Canada Pension Plan Investment Board Lowers Stock Holdings in J.B. Hunt Transport Services, Inc. $JBHT

Canada Pension Plan Investment Board reduced its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 16.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 76,846 shares of the transportation company’s stock after selling 14,985 shares during the quarter. Canada Pension Plan Investment Board owned about 0.08% of J.B. Hunt Transport Services worth $11,369,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in J.B. Hunt Transport Services by 13.1% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 10,467 shares of the transportation company’s stock worth $1,529,000 after acquiring an additional 1,209 shares in the last quarter. Teacher Retirement System of Texas bought a new position in J.B. Hunt Transport Services in the 1st quarter worth about $1,746,000. Bessemer Group Inc. boosted its stake in J.B. Hunt Transport Services by 22.4% in the 1st quarter. Bessemer Group Inc. now owns 656 shares of the transportation company’s stock worth $97,000 after purchasing an additional 120 shares in the last quarter. SG Americas Securities LLC grew its position in J.B. Hunt Transport Services by 179.8% during the 1st quarter. SG Americas Securities LLC now owns 3,990 shares of the transportation company’s stock valued at $590,000 after purchasing an additional 2,564 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in J.B. Hunt Transport Services by 8.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,596 shares of the transportation company’s stock worth $976,000 after buying an additional 494 shares during the last quarter. Institutional investors own 74.95% of the company’s stock.

J.B. Hunt Transport Services Stock Up 0.7%

JBHT stock opened at $144.99 on Tuesday. The company has a market cap of $14.04 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.23 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.87 and a current ratio of 0.87. The business’s 50-day moving average is $146.61 and its two-hundred day moving average is $144.93. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $122.79 and a fifty-two week high of $200.40.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings results on Tuesday, July 15th. The transportation company reported $1.31 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.03). J.B. Hunt Transport Services had a net margin of 4.59% and a return on equity of 14.26%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter in the prior year, the firm earned $1.32 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts forecast that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 22nd. Shareholders of record on Friday, August 8th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 8th. J.B. Hunt Transport Services’s dividend payout ratio is currently 32.00%.

Analysts Set New Price Targets

A number of research firms have recently commented on JBHT. Raymond James Financial increased their price target on shares of J.B. Hunt Transport Services from $155.00 to $165.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. Truist Financial lifted their target price on J.B. Hunt Transport Services from $140.00 to $145.00 and gave the stock a “hold” rating in a report on Wednesday, July 16th. Morgan Stanley decreased their price target on J.B. Hunt Transport Services from $160.00 to $155.00 and set an “equal weight” rating for the company in a research note on Monday, July 7th. JPMorgan Chase & Co. increased their price objective on J.B. Hunt Transport Services from $159.00 to $180.00 and gave the company an “overweight” rating in a research report on Wednesday, July 16th. Finally, Barclays boosted their target price on J.B. Hunt Transport Services from $135.00 to $145.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, J.B. Hunt Transport Services has an average rating of “Moderate Buy” and a consensus price target of $164.90.

Insider Activity at J.B. Hunt Transport Services

In other news, EVP David Keefauver sold 989 shares of J.B. Hunt Transport Services stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $151.97, for a total transaction of $150,298.33. Following the transaction, the executive vice president owned 946 shares in the company, valued at $143,763.62. This trade represents a 51.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Eric Mcgee acquired 1,148 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were acquired at an average cost of $140.76 per share, with a total value of $161,592.48. Following the transaction, the executive vice president owned 7,397 shares in the company, valued at approximately $1,041,201.72. This trade represents a 18.37% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.30% of the stock is currently owned by company insiders.

About J.B. Hunt Transport Services

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.