Woodline Partners LP Purchases 12,323 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Key Points

• Woodline Partners LP increased its holdings in J.B. Hunt Transport Services by 23.1%, acquiring an additional 12,323 shares during the first quarter, bringing its total to 65,660 shares valued at approximately $9.71 million.
• In the first quarter, other institutional investors also boosted their positions, with 74.95% of the company's stock now held by hedge funds and institutional investors.
• The company's stock is currently rated as a Moderate Buy by analysts, with a consensus price target of $165.00, indicating potential upside from current levels.

Woodline Partners LP grew its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT - Free Report) by 23.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 65,660 shares of the transportation company's stock after acquiring an additional 12,323 shares during the period. Woodline Partners LP owned 0.07% of J.B. Hunt Transport Services worth $9,714,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of JBHT. JPMorgan Chase & Co. increased its holdings in J.B. Hunt Transport Services by 14.6% in the first quarter. JPMorgan Chase & Co. now owns 4,853,092 shares of the transportation company's stock valued at $718,015,000 after purchasing an additional 616,986 shares during the period. Worldquant Millennium Advisors LLC increased its holdings in J.B. Hunt Transport Services by 2,408.1% in the fourth quarter. Worldquant Millennium Advisors LLC now owns 213,888 shares of the transportation company's stock valued at $36,502,000 after purchasing an additional 205,360 shares during the period. Nuveen LLC acquired a new stake in J.B. Hunt Transport Services in the first quarter valued at $29,497,000. Vanguard Group Inc. increased its holdings in J.B. Hunt Transport Services by 2.0% in the first quarter. Vanguard Group Inc. now owns 10,048,462 shares of the transportation company's stock valued at $1,486,670,000 after purchasing an additional 195,873 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in J.B. Hunt Transport Services by 194.0% in the fourth quarter. Point72 Asset Management L.P. now owns 258,467 shares of the transportation company's stock valued at $44,110,000 after purchasing an additional 170,561 shares during the period. 74.95% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP David Keefauver sold 989 shares of the firm's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total value of $150,298.33. Following the transaction, the executive vice president owned 946 shares of the company's stock, valued at approximately $143,763.62. This trade represents a 51.11% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Mcgee purchased 1,148 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $140.76 per share, for a total transaction of $161,592.48. Following the transaction, the executive vice president owned 7,397 shares in the company, valued at $1,041,201.72. This represents a 18.37% increase in their position. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on JBHT. The Goldman Sachs Group set a $164.00 price objective on J.B. Hunt Transport Services in a report on Tuesday, July 8th. 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. Citigroup reiterated a "buy" rating and set a $170.00 price target (down from $175.00) on shares of J.B. Hunt Transport Services in a report on Wednesday, July 16th. Susquehanna increased their price target on J.B. Hunt Transport Services from $155.00 to $157.00 and gave the stock a "neutral" rating in a report on Wednesday, July 16th. Finally, Barclays increased their price target on J.B. Hunt Transport Services from $135.00 to $145.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $164.14.

J.B. Hunt Transport Services Stock Up 0.8%

Shares of JBHT stock traded up $1.07 on Wednesday, reaching $138.87. 162,090 shares of the company were exchanged, compared to its average volume of 1,114,479. The company has a market cap of $13.44 billion, a price-to-earnings ratio of 25.26, a PEG ratio of 2.11 and a beta of 1.28. The company has a 50-day moving average of $145.09 and a 200-day moving average of $143.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 0.87 and a quick ratio of 0.87. J.B. Hunt Transport Services, Inc. has a one year low of $122.79 and a one year high of $200.40.

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). 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 the consensus estimate of $2.93 billion. During the same period last year, the company earned $1.32 EPS. J.B. Hunt Transport Services's revenue for the quarter was up .0% compared to the same quarter last year. Analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 22nd. Investors of record on Friday, August 8th were given 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 1.3%. J.B. Hunt Transport Services's dividend payout ratio (DPR) is presently 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.