Primecap Management Co. CA Decreases Stock Holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Key Points

• Primecap Management Co. CA reduced its stake in J.B. Hunt Transport Services by 1.2%, holding 640,810 shares worth approximately $94.8 million as of the latest reporting period.
• Several institutional investors, including Allworth Financial LP and TD Private Client Wealth LLC, have significantly increased their holdings in J.B. Hunt Transport Services in the first quarter.
• Analysts have set a consensus target price of $164.90 for J.B. Hunt's stock, with multiple firms rating it as a "buy" or "outperform" despite a recent earnings miss.

Primecap Management Co. CA trimmed its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 1.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 640,810 shares of the transportation company's stock after selling 7,690 shares during the quarter. Primecap Management Co. CA owned about 0.65% of J.B. Hunt Transport Services worth $94,808,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of J.B. Hunt Transport Services by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 10,048,462 shares of the transportation company's stock worth $1,486,670,000 after acquiring an additional 195,873 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in J.B. Hunt Transport Services by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 3,390,200 shares of the transportation company's stock worth $578,572,000 after buying an additional 15,476 shares in the last quarter. Invesco Ltd. lifted its holdings in J.B. Hunt Transport Services by 5.1% during the 4th quarter. Invesco Ltd. now owns 2,124,425 shares of the transportation company's stock worth $362,554,000 after buying an additional 104,019 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in J.B. Hunt Transport Services by 0.7% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,319,637 shares of the transportation company's stock worth $225,209,000 after buying an additional 8,725 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in J.B. Hunt Transport Services by 10.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,181,027 shares of the transportation company's stock worth $201,555,000 after buying an additional 108,933 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on JBHT. Barclays increased their target price on shares of J.B. Hunt Transport Services from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Truist Financial increased their target price on shares of J.B. Hunt Transport Services from $140.00 to $145.00 and gave the stock a "hold" rating in a report on Wednesday, July 16th. Bank of America increased their target price on shares of J.B. Hunt Transport Services from $166.00 to $171.00 and gave the stock a "buy" rating in a report on Thursday, July 10th. Stifel Nicolaus reduced their target price on shares of J.B. Hunt Transport Services from $150.00 to $145.00 and set a "hold" rating on the stock in a report on Wednesday, July 16th. Finally, The Goldman Sachs Group set a $164.00 target price on shares of J.B. Hunt Transport Services in a report on Tuesday, July 8th. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $164.90.

J.B. Hunt Transport Services Stock Down 0.6%

NASDAQ:JBHT traded down $0.89 during midday trading on Friday, hitting $139.44. 990,275 shares of the company were exchanged, compared to its average volume of 1,182,719. The company has a fifty day simple moving average of $145.41 and a 200 day simple moving average of $148.09. 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 current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $13.50 billion, a PE ratio of 25.35, a price-to-earnings-growth ratio of 2.16 and a beta of 1.29.

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

J.B. Hunt Transport Services Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 22nd. Shareholders of record on Friday, August 8th will be paid a $0.44 dividend. The ex-dividend date is 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 currently 32.00%.

Insiders Place Their Bets

In other J.B. Hunt Transport Services news, EVP David Keefauver sold 989 shares of J.B. Hunt Transport Services stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total value of $150,298.33. Following the transaction, the executive vice president directly owned 946 shares in the company, valued at approximately $143,763.62. The trade was a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Mcgee acquired 1,148 shares of the company's stock in a transaction on Monday, August 4th. The stock was acquired at an average price of $140.76 per share, for a total transaction of $161,592.48. Following the completion of the purchase, the executive vice president owned 7,397 shares of the company's stock, valued at $1,041,201.72. This trade represents a 18.37% increase in their position. The disclosure for this purchase can be found here. Insiders own 2.30% of the company's stock.

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.