Meeder Asset Management Inc. Sells 6,606 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Meeder Asset Management cut its J.B. Hunt Transport Services stake by 93.5% in the first quarter, selling 6,606 shares and leaving it with just 456 shares worth about $97,000.
• Several other institutions adjusted their holdings, and 74.95% of J.B. Hunt’s stock is now owned by institutional investors. Insider selling also continued, with executives selling 15,847 shares over the last 90 days.
• J.B. Hunt reported strong quarterly results, posting EPS of $1.91 versus the $1.71 estimate and revenue of $3.50 billion, up 19.4% year over year. Analysts remain broadly positive, with an average rating of “Moderate Buy” and a mean price target of $286.30.

Meeder Asset Management Inc. lessened its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 93.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 456 shares of the transportation company's stock after selling 6,606 shares during the quarter. Meeder Asset Management Inc.'s holdings in J.B. Hunt Transport Services were worth $97,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Meeder Advisory Services Inc. increased its position in shares of J.B. Hunt Transport Services by 18.9% during the first quarter. Meeder Advisory Services Inc. now owns 1,879 shares of the transportation company's stock valued at $398,000 after purchasing an additional 299 shares during the period. Dimensional Fund Advisors LP lifted its position in J.B. Hunt Transport Services by 1.8% in the first quarter. Dimensional Fund Advisors LP now owns 968,512 shares of the transportation company's stock worth $205,183,000 after purchasing an additional 17,092 shares during the period. Parallel Advisors LLC lifted its position in J.B. Hunt Transport Services by 5.2% in the first quarter. Parallel Advisors LLC now owns 1,167 shares of the transportation company's stock worth $247,000 after purchasing an additional 58 shares during the period. SEB Asset Management AB acquired a new stake in J.B. Hunt Transport Services during the first quarter worth $3,174,000. Finally, Swiss National Bank boosted its stake in J.B. Hunt Transport Services by 5.3% during the first quarter. Swiss National Bank now owns 223,500 shares of the transportation company's stock worth $47,360,000 after buying an additional 11,200 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors.

Insider Activity

In other J.B. Hunt Transport Services news, EVP Spencer Frazier sold 2,000 shares of the company's stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $258.20, for a total transaction of $516,400.00. Following the sale, the executive vice president directly owned 4,604 shares of the company's stock, valued at approximately $1,188,752.80. This represents a 30.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bradley W. Hicks sold 7,644 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $261.91, for a total transaction of $2,002,040.04. Following the sale, the insider directly owned 23,982 shares of the company's stock, valued at approximately $6,281,125.62. The trade was a 24.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,847 shares of company stock worth $4,162,861 over the last ninety days. Corporate insiders own 2.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on JBHT shares. Raymond James Financial increased their price objective on shares of J.B. Hunt Transport Services from $299.00 to $315.00 and gave the company an "outperform" rating in a research note on Thursday, July 16th. Argus set a $285.00 target price on shares of J.B. Hunt Transport Services in a research report on Monday, April 20th. UBS Group upped their target price on shares of J.B. Hunt Transport Services from $286.00 to $291.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. Evercore reissued an "outperform" rating and issued a $248.00 price target on shares of J.B. Hunt Transport Services in a research report on Monday, May 11th. Finally, Zacks Research upgraded shares of J.B. Hunt Transport Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 16th. Two equities research analysts have 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 company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $286.30.

J.B. Hunt Transport Services Stock Down 0.3%

Shares of NASDAQ JBHT opened at $292.24 on Thursday. The stock has a market cap of $27.56 billion, a PE ratio of 41.39, a PEG ratio of 1.85 and a beta of 1.29. The business has a fifty day moving average of $277.52 and a two-hundred day moving average of $240.59. J.B. Hunt Transport Services, Inc. has a 52-week low of $130.12 and a 52-week high of $299.76. 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 (NASDAQ:JBHT - Get Free Report) last issued its earnings results on Wednesday, July 15th. The transportation company reported $1.91 EPS for the quarter, beating the consensus estimate 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 company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the previous year, the company earned $1.31 EPS. The firm's revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, equities research analysts expect that J.B. Hunt Transport Services, Inc. will post 7.71 earnings per share for the current fiscal year.

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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