT opened at $291.41 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 1.26. J.B. Hunt Transport Services, Inc. has a one year low of $130.12 and a one year high of $299.76. The business's 50-day simple moving average is $274.31 and its 200 day simple moving average is $238.25. The stock has a market cap of $27.48 billion, a price-to-earnings ratio of 41.28, a price-to-earnings-growth ratio of 2.11 and a beta of 1.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last issued its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.71 by $0.20. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the business posted $1.31 earnings per share. J.B. Hunt Transport Services's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, sell-side analysts predict that J.B. Hunt Transport Services, Inc. will post 7.54 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 8th. J.B. Hunt Transport Services's dividend payout ratio is 27.86%.

Insider Activity at J.B. Hunt Transport Services

In other news, COO Nicholas Hobbs sold 1,272 shares of the firm's stock in a transaction that occurred on Wednesday, April 22nd. The shares were sold at an average price of $250.75, for a total transaction of $318,954.00. Following the completion of the sale, the chief operating officer owned 91,736 shares of the company's stock, valued at approximately $23,002,802. This trade represents a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Webb sold 1,500 shares of J.B. Hunt Transport Services stock in a transaction on Friday, June 5th. The stock was sold at an average price of $284.01, for a total transaction of $426,015.00. Following the completion of the sale, the executive vice president owned 15,881 shares of the company's stock, valued at approximately $4,510,362.81. This trade represents a 8.63% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 18,119 shares of company stock worth $4,736,095. 2.50% of the stock is currently owned by insiders.

About J.B. Hunt Transport Services

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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