J.B. Hunt Transport Services, Inc. $JBHT Shares Sold by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC has reduced its holdings in J.B. Hunt Transport by 20.8% in Q1 2023, now owning shares valued at approximately $1.10 million.
• Despite a miss in earnings per share at $1.31, J.B. Hunt's quarterly revenue matched expectations at $2.93 billion, marking a 0% increase from the previous year.
• Institutional investors now own 74.95% of J.B. Hunt's stock, with significant increases in holdings from firms like Vanguard Group and JPMorgan Chase in the first quarter.

Rafferty Asset Management LLC decreased its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 20.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,445 shares of the transportation company's stock after selling 1,950 shares during the quarter. Rafferty Asset Management LLC's holdings in J.B. Hunt Transport Services were worth $1,101,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of JBHT. FORA Capital LLC acquired a new position in shares of J.B. Hunt Transport Services in the 1st quarter worth approximately $1,760,000. Ally Financial Inc. grew its position in J.B. Hunt Transport Services by 9.1% during the first quarter. Ally Financial Inc. now owns 24,000 shares of the transportation company's stock valued at $3,551,000 after acquiring an additional 2,000 shares during the last quarter. Comerica Bank grew its holdings in shares of J.B. Hunt Transport Services by 19.0% in the first quarter. Comerica Bank now owns 47,336 shares of the transportation company's stock worth $7,003,000 after purchasing an additional 7,554 shares during the last quarter. Quantitative Investment Management LLC purchased a new stake in J.B. Hunt Transport Services in the first quarter worth $851,000. Finally, Jump Financial LLC purchased a new position in shares of J.B. Hunt Transport Services in the 1st quarter worth about $5,332,000. 74.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

JBHT has been the topic of several recent research reports. Morgan Stanley decreased their price target on J.B. Hunt Transport Services from $160.00 to $155.00 and set an "equal weight" rating on the stock in a report on Monday, July 7th. Baird R W upgraded J.B. Hunt Transport Services to a "strong-buy" rating in a research report on Tuesday, July 1st. Truist Financial boosted their price objective on J.B. Hunt Transport Services from $140.00 to $145.00 and gave the stock a "hold" rating in a research note on Wednesday, July 16th. UBS Group reaffirmed a "buy" rating on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 8th. Finally, Wells Fargo & Company restated an "overweight" rating and set a $163.00 price target (up previously from $150.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $164.90.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ JBHT traded up $1.13 during midday trading on Wednesday, hitting $145.38. 770,861 shares of the company's stock were exchanged, compared to its average volume of 983,618. The firm has a market cap of $14.07 billion, a P/E ratio of 26.43, a PEG ratio of 2.23 and a beta of 1.28. J.B. Hunt Transport Services, Inc. has a twelve month low of $122.79 and a twelve month high of $200.40. The stock's 50 day moving average price is $146.68 and its 200-day moving average price is $144.93. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last released its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $2.93 billion. During the same quarter last year, the company earned $1.32 earnings per share. The firm's revenue was up .0% on a year-over-year basis. Equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current 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. This represents a $1.76 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services's dividend payout ratio is currently 32.00%.

Insider Activity at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP David Keefauver sold 989 shares of the business's stock in a transaction dated 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 $143,763.62. The trade was a 51.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Mcgee bought 1,148 shares of the firm's stock in a transaction that occurred on Monday, August 4th. The shares were purchased at an average cost of $140.76 per share, for a total transaction of $161,592.48. Following the acquisition, the executive vice president directly owned 7,397 shares in the company, 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. 2.30% of the stock is currently owned by company insiders.

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.