Rakuten Investment Management Inc. Takes Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Rakuten Investment Management acquired 12,253 shares of J.B. Hunt Transport Services in the second quarter, worth approximately $3.53 million. Several other institutions also initiated positions, with institutional investors collectively owning 74.95% of the company.
• J.B. Hunt reported stronger-than-expected quarterly results, posting $1.91 in EPS and $3.50 billion in revenue, up 19.4% year over year. Analysts currently have a “Moderate Buy” consensus rating and 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. Shares recently traded at $261.03, below their 50-day moving average of $277.33 but above their 200-day average of $252.69.

Rakuten Investment Management Inc. acquired a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,253 shares of the transportation company's stock, valued at approximately $3,528,000.

A number of other institutional investors also recently bought and sold shares of the stock. Empowered Funds LLC bought a new stake in J.B. Hunt Transport Services during the second quarter valued at about $10,248,000. United Capital Financial Advisors LLC bought a new position in shares of J.B. Hunt Transport Services in the second quarter worth about $553,000. Equitable Holdings Inc. bought a new position in shares of J.B. Hunt Transport Services in the second quarter worth about $342,000. Formula Growth Ltd. purchased a new position in shares of J.B. Hunt Transport Services during the 2nd quarter valued at about $2,026,000. Finally, Jefferies Financial Group Inc. bought a new position in shares of J.B. Hunt Transport Services during the 2nd quarter valued at approximately $3,042,000. 74.95% of the stock is owned by institutional investors.

J.B. Hunt Transport Services Price Performance

NASDAQ JBHT opened at $261.03 on Monday. The stock's 50 day moving average is $277.33 and its 200 day moving average is $252.69. 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. The stock has a market cap of $24.51 billion, a PE ratio of 36.97, a P/E/G ratio of 1.64 and a beta of 1.30.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last announced its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.71 by $0.20. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.26 billion. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The company's revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm posted $1.31 EPS. Research analysts predict that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were given a dividend of $0.45 per share. The ex-dividend date was Friday, August 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. J.B. Hunt Transport Services's dividend payout ratio is currently 25.50%.

Analyst Upgrades and Downgrades

JBHT has been the topic of a number of recent analyst reports. Robert W. Baird raised their target price on shares of J.B. Hunt Transport Services from $290.00 to $320.00 and gave the stock an "outperform" rating in a research note on Thursday, July 16th. Evercore reiterated an "outperform" rating and issued a $248.00 price target on shares of J.B. Hunt Transport Services in a research report on Monday, May 11th. Zacks Research upgraded shares of J.B. Hunt Transport Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 16th. Truist Financial increased their price objective on shares of J.B. Hunt Transport Services from $280.00 to $295.00 and gave the stock a "hold" rating in a research note on Thursday, July 16th. Finally, Stephens raised their price objective on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the company an "overweight" rating in a research report on Thursday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $286.30.

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

In other J.B. Hunt Transport Services news, EVP Brian Webb sold 1,500 shares of J.B. Hunt Transport Services stock in a transaction on Friday, June 5th. The shares were sold at an average price of $284.01, for a total value of $426,015.00. Following the sale, the executive vice president directly owned 15,881 shares in the company, valued at approximately $4,510,362.81. The trade was a 8.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP David Keefauver sold 703 shares of the business's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $285.13, for a total transaction of $200,446.39. Following the completion of the sale, the executive vice president owned 790 shares in the company, valued at approximately $225,252.70. The trade was a 47.09% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.50% of the company's stock.

About J.B. Hunt Transport Services

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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