Norges Bank Takes Position in J.B. Hunt Transport Services, Inc. $JBHT

Norges Bank acquired a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 634,356 shares of the transportation company’s stock, valued at approximately $91,094,000. Norges Bank owned approximately 0.66% of J.B. Hunt Transport Services as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Summit Securities Group LLC grew its position in shares of J.B. Hunt Transport Services by 19,600.0% during the 1st quarter. Summit Securities Group LLC now owns 197 shares of the transportation company’s stock worth $29,000 after buying an additional 196 shares in the last quarter. Private Trust Co. NA lifted its stake in J.B. Hunt Transport Services by 57.8% in the second quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock worth $29,000 after acquiring an additional 74 shares during the period. Assetmark Inc. grew its holdings in J.B. Hunt Transport Services by 418.6% during the 2nd quarter. Assetmark Inc. now owns 223 shares of the transportation company’s stock worth $32,000 after acquiring an additional 180 shares in the last quarter. National Pension Service grew its holdings in J.B. Hunt Transport Services by 74.9% during the 1st quarter. National Pension Service now owns 306 shares of the transportation company’s stock worth $45,000 after acquiring an additional 131 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in J.B. Hunt Transport Services by 38.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 316 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 88 shares during the period. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 6,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $169.00, for a total value of $1,098,500.00. Following the completion of the transaction, the executive vice president owned 12,976 shares of the company’s stock, valued at approximately $2,192,944. This trade represents a 33.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO John Kuhlow sold 3,225 shares of J.B. Hunt Transport Services stock in a transaction on Monday, December 1st. The stock was sold at an average price of $179.76, for a total transaction of $579,726.00. Following the sale, the chief accounting officer owned 13,095 shares of the company’s stock, valued at $2,353,957.20. The trade was a 19.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 12,725 shares of company stock valued at $2,237,846 over the last 90 days. Company insiders own 2.30% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

Shares of JBHT opened at $187.54 on Friday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a market cap of $17.86 billion, a PE ratio of 32.50, a P/E/G ratio of 2.56 and a beta of 1.28. J.B. Hunt Transport Services, Inc. has a 12 month low of $122.79 and a 12 month high of $190.95. The stock has a fifty day moving average price of $160.72 and a 200-day moving average price of $149.30.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its earnings results on Wednesday, October 15th. The transportation company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.30. J.B. Hunt Transport Services had a return on equity of 15.16% and a net margin of 4.75%.The firm had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same period in the previous year, the business earned $1.49 EPS. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Equities research analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services declared that its Board of Directors has initiated a share buyback program on Wednesday, October 22nd that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

J.B. Hunt Transport Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, November 7th. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is presently 30.50%.

Analyst Ratings Changes

Several brokerages have recently weighed in on JBHT. Wells Fargo & Company upped their price target on shares of J.B. Hunt Transport Services from $160.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. TD Cowen upped their target price on J.B. Hunt Transport Services from $140.00 to $152.00 and gave the stock a “hold” rating in a report on Thursday, October 16th. Raymond James Financial lifted their price target on J.B. Hunt Transport Services from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Robert W. Baird upped their price objective on J.B. Hunt Transport Services from $164.00 to $173.00 and gave the stock an “outperform” rating in a research note on Friday, October 17th. Finally, Truist Financial raised their price objective on J.B. Hunt Transport Services from $145.00 to $155.00 and gave the company a “hold” rating in a research report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $166.30.

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.