US Bancorp DE Trims Stock Holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Key Points

• US Bancorp DE reduced its holdings in J.B. Hunt Transport Services by 21.0%, selling 12,519 shares, leaving them with 46,956 shares worth approximately $6.95 million.
• Several other institutional investors increased their stakes in J.B. Hunt, with NBC Securities showing a staggering 112,900.0% increase, now owning 1,130 shares worth $167,000, highlighting strong institutional interest.
• J.B. Hunt's stock recently traded at $143.24 and reported earnings of $1.31 per share, missing analysts' estimates, while also announcing a quarterly dividend of $0.44 per share.

US Bancorp DE lowered its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 21.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,956 shares of the transportation company's stock after selling 12,519 shares during the quarter. US Bancorp DE's holdings in J.B. Hunt Transport Services were worth $6,947,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its stake in shares of J.B. Hunt Transport Services by 167.0% during the 1st quarter. Allworth Financial LP now owns 235 shares of the transportation company's stock worth $35,000 after purchasing an additional 147 shares during the period. TD Private Client Wealth LLC grew its stake in shares of J.B. Hunt Transport Services by 49.3% during the 1st quarter. TD Private Client Wealth LLC now owns 330 shares of the transportation company's stock worth $49,000 after purchasing an additional 109 shares during the period. Bessemer Group Inc. grew its stake in shares of J.B. Hunt Transport Services by 22.4% during the 1st quarter. Bessemer Group Inc. now owns 656 shares of the transportation company's stock worth $97,000 after purchasing an additional 120 shares during the period. Exchange Traded Concepts LLC grew its stake in shares of J.B. Hunt Transport Services by 13.2% during the 1st quarter. Exchange Traded Concepts LLC now owns 731 shares of the transportation company's stock worth $108,000 after purchasing an additional 85 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of J.B. Hunt Transport Services by 112,900.0% during the 1st quarter. NBC Securities Inc. now owns 1,130 shares of the transportation company's stock worth $167,000 after purchasing an additional 1,129 shares during the period. Institutional investors and hedge funds own 74.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on JBHT shares. JPMorgan Chase & Co. raised their price objective on shares of J.B. Hunt Transport Services from $159.00 to $180.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 16th. Bank of America raised their price objective on shares of J.B. Hunt Transport Services from $166.00 to $171.00 and gave the stock a "buy" rating in a research note on Thursday, July 10th. Baird R W raised shares of J.B. Hunt Transport Services to a "strong-buy" rating in a research note on Tuesday, July 1st. UBS Group reissued a "buy" rating on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus dropped their price target on shares of J.B. Hunt Transport Services from $150.00 to $145.00 and set a "hold" rating on the stock in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $164.90.

Insider Activity at J.B. Hunt Transport Services

In other news, EVP David Keefauver sold 989 shares of J.B. Hunt Transport Services stock in a transaction 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 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

J.B. Hunt Transport Services Trading Down 2.2%

Shares of NASDAQ JBHT traded down $3.18 during trading on Thursday, hitting $140.33. 899,329 shares of the company were exchanged, compared to its average volume of 1,135,581. 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 debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. The company has a fifty day moving average price of $145.39 and a 200-day moving average price of $148.55. The firm has a market capitalization of $13.58 billion, a PE ratio of 25.51, a P/E/G ratio of 2.20 and a beta of 1.29.

J.B. Hunt Transport Services (NASDAQ:JBHT - Get Free Report) last posted its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.03). J.B. Hunt Transport Services had a return on equity of 14.26% and a net margin of 4.59%. The company had revenue of $2.93 billion for the quarter, compared to analysts' expectations of $2.93 billion. During the same quarter in the prior year, the firm earned $1.32 EPS. The firm's revenue was up .0% on a year-over-year basis. 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 business also recently declared a quarterly dividend, which will be paid on Friday, August 22nd. Stockholders of record on Friday, August 8th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, August 8th. J.B. Hunt Transport Services's payout ratio is currently 32.00%.

About J.B. Hunt Transport Services

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.