T. Rowe Price Investment Management Inc. Has $462.98 Million Stake in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• T. Rowe Price Investment Management Inc. has reduced its stake in J.B. Hunt Transport Services by 10.4%, now holding approximately 3.15% of the company, valued at $462.98 million.
• Analysts have varying outlooks for J.B. Hunt, with target price adjustments: Stifel Nicolaus lowered to $145, while JPMorgan Chase & Co. raised theirs to $180, reflecting a range of sentiments about the stock's potential.
• J.B. Hunt recently declared a quarterly dividend of $0.44 per share, with the dividend yield currently at 1.2% and a payout ratio of 32%.

T. Rowe Price Investment Management Inc. lowered its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 10.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,129,295 shares of the transportation company's stock after selling 364,400 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 3.15% of J.B. Hunt Transport Services worth $462,980,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Summit Securities Group LLC boosted its position in J.B. Hunt Transport Services by 19,600.0% in the first quarter. Summit Securities Group LLC now owns 197 shares of the transportation company's stock valued at $29,000 after buying an additional 196 shares in the last quarter. Allworth Financial LP boosted its position in J.B. Hunt Transport Services by 167.0% in the first quarter. Allworth Financial LP now owns 235 shares of the transportation company's stock valued at $35,000 after buying an additional 147 shares in the last quarter. National Pension Service boosted its position in J.B. Hunt Transport Services by 74.9% in the first quarter. National Pension Service now owns 306 shares of the transportation company's stock valued at $45,000 after buying an additional 131 shares in the last quarter. TD Private Client Wealth LLC boosted its position in J.B. Hunt Transport Services by 49.3% in the first quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock valued at $49,000 after buying an additional 109 shares in the last quarter. Finally, Bessemer Group Inc. boosted its position in J.B. Hunt Transport Services by 22.4% in the first quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock valued at $97,000 after buying an additional 120 shares in the last quarter. Institutional investors own 74.95% of the company's stock.

Insider Activity

In other news, EVP David Keefauver sold 989 shares of the stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total value of $150,298.33. Following the transaction, the executive vice president directly owned 946 shares of the company's stock, valued at $143,763.62. This represents a 51.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Eric Mcgee acquired 1,148 shares of the company's stock in a transaction dated Monday, August 4th. The stock was bought at an average cost of $140.76 per share, for a total transaction of $161,592.48. Following the completion of the transaction, the executive vice president directly owned 7,397 shares of the company's stock, valued at approximately $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 owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on JBHT shares. Citigroup reiterated a "buy" rating and set a $170.00 target price (down from $175.00) on shares of J.B. Hunt Transport Services in a research report on Wednesday, July 16th. Susquehanna raised their price objective on J.B. Hunt Transport Services from $155.00 to $157.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 16th. UBS Group reiterated a "buy" rating on shares of J.B. Hunt Transport Services in a report on Tuesday, July 8th. Barclays upped their price target on shares of J.B. Hunt Transport Services from $135.00 to $145.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Robert W. Baird initiated coverage on shares of J.B. Hunt Transport Services in a report on Tuesday, July 1st. They set an "outperform" rating and a $169.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.90.

J.B. Hunt Transport Services Stock Performance

NASDAQ JBHT traded up $6.74 on Friday, hitting $150.14. 1,224,674 shares of the stock were exchanged, compared to its average volume of 966,272. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. The business's fifty day moving average is $146.11 and its 200 day moving average is $146.19. J.B. Hunt Transport Services, Inc. has a 52 week low of $122.79 and a 52 week high of $200.40. The company has a market capitalization of $14.53 billion, a PE ratio of 27.30, a P/E/G ratio of 2.21 and a beta of 1.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results 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). J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%.The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same period last year, the company posted $1.32 earnings per share. The business's revenue was up .0% compared to the same quarter last year. 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 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services's dividend payout ratio is 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.