Merit Financial Group LLC Purchases 1,883 Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Merit Financial Group LLC boosted its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 127.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,364 shares of the transportation company's stock after acquiring an additional 1,883 shares during the quarter. Merit Financial Group LLC's holdings in J.B. Hunt Transport Services were worth $498,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP grew its holdings in shares of J.B. Hunt Transport Services by 428.4% during the 4th quarter. Wellington Management Group LLP now owns 1,263,391 shares of the transportation company's stock worth $215,610,000 after purchasing an additional 1,024,295 shares in the last quarter. Norges Bank acquired a new position in shares of J.B. Hunt Transport Services in the 4th quarter valued at about $146,618,000. Demars Financial Group LLC boosted its position in shares of J.B. Hunt Transport Services by 16,964.6% during the 4th quarter. Demars Financial Group LLC now owns 610,059 shares of the transportation company's stock worth $104,113,000 after purchasing an additional 606,484 shares in the last quarter. Thrivent Financial for Lutherans grew its position in J.B. Hunt Transport Services by 111.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 956,504 shares of the transportation company's stock valued at $163,237,000 after purchasing an additional 503,324 shares during the period. Finally, Worldquant Millennium Advisors LLC increased its holdings in J.B. Hunt Transport Services by 2,408.1% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 213,888 shares of the transportation company's stock worth $36,502,000 after purchasing an additional 205,360 shares in the last quarter. Institutional investors own 74.95% of the company's stock.

Insider Activity

In other news, COO Nicholas Hobbs bought 1,529 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Wednesday, April 23rd. The stock was purchased at an average cost of $130.75 per share, with a total value of $199,916.75. Following the completion of the transaction, the chief operating officer now directly owns 91,847 shares in the company, valued at $12,008,995.25. This trade represents a 1.69% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by company insiders.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ JBHT traded up $0.02 during mid-day trading on Thursday, reaching $140.92. 601,054 shares of the company traded hands, compared to its average volume of 994,651. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $122.79 and a fifty-two week high of $200.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.03 and a quick ratio of 0.94. The firm has a market cap of $13.98 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 1.61 and a beta of 1.30. The stock has a fifty day simple moving average of $136.94 and a 200-day simple moving average of $157.06.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last issued its earnings results on Tuesday, April 15th. The transportation company reported $1.17 EPS for the quarter, topping the consensus estimate of $1.15 by $0.02. J.B. Hunt Transport Services had a return on equity of 14.05% and a net margin of 4.72%. The business had revenue of $2.92 billion during the quarter, compared to analysts' expectations of $2.92 billion. Equities 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 23rd. Investors of record on Friday, May 9th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $1.76 annualized dividend and a dividend yield of 1.25%. J.B. Hunt Transport Services's dividend payout ratio is presently 31.94%.

Wall Street Analyst Weigh In

JBHT has been the subject of several research reports. Wells Fargo & Company cut their price target on J.B. Hunt Transport Services from $170.00 to $150.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. The Goldman Sachs Group restated a "neutral" rating and set a $164.00 target price on shares of J.B. Hunt Transport Services in a report on Monday, June 2nd. TD Cowen cut their price target on shares of J.B. Hunt Transport Services from $160.00 to $140.00 and set a "hold" rating on the stock in a report on Wednesday, April 16th. Stifel Nicolaus set a $150.00 price target on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of J.B. Hunt Transport Services from $167.00 to $150.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $161.90.

J.B. Hunt Transport Services Profile

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.