Bank of New York Mellon Corp Sells 64,609 Shares of J.B. Hunt Transport Services, Inc. $JBHT

Bank of New York Mellon Corp lessened its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 12.2% in the second quarter, HoldingsChannel.com reports. The fund owned 465,007 shares of the transportation company’s stock after selling 64,609 shares during the period. Bank of New York Mellon Corp’s holdings in J.B. Hunt Transport Services were worth $66,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Private Trust Co. NA grew its holdings in J.B. Hunt Transport Services by 57.8% during the second quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock worth $29,000 after purchasing an additional 74 shares during the period. Farther Finance Advisors LLC lifted its position in shares of J.B. Hunt Transport Services by 38.6% in the second quarter. Farther Finance Advisors LLC now owns 316 shares of the transportation company’s stock valued at $45,000 after buying an additional 88 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of J.B. Hunt Transport Services by 0.6% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 15,998 shares of the transportation company’s stock worth $2,317,000 after acquiring an additional 103 shares during the period. Trust Investment Advisors boosted its stake in shares of J.B. Hunt Transport Services by 2.3% during the 1st quarter. Trust Investment Advisors now owns 4,697 shares of the transportation company’s stock worth $695,000 after acquiring an additional 104 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in shares of J.B. Hunt Transport Services by 3.4% during the 2nd quarter. Verdence Capital Advisors LLC now owns 3,239 shares of the transportation company’s stock worth $465,000 after acquiring an additional 105 shares during the last quarter. 74.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on JBHT. Citigroup cut their price target on J.B. Hunt Transport Services from $170.00 to $163.00 and set a “buy” rating for the company in a report on Monday, October 13th. Susquehanna raised their target price on shares of J.B. Hunt Transport Services from $145.00 to $160.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 21st. Sanford C. Bernstein set a $172.00 price target on shares of J.B. Hunt Transport Services in a research note on Thursday, October 16th. Stephens reissued an “overweight” rating and issued a $180.00 price target on shares of J.B. Hunt Transport Services in a report on Thursday, October 16th. Finally, Benchmark boosted their price objective on J.B. Hunt Transport Services from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $166.30.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ:JBHT opened at $170.96 on Monday. J.B. Hunt Transport Services, Inc. has a 12-month low of $122.79 and a 12-month high of $200.40. The company’s 50 day moving average price is $148.42 and its two-hundred day moving average price is $144.96. The firm has a market cap of $16.28 billion, a PE ratio of 29.63, a PEG ratio of 2.33 and a beta of 1.27. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25.

J.B. Hunt Transport Services (NASDAQ:JBHT) last issued its quarterly earnings results on Wednesday, October 15th. The transportation company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.30. The business had revenue of ($5,136.05) million during the quarter, compared to analysts’ expectations of $3.02 billion. J.B. Hunt Transport Services had a return on equity of 15.16% and a net margin of 4.75%.The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.49 earnings per share. Equities research analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 7th. J.B. Hunt Transport Services’s dividend payout ratio is 30.50%.

J.B. Hunt Transport Services announced that its Board of Directors has initiated a share repurchase program on Wednesday, October 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Activity at J.B. Hunt Transport Services

In related news, EVP Darren P. Field sold 6,500 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $169.00, for a total value of $1,098,500.00. Following the transaction, the executive vice president owned 12,976 shares in the company, valued at approximately $2,192,944. This trade represents a 33.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

J.B. Hunt Transport Services Profile

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.