Synovus Financial Corp Has $309,000 Stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Synovus Financial Corp cut its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 8.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,793 shares of the transportation company’s stock after selling 159 shares during the quarter. Synovus Financial Corp’s holdings in J.B. Hunt Transport Services were worth $309,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Studio Investment Management LLC boosted its position in J.B. Hunt Transport Services by 5.4% during the third quarter. Studio Investment Management LLC now owns 1,068 shares of the transportation company’s stock valued at $184,000 after acquiring an additional 55 shares during the last quarter. iA Global Asset Management Inc. boosted its position in shares of J.B. Hunt Transport Services by 2.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 2,133 shares of the transportation company’s stock valued at $368,000 after purchasing an additional 55 shares in the last quarter. Empirical Finance LLC boosted its position in shares of J.B. Hunt Transport Services by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 2,855 shares of the transportation company’s stock valued at $492,000 after purchasing an additional 56 shares in the last quarter. Farther Finance Advisors LLC grew its stake in J.B. Hunt Transport Services by 18.3% during the third quarter. Farther Finance Advisors LLC now owns 388 shares of the transportation company’s stock worth $67,000 after purchasing an additional 60 shares during the period. Finally, Huntington National Bank increased its holdings in J.B. Hunt Transport Services by 21.8% in the third quarter. Huntington National Bank now owns 341 shares of the transportation company’s stock worth $59,000 after purchasing an additional 61 shares in the last quarter. 74.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on JBHT. Evercore ISI increased their price target on J.B. Hunt Transport Services from $183.00 to $185.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Susquehanna increased their target price on shares of J.B. Hunt Transport Services from $160.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Benchmark reaffirmed a “buy” rating and issued a $185.00 price target on shares of J.B. Hunt Transport Services in a research note on Wednesday, October 16th. Bank of America increased their price objective on shares of J.B. Hunt Transport Services from $188.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Finally, Citigroup boosted their target price on J.B. Hunt Transport Services from $204.00 to $227.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $190.11.

J.B. Hunt Transport Services Stock Performance

Shares of JBHT opened at $170.29 on Thursday. The stock has a 50 day moving average of $181.99 and a 200 day moving average of $171.44. The company has a market capitalization of $17.17 billion, a price-to-earnings ratio of 30.96, a PEG ratio of 2.90 and a beta of 1.15. J.B. Hunt Transport Services, Inc. has a 12 month low of $153.12 and a 12 month high of $219.51. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.26.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its earnings results on Tuesday, October 15th. The transportation company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.42 by $0.07. The company had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3.04 billion. J.B. Hunt Transport Services had a return on equity of 13.92% and a net margin of 4.65%. During the same period in the previous year, the business posted $1.80 EPS. As a group, sell-side analysts forecast that J.B. Hunt Transport Services, Inc. will post 5.7 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Friday, November 8th. J.B. Hunt Transport Services’s dividend payout ratio is currently 31.27%.

Insider Activity

In other J.B. Hunt Transport Services news, EVP Spencer Frazier sold 2,200 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $194.21, for a total transaction of $427,262.00. Following the completion of the transaction, the executive vice president now directly owns 4,050 shares of the company’s stock, valued at approximately $786,550.50. This represents a 35.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shelley Simpson sold 6,000 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $183.47, for a total value of $1,100,820.00. Following the completion of the sale, the chief executive officer now owns 82,264 shares in the company, valued at approximately $15,092,976.08. The trade was a 6.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,459 shares of company stock valued at $2,136,277 in the last three months. Company insiders own 2.10% of the company’s stock.

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.