Westpac Banking Corp Lowers Position in J B Hunt Transport Services Inc (NASDAQ:JBHT)

Westpac Banking Corp lessened its position in J B Hunt Transport Services Inc (NASDAQ:JBHT) by 17.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 122,040 shares of the transportation company’s stock after selling 25,713 shares during the quarter. Westpac Banking Corp owned approximately 0.11% of J B Hunt Transport Services worth $11,156,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Investment Advisors purchased a new position in shares of J B Hunt Transport Services in the 2nd quarter valued at approximately $411,000. Nissay Asset Management Corp Japan ADV lifted its stake in shares of J B Hunt Transport Services by 1.9% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 21,036 shares of the transportation company’s stock valued at $2,131,000 after purchasing an additional 385 shares during the period. Piedmont Investment Advisors Inc. lifted its stake in shares of J B Hunt Transport Services by 2.1% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 7,752 shares of the transportation company’s stock valued at $785,000 after purchasing an additional 158 shares during the period. Geode Capital Management LLC lifted its stake in shares of J B Hunt Transport Services by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 1,239,550 shares of the transportation company’s stock valued at $115,143,000 after purchasing an additional 74,521 shares during the period. Finally, IFM Investors Pty Ltd lifted its stake in shares of J B Hunt Transport Services by 32.8% in the 1st quarter. IFM Investors Pty Ltd now owns 5,814 shares of the transportation company’s stock valued at $589,000 after purchasing an additional 1,437 shares during the period. Institutional investors own 73.48% of the company’s stock.

A number of research analysts have recently commented on JBHT shares. Credit Suisse Group cut J B Hunt Transport Services from an “outperform” rating to a “neutral” rating and raised their target price for the company from $95.00 to $96.00 in a research note on Thursday, July 11th. Cowen reaffirmed a “market perform” rating and set a $113.00 price objective (up previously from $112.00) on shares of J B Hunt Transport Services in a research report on Tuesday, July 16th. Morgan Stanley set a $88.00 price objective on J B Hunt Transport Services and gave the company a “hold” rating in a research report on Monday, July 8th. UBS Group lowered J B Hunt Transport Services from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $121.00 to $96.00 in a research report on Tuesday, June 18th. Finally, BMO Capital Markets reduced their price objective on J B Hunt Transport Services from $110.00 to $106.00 and set a “market perform” rating for the company in a research report on Tuesday, April 16th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $107.13.

In other J B Hunt Transport Services news, EVP Stuart Lockard Scott sold 10,000 shares of J B Hunt Transport Services stock in a transaction on Friday, July 26th. The stock was sold at an average price of $102.51, for a total value of $1,025,100.00. Following the completion of the sale, the executive vice president now owns 16,171 shares of the company’s stock, valued at approximately $1,657,689.21. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David G. Mee sold 6,141 shares of J B Hunt Transport Services stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $103.82, for a total value of $637,558.62. Following the completion of the sale, the chief financial officer now directly owns 117,291 shares of the company’s stock, valued at approximately $12,177,151.62. The disclosure for this sale can be found here. In the last three months, insiders sold 19,341 shares of company stock valued at $1,976,203. Corporate insiders own 3.60% of the company’s stock.

Shares of J B Hunt Transport Services stock traded down $2.33 on Wednesday, reaching $98.76. The company’s stock had a trading volume of 26,567 shares, compared to its average volume of 1,134,064. The company has a market cap of $10.51 billion, a P/E ratio of 17.53, a price-to-earnings-growth ratio of 1.19 and a beta of 1.14. The company’s fifty day moving average price is $96.56. J B Hunt Transport Services Inc has a 52 week low of $83.64 and a 52 week high of $127.93. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.64.

J B Hunt Transport Services (NASDAQ:JBHT) last posted its earnings results on Monday, July 15th. The transportation company reported $1.23 EPS for the quarter, missing the Zacks’ consensus estimate of $1.35 by ($0.12). The business had revenue of $2.26 billion during the quarter, compared to the consensus estimate of $2.26 billion. J B Hunt Transport Services had a return on equity of 29.35% and a net margin of 5.33%. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $1.37 EPS. As a group, analysts expect that J B Hunt Transport Services Inc will post 5.53 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 2nd will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Thursday, August 1st. J B Hunt Transport Services’s payout ratio is 18.34%.

J B Hunt Transport Services Profile

J.B. Hunt Transport Services, Inc, together with its subsidiaries, provides surface transportation and delivery services in the continental United States, Canada, and Mexico. It operates in four segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), and Truckload (JBT).

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Institutional Ownership by Quarter for J B Hunt Transport Services (NASDAQ:JBHT)

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