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

Formula Growth Ltd. bought a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 7,000 shares of the transportation company’s stock, valued at approximately $2,026,000.

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

J.B. Hunt Transport Services Trading Down 0.1%

J.B. Hunt Transport Services stock 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 stock has a market capitalization of $24.74 billion, a P/E ratio of 37.31, a PEG ratio of 1.66 and a beta of 1.30. The stock has a 50-day simple moving average of $277.53 and a 200 day simple moving average of $252.44.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, topping analysts’ consensus estimates 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 business’s 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 earnings per share. Analysts expect that J.B. Hunt Transport Services, Inc. will post 7.75 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 21st. Investors of record on Friday, August 7th were issued a dividend of $0.45 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.7%. J.B. Hunt Transport Services’s payout ratio is presently 25.50%.

Wall Street Analyst Weigh In

JBHT has been the topic 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 report on Sunday, June 7th. Sanford C. Bernstein restated an “outperform” rating on shares of J.B. Hunt Transport Services in a report on Thursday, July 16th. Stephens raised their target price on shares of J.B. Hunt Transport Services from $360.00 to $370.00 and gave the company an “overweight” rating in a research report on Thursday, July 16th. Morgan Stanley reiterated an “underweight” rating and issued a $200.00 price target (up from $190.00) on shares of J.B. Hunt Transport Services in a research note on Monday, July 6th. Finally, Weiss Ratings raised shares of J.B. Hunt Transport Services from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $286.30.

Insider Buying and Selling

In related news, EVP David Keefauver sold 703 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $285.13, for a total value of $200,446.39. Following the sale, the executive vice president owned 790 shares in the company, valued at approximately $225,252.70. This represents a 47.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Webb sold 1,500 shares of the firm’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 sale, the executive vice president directly owned 15,881 shares of the company’s stock, valued at $4,510,362.81. This represents a 8.63% decrease in their position. The SEC filing for this sale provides additional information. 2.50% of the stock is currently owned by insiders.

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.