Polar Asset Management Partners Inc. Purchases Shares of 10,057 J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Polar Asset Management Partners Inc. purchased over 10,000 shares in J.B. Hunt Transport Services, valued at approximately $1.5 million, indicating institutional interest in the stock.
• Multiple hedge funds, including MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. and Jacobs Levy Equity Management, have significantly increased their stakes in J.B. Hunt, collectively showing a trend of growing institutional investment in the company.
• J.B. Hunt reported a quarterly earnings miss with EPS of $1.31 against an estimate of $1.34, while maintaining revenue at $2.93 billion compared to expectations.

Polar Asset Management Partners Inc. bought a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,057 shares of the transportation company's stock, valued at approximately $1,488,000.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC increased its position in shares of J.B. Hunt Transport Services by 19,600.0% during the first quarter. Summit Securities Group LLC now owns 197 shares of the transportation company's stock valued at $29,000 after buying an additional 196 shares during the period. Allworth Financial LP raised its position in shares of J.B. Hunt Transport Services by 167.0% in the 1st quarter. Allworth Financial LP now owns 235 shares of the transportation company's stock worth $35,000 after acquiring an additional 147 shares in the last quarter. National Pension Service grew its position in shares of J.B. Hunt Transport Services by 74.9% in the 1st quarter. National Pension Service now owns 306 shares of the transportation company's stock worth $45,000 after buying an additional 131 shares during the period. TD Private Client Wealth LLC grew its position in shares of J.B. Hunt Transport Services by 49.3% in the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock worth $49,000 after buying an additional 109 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of J.B. Hunt Transport Services by 34.3% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 482 shares of the transportation company's stock worth $71,000 after buying an additional 123 shares during the period. 74.95% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other J.B. Hunt Transport Services news, EVP Eric Mcgee acquired 1,148 shares of the business's stock in a transaction dated Monday, August 4th. The stock was acquired at an average cost 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 of the company's stock, valued at $1,041,201.72. This represents a 18.37% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Keefauver sold 989 shares of the business's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $151.97, for a total value of $150,298.33. Following the sale, the executive vice president owned 946 shares of the company's stock, valued at $143,763.62. The trade was a 51.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.30% of the company's stock.

J.B. Hunt Transport Services Trading Down 2.0%

JBHT traded down $2.77 during trading on Friday, reaching $138.68. The company had a trading volume of 226,811 shares, compared to its average volume of 1,118,963. The stock has a market cap of $13.42 billion, a P/E ratio of 25.19, a PEG ratio of 2.11 and a beta of 1.28. The business has a 50 day simple moving average of $145.94 and a 200-day simple moving average of $143.82. J.B. Hunt Transport Services, Inc. has a 52 week low of $122.79 and a 52 week high of $200.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.28.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. The firm had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.93 billion. During the same quarter in the prior year, the business posted $1.32 EPS. The business's quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a $0.44 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $1.76 dividend on an annualized basis and a yield of 1.3%. J.B. Hunt Transport Services's payout ratio is presently 32.00%.

Wall Street Analysts Forecast Growth

JBHT has been the topic of a number of analyst reports. UBS Group cut shares of J.B. Hunt Transport Services from a "buy" rating to a "neutral" rating and upped their price target for the stock from $155.00 to $157.00 in a research note on Friday, September 5th. Robert W. Baird initiated coverage on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 1st. They issued an "outperform" rating and a $169.00 price objective on the stock. Bank of America increased their price objective on shares of J.B. Hunt Transport Services from $166.00 to $171.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Morgan Stanley lowered their price objective on shares of J.B. Hunt Transport Services from $160.00 to $155.00 and set an "equal weight" rating on the stock in a research note on Monday, July 7th. Finally, Stifel Nicolaus lowered their price objective on shares of J.B. Hunt Transport Services from $150.00 to $145.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $165.00.

J.B. Hunt Transport Services Company 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.