Norges Bank Buys New Holdings in J.B. Hunt Transport Services, Inc. $JBHT

Norges Bank purchased a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 634,356 shares of the transportation company’s stock, valued at approximately $91,094,000.

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

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 stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $169.00, for a total transaction 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 $2,192,944. This represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Albert Brad Delco sold 1,000 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $179.54, for a total value of $179,540.00. Following the completion of the sale, the chief financial officer directly owned 7,043 shares in the company, valued at $1,264,500.22. This represents a 12.43% 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 worth $2,237,846 in the last quarter. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on JBHT shares. Sanford C. Bernstein set a $172.00 target price on J.B. Hunt Transport Services in a research note on Thursday, October 16th. Stifel Nicolaus boosted their price target on J.B. Hunt Transport Services from $140.00 to $147.00 and gave the company a “hold” rating in a report on Thursday, October 16th. JPMorgan Chase & Co. raised their price objective on shares of J.B. Hunt Transport Services from $170.00 to $176.00 and gave the stock an “overweight” rating in a research note on Thursday, October 16th. Citigroup cut their target price on shares of J.B. Hunt Transport Services from $170.00 to $163.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Truist Financial boosted their target price on shares of J.B. Hunt Transport Services from $145.00 to $155.00 and gave the company a “hold” rating in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $166.30.

J.B. Hunt Transport Services Trading Down 0.2%

Shares of JBHT stock opened at $187.54 on Friday. J.B. Hunt Transport Services, Inc. has a 1-year low of $122.79 and a 1-year high of $190.95. The company has a market cap of $17.86 billion, a price-to-earnings ratio of 32.50, a PEG ratio of 2.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a 50 day simple moving average of $160.72 and a 200-day simple moving average of $149.30.

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

J.B. Hunt Transport Services announced that its Board of Directors has initiated a stock repurchase program on Wednesday, October 22nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the transportation company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

J.B. Hunt Transport Services Announces Dividend

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

J.B. Hunt Transport Services 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.