J.B. Hunt Transport Services, Inc. $JBHT Stake Increased by Bank of America Corp DE

Key Points

• Bank of America increased its J.B. Hunt stake by 2.4% in the first quarter, bringing its holdings to 454,610 shares worth approximately $96.3 million. Institutional investors collectively own 74.95% of the company.
• Analysts maintain a generally positive view, with J.B. Hunt receiving a consensus “Moderate Buy” rating and an average price target of $286.30; recent targets range from $200 to $370.
• 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 quarterly dividend of $0.45 per share, yielding about 0.7%.

Bank of America Corp DE lifted its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 454,610 shares of the transportation company's stock after buying an additional 10,664 shares during the period. Bank of America Corp DE owned about 0.48% of J.B. Hunt Transport Services worth $96,332,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new stake in J.B. Hunt Transport Services during the 2nd quarter worth about $31,000. International Assets Investment Management LLC purchased a new position in J.B. Hunt Transport Services during the 4th quarter valued at about $32,000. MUFG Securities EMEA plc acquired a new position in shares of J.B. Hunt Transport Services in the 2nd quarter valued at about $34,000. Whittier Trust Co. increased its holdings in shares of J.B. Hunt Transport Services by 39.1% in the 4th quarter. Whittier Trust Co. now owns 178 shares of the transportation company's stock valued at $37,000 after purchasing an additional 50 shares during the period. Finally, CIBC Private Wealth Group LLC lifted 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 purchasing an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company's stock.

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

In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 4,000 shares of the firm's stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $254.49, for a total value of $1,017,960.00. Following the sale, the executive vice president owned 8,696 shares of the company's stock, valued at $2,213,045.04. This trade represents a 31.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Bradley W. Hicks sold 7,644 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $261.91, for a total value of $2,002,040.04. Following the completion of the transaction, the insider directly owned 23,982 shares in the company, valued at approximately $6,281,125.62. This represents a 24.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 15,847 shares of company stock worth $4,162,861 in the last ninety days. 2.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

JBHT has been the topic of a number of research analyst reports. Robert W. Baird boosted their price objective on shares of J.B. Hunt Transport Services from $290.00 to $320.00 and gave the company an "outperform" rating in a research report on Thursday, July 16th. Stephens boosted their price target on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the company an "overweight" rating in a report on Thursday, July 16th. Morgan Stanley reaffirmed an "underweight" rating and issued a $200.00 price target (up from $190.00) on shares of J.B. Hunt Transport Services in a research note on Monday, July 6th. Stifel Nicolaus increased their price objective on J.B. Hunt Transport Services from $225.00 to $261.00 and gave the stock a "hold" rating in a report on Monday, July 13th. Finally, Citizens Jmp started coverage on J.B. Hunt Transport Services in a research report on Wednesday, July 15th. They set a "market perform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, J.B. Hunt Transport Services has a consensus rating of "Moderate Buy" and an average price target of $286.30.

J.B. Hunt Transport Services Stock Performance

NASDAQ:JBHT opened at $268.52 on Friday. J.B. Hunt Transport Services, Inc. has a 1 year low of $130.12 and a 1 year high of $299.76. The firm's fifty day simple moving average is $280.35 and its 200 day simple moving average is $246.28. 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 firm has a market capitalization of $25.22 billion, a PE ratio of 38.03, a PEG ratio of 1.69 and a beta of 1.30.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, topping 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 analyst estimates of $3.26 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The business's revenue was up 19.4% on a year-over-year basis. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Investors 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 payout ratio is currently 25.50%.

J.B. Hunt Transport Services Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source