Raymond James Financial Services Advisors Inc. Trims Stock Holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Posted by Defense World Staff on Oct 26th, 2023

Raymond James Financial Services Advisors Inc. lowered its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Free Report) by 72.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,006 shares of the transportation company’s stock after selling 21,044 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in J.B. Hunt Transport Services were worth $1,449,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its holdings in J.B. Hunt Transport Services by 261.2% in the second quarter. Assenagon Asset Management S.A. now owns 13,246 shares of the transportation company’s stock valued at $2,398,000 after purchasing an additional 9,579 shares during the last quarter. OLD National Bancorp IN acquired a new stake in J.B. Hunt Transport Services during the second quarter valued at approximately $211,000. DekaBank Deutsche Girozentrale raised its stake in J.B. Hunt Transport Services by 10.9% during the second quarter. DekaBank Deutsche Girozentrale now owns 36,523 shares of the transportation company’s stock valued at $6,676,000 after buying an additional 3,597 shares in the last quarter. Horrell Capital Management Inc. raised its stake in J.B. Hunt Transport Services by 2.8% during the second quarter. Horrell Capital Management Inc. now owns 57,290 shares of the transportation company’s stock valued at $10,371,000 after buying an additional 1,576 shares in the last quarter. Finally, Country Club Bank GFN acquired a new stake in J.B. Hunt Transport Services during the second quarter valued at approximately $214,000. Hedge funds and other institutional investors own 73.09% of the company’s stock.

Wall Street Analysts Forecast Growth

JBHT has been the topic of several research reports. StockNews.com initiated coverage on J.B. Hunt Transport Services in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Susquehanna dropped their price target on J.B. Hunt Transport Services from $190.00 to $175.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 18th. Barclays increased their price target on J.B. Hunt Transport Services from $200.00 to $210.00 in a research report on Tuesday, July 18th. Stifel Nicolaus increased their price target on J.B. Hunt Transport Services from $162.00 to $174.00 and gave the stock a “hold” rating in a research report on Wednesday, July 19th. Finally, Raymond James dropped their price target on J.B. Hunt Transport Services from $205.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 18th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, J.B. Hunt Transport Services has a consensus rating of “Hold” and a consensus target price of $197.00.

Check Out Our Latest Report on J.B. Hunt Transport Services

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ JBHT opened at $170.04 on Thursday. The stock has a fifty day moving average price of $187.69 and a two-hundred day moving average price of $183.62. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.21 and a current ratio of 1.11. The firm has a market cap of $17.57 billion, a P/E ratio of 22.92, a PEG ratio of 1.57 and a beta of 1.14. J.B. Hunt Transport Services, Inc. has a 1 year low of $163.66 and a 1 year high of $209.21.

J.B. Hunt Transport Services (NASDAQ:JBHT – Get Free Report) last released its quarterly earnings data on Tuesday, October 17th. The transportation company reported $1.80 earnings per share for the quarter, missing the consensus estimate of $1.83 by ($0.03). The company had revenue of $3.16 billion for the quarter, compared to the consensus estimate of $3.17 billion. J.B. Hunt Transport Services had a return on equity of 20.17% and a net margin of 5.89%. The business’s revenue was down 17.6% compared to the same quarter last year. During the same period in the prior year, the business earned $2.57 earnings per share. Research analysts forecast that J.B. Hunt Transport Services, Inc. will post 7.35 EPS for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Friday, November 10th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Thursday, November 9th. J.B. Hunt Transport Services’s dividend payout ratio is presently 22.64%.

Insider Transactions at J.B. Hunt Transport Services

In other news, EVP Darren P. Field sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $204.35, for a total transaction of $510,875.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Eric Mcgee sold 400 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $190.26, for a total value of $76,104.00. Following the completion of the sale, the executive vice president now owns 500 shares of the company’s stock, valued at $95,130. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Darren P. Field sold 2,500 shares of the firm’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $204.35, for a total value of $510,875.00. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 3,388 shares of company stock valued at $687,141 in the last three months. 3.10% of the stock is currently owned by corporate insiders.

J.B. Hunt Transport Services Profile

(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.