Perigon Wealth Management LLC Purchases Shares of 4,418 J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Perigon Wealth Management purchased 4,418 shares of J.B. Hunt Transport Services during the second quarter, valued at approximately $1.28 million. Institutional investors collectively own 74.95% of the company.
• J.B. Hunt reported quarterly revenue of $3.50 billion and EPS of $1.91, beating analyst estimates, while revenue increased 19.4% year over year. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $286.30.
• The company declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 0.7% yield. Two executive vice presidents recently sold shares, and insiders own 2.50% of the stock.

Perigon Wealth Management LLC purchased a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,418 shares of the transportation company's stock, valued at approximately $1,279,000.

A number of other hedge funds have also recently made changes to their positions in JBHT. Summitry LLC grew its holdings in shares of J.B. Hunt Transport Services by 2.9% during the 1st quarter. Summitry LLC now owns 1,560 shares of the transportation company's stock valued at $331,000 after purchasing an additional 44 shares during the last quarter. Keybank National Association OH lifted its stake in J.B. Hunt Transport Services by 2.7% in the first quarter. Keybank National Association OH now owns 1,765 shares of the transportation company's stock worth $374,000 after purchasing an additional 46 shares during the last quarter. Root Financial Partners LLC lifted its stake in J.B. Hunt Transport Services by 25.4% in the fourth quarter. Root Financial Partners LLC now owns 232 shares of the transportation company's stock worth $45,000 after purchasing an additional 47 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its position in J.B. Hunt Transport Services by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 8,622 shares of the transportation company's stock valued at $1,827,000 after buying an additional 47 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position in J.B. Hunt Transport Services by 34.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company's stock valued at $37,000 after buying an additional 48 shares during the period. 74.95% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Brian Webb sold 1,500 shares of the business's stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $284.01, for a total transaction of $426,015.00. Following the transaction, the executive vice president directly owned 15,881 shares of the company's stock, valued at approximately $4,510,362.81. The trade was a 8.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP David Keefauver sold 703 shares of the company's stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $285.13, for a total value of $200,446.39. Following the transaction, the executive vice president owned 790 shares of the company's stock, valued at approximately $225,252.70. This represents a 47.09% decrease in their position. The SEC filing for this sale provides additional information. 2.50% of the stock is currently owned by company insiders.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ:JBHT opened at $274.19 on Wednesday. The company has a market cap of $25.75 billion, a price-to-earnings ratio of 38.84, a price-to-earnings-growth ratio of 1.76 and a beta of 1.30. The company has a 50-day moving average price of $279.32 and a 200-day moving average price of $249.98. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. J.B. Hunt Transport Services, Inc. has a 12 month low of $130.12 and a 12 month high of $299.76.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.71 by $0.20. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The company had revenue of $3.50 billion for the quarter, compared to analysts' expectations of $3.26 billion. During the same period last year, the firm earned $1.31 earnings per share. J.B. Hunt Transport Services's quarterly revenue was up 19.4% on a year-over-year basis. As a group, equities 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. Shareholders of record on Friday, August 7th will be issued a $0.45 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.80 annualized dividend and a yield of 0.7%. J.B. Hunt Transport Services's dividend payout ratio (DPR) is 25.50%.

Analysts Set New Price Targets

JBHT has been the topic of several analyst reports. TD Cowen lifted their price objective on J.B. Hunt Transport Services from $265.00 to $297.00 and gave the stock a "hold" rating in a report on Thursday, July 16th. Sanford C. Bernstein restated an "outperform" rating on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. Stifel Nicolaus raised their price target on J.B. Hunt Transport Services from $225.00 to $261.00 and gave the stock a "hold" rating in a research report on Monday, July 13th. Benchmark lifted their price target on J.B. Hunt Transport Services from $250.00 to $300.00 and gave the stock a "buy" rating in a research note on Friday, June 26th. Finally, Zacks Research upgraded J.B. Hunt Transport Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $286.30.

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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