7,000 Shares in J.B. Hunt Transport Services, Inc. $JBHT Purchased by Formula Growth Ltd.

Formula Growth Ltd. acquired a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 7,000 shares of the transportation company’s stock, valued at approximately $2,026,000.

A number of other large investors also recently added to or reduced their stakes in JBHT. BlackRock Inc. acquired a new stake in shares of J.B. Hunt Transport Services during the 2nd quarter worth approximately $1,833,602,000. State Street Corp raised its stake in shares of J.B. Hunt Transport Services by 7.1% during the second quarter. State Street Corp now owns 4,122,669 shares of the transportation company’s stock worth $592,015,000 after buying an additional 272,594 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in J.B. Hunt Transport Services by 1.1% in the first quarter. Janus Henderson Group PLC now owns 3,982,720 shares of the transportation company’s stock valued at $843,937,000 after buying an additional 41,887 shares during the period. AQR Capital Management LLC boosted its stake in J.B. Hunt Transport Services by 17.7% in the fourth quarter. AQR Capital Management LLC now owns 3,755,171 shares of the transportation company’s stock valued at $729,780,000 after acquiring an additional 565,605 shares during the last quarter. Finally, Jupiter Topco LLC bought a new position in J.B. Hunt Transport Services in the second quarter valued at approximately $891,349,000. 74.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on JBHT. Wall Street Zen upgraded shares of J.B. Hunt Transport Services from a “hold” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings upgraded J.B. Hunt Transport Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Zacks Research upgraded J.B. Hunt Transport Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 16th. Truist Financial lifted their price objective on J.B. Hunt Transport Services from $280.00 to $295.00 and gave the stock a “hold” rating in a research note on Thursday, July 16th. Finally, Stifel Nicolaus upped their price objective on J.B. Hunt Transport Services from $225.00 to $261.00 and gave the company a “hold” rating in a report on Monday, July 13th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $286.30.

Insider Transactions at J.B. Hunt Transport Services

In other news, EVP David Keefauver sold 703 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $285.13, for a total transaction of $200,446.39. Following the sale, the executive vice president owned 790 shares of the company’s stock, valued at $225,252.70. This trade represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Brian Webb sold 1,500 shares of J.B. Hunt Transport Services stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $284.01, for a total value of $426,015.00. Following the transaction, the executive vice president owned 15,881 shares in the company, valued at $4,510,362.81. This trade represents a 8.63% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.50% of the company’s stock.

J.B. Hunt Transport Services Stock Down 0.1%

Shares of NASDAQ:JBHT opened at $263.39 on Friday. J.B. Hunt Transport Services, Inc. has a 52 week low of $130.12 and a 52 week high of $299.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 1.26. The company has a market capitalization of $24.74 billion, a PE ratio of 37.31, a PEG ratio of 1.66 and a beta of 1.30. The company has a 50 day moving average price of $277.53 and a two-hundred day moving average price of $252.44.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.71 by $0.20. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.26 billion. J.B. Hunt Transport Services had a net margin of 5.31% and a return on equity of 18.75%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period last year, the business posted $1.31 earnings per share. Analysts forecast that J.B. Hunt Transport Services, Inc. will post 7.75 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 21st. Shareholders of record on Friday, August 7th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Friday, August 7th. J.B. Hunt Transport Services’s dividend payout ratio is 25.50%.

About J.B. Hunt Transport Services

J.B. Hunt Transport Services, Inc is a leading provider of transportation and logistics solutions headquartered in Lowell, Arkansas. The company offers a comprehensive suite of services designed to move freight efficiently across North America, including intermodal, dedicated contract services, full truckload, less-than-truckload (LTL), final mile delivery and specialized transport.

In its intermodal segment, J.B. Hunt leverages a network of rail and truck assets to transport containers and trailers on major U.S.