OP Asset Management Ltd Takes $1.68 Million Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• OP Asset Management opened a new position in J.B. Hunt Transport Services, buying 7,935 shares valued at about $1.68 million in the first quarter.
• J.B. Hunt recently reported better-than-expected quarterly results, with EPS of $1.49 versus estimates of $1.45 and revenue of $3.06 billion, up 4.6% year over year.
• Wall Street sentiment remains mixed but constructive: the stock has a Moderate Buy consensus with an average target price of $239.87, while some analysts have raised targets as high as $300.

OP Asset Management Ltd purchased a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 7,935 shares of the transportation company's stock, valued at approximately $1,681,000.

Several other large investors also recently added to or reduced their stakes in JBHT. Root Financial Partners LLC lifted its holdings in J.B. Hunt Transport Services by 25.4% during the fourth quarter. Root Financial Partners LLC now owns 232 shares of the transportation company's stock valued at $45,000 after purchasing an additional 47 shares during the last quarter. CIBC Private Wealth Group LLC raised 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 valued at $37,000 after purchasing an additional 48 shares during the period. Hartford Funds Management Co LLC raised its position in shares of J.B. Hunt Transport Services by 1.2% in the fourth quarter. Hartford Funds Management Co LLC now owns 4,189 shares of the transportation company's stock valued at $814,000 after purchasing an additional 49 shares during the period. Whittier Trust Co. lifted its stake in shares of J.B. Hunt Transport Services by 39.1% during the 4th quarter. Whittier Trust Co. now owns 178 shares of the transportation company's stock valued at $37,000 after buying an additional 50 shares in the last quarter. Finally, Huntington National Bank lifted its stake in shares of J.B. Hunt Transport Services by 6.7% during the 4th quarter. Huntington National Bank now owns 798 shares of the transportation company's stock valued at $155,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company's stock.

J.B. Hunt Transport Services Stock Performance

NASDAQ JBHT opened at $280.30 on Monday. The company's 50 day simple moving average is $263.32 and its two-hundred day simple moving average is $229.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.26 and a quick ratio of 1.26. J.B. Hunt Transport Services, Inc. has a 1 year low of $130.12 and a 1 year high of $293.54. The stock has a market capitalization of $26.43 billion, a PE ratio of 43.39, a P/E/G ratio of 2.09 and a beta of 1.30.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its quarterly earnings results on Wednesday, April 15th. The transportation company reported $1.49 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.04. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.01 billion. J.B. Hunt Transport Services had a net margin of 5.13% and a return on equity of 17.30%. The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.17 EPS. Analysts predict that J.B. Hunt Transport Services, Inc. will post 7.27 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 22nd. Investors of record on Friday, May 8th were given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.6%. The ex-dividend date was Friday, May 8th. J.B. Hunt Transport Services's payout ratio is presently 27.86%.

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

In other news, EVP Spencer Frazier sold 2,000 shares of J.B. Hunt Transport Services stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $258.20, for a total transaction of $516,400.00. Following the completion of the sale, the executive vice president owned 4,604 shares in the company, valued at approximately $1,188,752.80. This trade represents a 30.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bradley W. Hicks sold 7,644 shares of the business's stock in a transaction dated 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 transaction, the insider directly owned 23,982 shares of the company's stock, valued at $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 18,119 shares of company stock valued at $4,736,095 over the last 90 days. Insiders own 2.50% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on JBHT. Raymond James Financial reiterated an "outperform" rating and issued a $240.00 price objective on shares of J.B. Hunt Transport Services in a research note on Wednesday, April 15th. Truist Financial increased their target price on J.B. Hunt Transport Services from $205.00 to $230.00 and gave the stock a "hold" rating in a research report on Thursday, April 16th. Benchmark raised their price target on J.B. Hunt Transport Services from $250.00 to $300.00 and gave the stock a "buy" rating in a report on Friday. TD Cowen lifted their price target on J.B. Hunt Transport Services from $209.00 to $228.00 and gave the company a "hold" rating in a research report on Thursday, April 16th. Finally, Robert W. Baird increased their price objective on J.B. Hunt Transport Services from $275.00 to $290.00 and gave the stock an "outperform" rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $239.87.

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.

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