JPMorgan Chase & Co. Raises Stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Key Points

• JPMorgan Chase & Co. increased its stake in J.B. Hunt Transport Services by 14.6%, now owning approximately 4.89% of the company, valued at $718 million.
• Several institutional investors have also boosted their holdings in J.B. Hunt, with a notable increase of 112,900% by NBC Securities Inc. in the first quarter.
• The stock has an average rating of "Moderate Buy" from analysts, with a consensus price target of $164.90.

JPMorgan Chase & Co. raised its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 14.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,853,092 shares of the transportation company's stock after acquiring an additional 616,986 shares during the quarter. JPMorgan Chase & Co. owned approximately 4.89% of J.B. Hunt Transport Services worth $718,015,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in JBHT. Allworth Financial LP lifted its stake 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 worth $35,000 after acquiring an additional 147 shares during the last quarter. TD Private Client Wealth LLC raised its holdings in J.B. Hunt Transport Services by 49.3% during the first quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock worth $49,000 after purchasing an additional 109 shares in the last quarter. Bessemer Group Inc. raised its holdings in J.B. Hunt Transport Services by 22.4% during the first quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock worth $97,000 after purchasing an additional 120 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in J.B. Hunt Transport Services by 13.2% during the first quarter. Exchange Traded Concepts LLC now owns 731 shares of the transportation company's stock worth $108,000 after purchasing an additional 85 shares in the last quarter. Finally, NBC Securities Inc. raised its holdings in J.B. Hunt Transport Services by 112,900.0% during the first quarter. NBC Securities Inc. now owns 1,130 shares of the transportation company's stock worth $167,000 after purchasing an additional 1,129 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Citigroup reissued a "buy" rating and set a $170.00 price objective (down previously from $175.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Barclays raised their price objective on shares of J.B. Hunt Transport Services from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Benchmark reissued a "buy" rating and set a $175.00 price objective on shares of J.B. Hunt Transport Services in a report on Wednesday, April 16th. Sanford C. Bernstein set a $148.00 price objective on shares of J.B. Hunt Transport Services and gave the stock a "market perform" rating in a report on Wednesday, April 16th. Finally, Wells Fargo & Company reissued an "overweight" rating and set a $163.00 price objective (up previously from $150.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $164.90.

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

In other J.B. Hunt Transport Services news, EVP David Keefauver sold 989 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total transaction of $150,298.33. Following the sale, the executive vice president directly owned 946 shares in the company, valued at approximately $143,763.62. The trade was a 51.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric Mcgee bought 1,148 shares of the firm's stock in a transaction 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 completion of the transaction, the executive vice president directly owned 7,397 shares in the company, valued at approximately $1,041,201.72. This represents a 18.37% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by insiders.

J.B. Hunt Transport Services Stock Performance

Shares of JBHT opened at $139.44 on Monday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $13.50 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.15 and a beta of 1.29. The company's fifty day moving average is $145.41 and its two-hundred day moving average is $147.74. J.B. Hunt Transport Services, Inc. has a 1 year low of $122.79 and a 1 year high of $200.40.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced 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 during the quarter, compared to analyst estimates of $2.93 billion. J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. The business's quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.32 earnings per share. On average, sell-side 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be given 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 is Friday, August 8th. J.B. Hunt Transport Services's payout ratio is presently 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.

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