Raymond James Financial Inc. Sells 3,475 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Raymond James Financial Inc. has reduced its holdings in J.B. Hunt Transport Services by 9.8%, now owning 31,857 shares worth approximately $4.71 million.
• J.B. Hunt's stock was recently downgraded by UBS Group from a "buy" to a "neutral" rating, with a price target adjustment from $155 to $157.
• The company declared a quarterly dividend of $0.44 per share, which represents an annual yield of 1.2% and a payout ratio of 32%.

Raymond James Financial Inc. decreased its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 9.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,857 shares of the transportation company's stock after selling 3,475 shares during the period. Raymond James Financial Inc.'s holdings in J.B. Hunt Transport Services were worth $4,713,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. American Century Companies Inc. increased its stake in J.B. Hunt Transport Services by 21.8% in the 1st quarter. American Century Companies Inc. now owns 168,524 shares of the transportation company's stock valued at $24,933,000 after buying an additional 30,151 shares during the last quarter. Aberdeen Group plc increased its stake in J.B. Hunt Transport Services by 74.3% in the 1st quarter. Aberdeen Group plc now owns 58,392 shares of the transportation company's stock valued at $8,575,000 after buying an additional 24,882 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in J.B. Hunt Transport Services by 1.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,201,423 shares of the transportation company's stock valued at $177,738,000 after buying an additional 20,396 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in J.B. Hunt Transport Services by 19.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,014 shares of the transportation company's stock valued at $446,000 after buying an additional 496 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in J.B. Hunt Transport Services by 768.0% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 894 shares of the transportation company's stock valued at $132,000 after buying an additional 791 shares during the last quarter. Hedge funds and other institutional investors own 74.95% of the company's stock.

J.B. Hunt Transport Services Stock Performance

JBHT traded down $0.74 on Monday, hitting $142.99. The company's stock had a trading volume of 1,445,298 shares, compared to its average volume of 984,924. The company's 50 day simple moving average is $146.67 and its 200-day simple moving average is $144.03. The firm has a market cap of $13.84 billion, a P/E ratio of 26.00, a price-to-earnings-growth ratio of 2.21 and a beta of 1.28. J.B. Hunt Transport Services, Inc. has a 12 month low of $122.79 and a 12 month 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 released its quarterly earnings data on Tuesday, July 15th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.93 billion. J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%.The firm's quarterly revenue was up .0% on a year-over-year basis. During the same period last year, the business posted $1.32 earnings per share. Analysts forecast that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors 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 annualized dividend and a yield of 1.2%. J.B. Hunt Transport Services's dividend payout ratio (DPR) is 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 firm's 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 completion of the transaction, the executive vice president directly owned 946 shares of the company's stock, valued at $143,763.62. This trade represents a 51.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Eric Mcgee purchased 1,148 shares of the business's stock in a transaction on Monday, August 4th. The stock was purchased at an average cost of $140.76 per share, with a total value of $161,592.48. Following the completion of the acquisition, the executive vice president owned 7,397 shares in the company, valued at approximately $1,041,201.72. This trade represents a 18.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on JBHT. Citigroup reissued a "buy" rating and set a $170.00 target price (down from $175.00) on shares of J.B. Hunt Transport Services in a research report on Wednesday, July 16th. Susquehanna increased their price objective on J.B. Hunt Transport Services from $155.00 to $157.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Morgan Stanley reduced their price objective on J.B. Hunt Transport Services from $160.00 to $155.00 and set an "equal weight" rating for the company in a report on Monday, July 7th. Wells Fargo & Company reissued an "overweight" rating and set a $163.00 price objective (up from $150.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Finally, Raymond James Financial increased their price objective on J.B. Hunt Transport Services from $155.00 to $165.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat, the company presently 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.