Cornerstone Advisors LLC Makes New $4.89 Million Investment in J.B. Hunt Transport Services, Inc. $JBHT

Cornerstone Advisors LLC bought a new stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,911 shares of the transportation company’s stock, valued at approximately $4,895,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Elevation Wealth Partners LLC increased its position in shares of J.B. Hunt Transport Services by 500.0% during the second quarter. Elevation Wealth Partners LLC now owns 150 shares of the transportation company’s stock worth $43,000 after purchasing an additional 125 shares in the last quarter. International Assets Investment Management LLC acquired a new position in J.B. Hunt Transport Services in the 4th quarter valued at $32,000. Whittier Trust Co. lifted its holdings in J.B. Hunt Transport Services by 39.1% in the 4th quarter. Whittier Trust Co. now owns 178 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 50 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in J.B. Hunt Transport Services by 34.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 48 shares in the last quarter. Finally, Activest Wealth Management boosted its stake in J.B. Hunt Transport Services by 19,800.0% during the 4th quarter. Activest Wealth Management now owns 199 shares of the transportation company’s stock worth $39,000 after purchasing an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Brian Webb sold 1,500 shares of the business’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $284.01, for a total value of $426,015.00. Following the completion of the sale, the executive vice president directly owned 15,881 shares of the company’s stock, valued at $4,510,362.81. The trade was a 8.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP David Keefauver sold 703 shares of the company’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $285.13, for a total value of $200,446.39. Following the completion of the sale, the executive vice president directly owned 790 shares of the company’s stock, valued at approximately $225,252.70. This trade represents a 47.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 2.50% of the company’s stock.

Wall Street Analysts Forecast Growth

JBHT has been the subject of a number of recent research reports. 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. Stephens upped their price objective on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Benchmark increased their price objective on shares of J.B. Hunt Transport Services from $250.00 to $300.00 and gave the company a “buy” rating in a report on Friday, June 26th. UBS Group raised their target price on shares of J.B. Hunt Transport Services from $286.00 to $291.00 and gave the stock a “neutral” rating in a research note on Thursday, July 16th. Finally, JPMorgan Chase & Co. boosted their target price on J.B. Hunt Transport Services from $280.00 to $313.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $286.30.

J.B. Hunt Transport Services Stock Performance

NASDAQ:JBHT opened at $283.37 on Tuesday. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $130.12 and a fifty-two 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 50 day moving average price of $279.58 and a 200 day moving average price of $249.49. The stock has a market capitalization of $26.61 billion, a P/E ratio of 40.14, a PEG ratio of 1.76 and a beta of 1.30.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.20. The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.26 billion. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The company’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.31 EPS. Equities research analysts forecast that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current year.

J.B. Hunt Transport Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 21st. Stockholders of record on Friday, August 7th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, August 7th. J.B. Hunt Transport Services’s payout ratio is 25.50%.

J.B. Hunt Transport Services Profile

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.