Royal Bank of Canada Sells 104,506 Shares of 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 lessened its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 47.8% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 114,220 shares of the transportation company's stock after selling 104,506 shares during the quarter. Royal Bank of Canada owned approximately 0.12% of J.B. Hunt Transport Services worth $16,900,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of J.B. Hunt Transport Services by 13.1% in 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 in the first quarter worth $1,746,000. Bessemer Group Inc. grew its holdings in shares of J.B. Hunt Transport Services by 22.4% in the first 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 period. SG Americas Securities LLC grew its holdings in shares of J.B. Hunt Transport Services by 179.8% in the first 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 period. Finally, Wealth Enhancement Advisory Services LLC grew its holdings in shares of J.B. Hunt Transport Services by 8.1% in the first 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 period. Institutional investors own 74.95% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup reaffirmed a "buy" rating and issued a $170.00 price objective (down previously from $175.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Morgan Stanley cut 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. UBS Group lowered J.B. Hunt Transport Services from a "buy" rating to a "neutral" rating and boosted their price target for the company from $155.00 to $157.00 in a report on Friday, September 5th. Robert W. Baird started coverage on J.B. Hunt Transport Services in a report on Tuesday, July 1st. They set an "outperform" rating and a $169.00 price target for the company. Finally, Wells Fargo & Company reissued 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 research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $165.00.

Insider Transactions at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP David Keefauver sold 989 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $151.97, for a total transaction of $150,298.33. Following the sale, the executive vice president directly owned 946 shares in the company, valued at $143,763.62. This represents a 51.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Eric Mcgee acquired 1,148 shares of the firm's stock in a transaction on Monday, August 4th. The shares were bought at an average price of $140.76 per share, for a total transaction of $161,592.48. Following the completion of the transaction, the executive vice president owned 7,397 shares of the company's stock, 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 insiders.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ:JBHT traded down $1.58 during mid-day trading on Monday, reaching $136.35. The stock had a trading volume of 1,017,008 shares, compared to its average volume of 1,023,403. 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 cap of $13.20 billion, a P/E ratio of 24.79, a price-to-earnings-growth ratio of 2.12 and a beta of 1.28. J.B. Hunt Transport Services, Inc. has a 1 year low of $122.79 and a 1 year high of $200.40. The business's 50 day moving average price is $145.40 and its 200 day moving average price is $143.26.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its earnings results 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 firm had revenue of $2.93 billion during the quarter, compared to analysts' expectations of $2.93 billion. J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%.J.B. Hunt Transport Services's quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.32 earnings per share. Research analysts expect that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, August 8th. J.B. Hunt Transport Services's payout ratio is currently 32.00%.

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.