Royal Bank of Canada Has $16.90 Million Stock Position in J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Royal Bank of Canada reduced its stake in J.B. Hunt Transport Services by 47.8%, selling 104,506 shares and owning 114,220 shares worth approximately $16.9 million as of the latest SEC filing.
• Several institutional investors increased their holdings significantly in J.B. Hunt, with Summit Securities Group LLC increasing by 19,600% and Allworth Financial LP by 167% during the same quarter.
• J.B. Hunt reported quarterly earnings of $1.31 EPS, slightly missing analysts' expectations, with a 52-week market range between $122.79 and $200.40.

Royal Bank of Canada trimmed its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 47.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,220 shares of the transportation company's stock after selling 104,506 shares during the quarter. Royal Bank of Canada owned about 0.12% of J.B. Hunt Transport Services worth $16,900,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in J.B. Hunt Transport Services by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,467 shares of the transportation company's stock worth $1,529,000 after acquiring an additional 1,209 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of J.B. Hunt Transport Services during the 1st quarter worth $1,746,000. Bessemer Group Inc. grew its holdings in shares of J.B. Hunt Transport Services by 22.4% in the 1st quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock worth $97,000 after acquiring an additional 120 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of J.B. Hunt Transport Services by 179.8% in the 1st quarter. SG Americas Securities LLC now owns 3,990 shares of the transportation company's stock worth $590,000 after acquiring an additional 2,564 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of J.B. Hunt Transport Services by 8.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,596 shares of the transportation company's stock worth $976,000 after acquiring an additional 494 shares during the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.

J.B. Hunt Transport Services Stock Down 2.5%

JBHT traded down $3.52 during trading on Friday, reaching $137.93. 652,734 shares of the stock traded hands, compared to its average volume of 1,017,997. The stock has a market cap of $13.35 billion, a price-to-earnings ratio of 25.08, a price-to-earnings-growth ratio of 2.18 and a beta of 1.28. 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 debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. The stock's 50-day simple moving average is $145.66 and its two-hundred day simple moving average is $143.66.

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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.34 by ($0.03). The firm had revenue of $2.93 billion for 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%. J.B. Hunt Transport Services's revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the business posted $1.32 EPS. As a group, equities research analysts expect that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a dividend of $0.44 per share. 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 dividend payout ratio (DPR) is presently 32.00%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on JBHT. Baird R W upgraded J.B. Hunt Transport Services to a "strong-buy" rating in a report on Tuesday, July 1st. The Goldman Sachs Group set a $164.00 target price on J.B. Hunt Transport Services in a report on Tuesday, July 8th. UBS Group cut J.B. Hunt Transport Services from a "buy" rating to a "neutral" rating and lifted their target price for the stock from $155.00 to $157.00 in a report on Friday, September 5th. Wells Fargo & Company restated an "overweight" rating and issued a $163.00 target price (up from $150.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Finally, Stifel Nicolaus decreased their target price on 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. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $165.00.

Insider Transactions at J.B. Hunt Transport Services

In related news, EVP Eric Mcgee bought 1,148 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Monday, August 4th. The stock was 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 owned 7,397 shares in the company, valued at $1,041,201.72. This trade represents a 18.37% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP David Keefauver sold 989 shares of J.B. Hunt Transport Services stock in a transaction dated Wednesday, July 23rd. The stock was 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 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 disclosure for this sale can be found here. Corporate insiders own 2.30% of the company's stock.

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.