Brown Advisory Inc. Increases Stock Position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Posted by Defense World Staff on Aug 16th, 2023

Brown Advisory Inc. grew its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) by 1.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,407 shares of the transportation company’s stock after buying an additional 65 shares during the period. Brown Advisory Inc.’s holdings in J.B. Hunt Transport Services were worth $1,124,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Credit Suisse AG grew its stake in shares of J.B. Hunt Transport Services by 0.3% during the 4th quarter. Credit Suisse AG now owns 142,355 shares of the transportation company’s stock valued at $24,821,000 after buying an additional 356 shares during the period. Atria Investments Inc acquired a new position in shares of J.B. Hunt Transport Services during the 4th quarter valued at $1,032,000. Asset Management One Co. Ltd. lifted its holdings in shares of J.B. Hunt Transport Services by 1.5% during the 4th quarter. Asset Management One Co. Ltd. now owns 34,164 shares of the transportation company’s stock valued at $6,037,000 after acquiring an additional 518 shares in the last quarter. Desjardins Global Asset Management Inc. lifted its holdings in shares of J.B. Hunt Transport Services by 6.4% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 2,242 shares of the transportation company’s stock valued at $390,000 after acquiring an additional 134 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in shares of J.B. Hunt Transport Services by 11.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 32,132 shares of the transportation company’s stock valued at $5,603,000 after acquiring an additional 3,252 shares in the last quarter. 73.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at J.B. Hunt Transport Services

In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 2,500 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $204.35, for a total transaction of $510,875.00. Following the sale, the executive vice president now directly owns 11,810 shares of the company’s stock, valued at approximately $2,413,373.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 2,500 shares of J.B. Hunt Transport Services stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $204.35, for a total transaction of $510,875.00. Following the transaction, the executive vice president now owns 11,810 shares of the company’s stock, valued at approximately $2,413,373.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman James K. Thompson sold 2,479 shares of the company’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $192.31, for a total value of $476,736.49. Following the completion of the transaction, the chairman now owns 32,559 shares in the company, valued at approximately $6,261,421.29. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,102 shares of company stock worth $2,208,254. 3.10% of the stock is owned by corporate insiders.

J.B. Hunt Transport Services Trading Down 1.4 %

Shares of NASDAQ:JBHT opened at $199.54 on Wednesday. The stock has a market capitalization of $20.62 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.76 and a beta of 1.15. J.B. Hunt Transport Services, Inc. has a 1-year low of $156.28 and a 1-year high of $209.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.21 and a current ratio of 1.21. The company has a 50 day moving average price of $187.87 and a 200 day moving average price of $181.14.

J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) last issued its earnings results on Tuesday, July 18th. The transportation company reported $1.81 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.09). The business had revenue of $3.13 billion for the quarter, compared to the consensus estimate of $3.29 billion. J.B. Hunt Transport Services had a return on equity of 23.06% and a net margin of 6.19%. The company’s quarterly revenue was down 18.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 earnings per share. On average, research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 7.72 EPS for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Friday, August 4th will be issued a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.68 dividend on an annualized basis and a dividend yield of 0.84%. J.B. Hunt Transport Services’s dividend payout ratio is currently 20.51%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on JBHT shares. Argus reduced their target price on shares of J.B. Hunt Transport Services from $225.00 to $200.00 and set a “buy” rating on the stock in a report on Thursday, April 20th. JPMorgan Chase & Co. upgraded shares of J.B. Hunt Transport Services from a “neutral” rating to an “overweight” rating and set a $204.00 price target on the stock in a research note on Thursday, May 11th. 51job restated a “reiterates” rating on shares of J.B. Hunt Transport Services in a research note on Tuesday, June 27th. Morgan Stanley restated an “equal weight” rating and issued a $170.00 price target on shares of J.B. Hunt Transport Services in a research note on Wednesday, July 19th. Finally, StockNews.com initiated coverage on shares of J.B. Hunt Transport Services in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $195.30.

Read Our Latest Analysis on J.B. Hunt Transport Services

About J.B. Hunt Transport Services

(Free Report)

J.B. Hunt Transport Services, Inc provides surface transportation, delivery, and logistic services in North America. 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.