J.B. Hunt Transport Services, Inc. $JBHT Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lifted its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 7.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,927 shares of the transportation company’s stock after purchasing an additional 3,694 shares during the quarter. Pictet Asset Management Holding SA’s holdings in J.B. Hunt Transport Services were worth $11,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of J.B. Hunt Transport Services in the second quarter valued at $1,833,602,000. Junto Capital Management LP boosted its holdings in J.B. Hunt Transport Services by 9.3% during the second quarter. Junto Capital Management LP now owns 426,492 shares of the transportation company’s stock worth $123,440,000 after buying an additional 36,149 shares in the last quarter. Bank of America Corp DE grew its position in J.B. Hunt Transport Services by 2.4% in the first quarter. Bank of America Corp DE now owns 454,610 shares of the transportation company’s stock worth $96,332,000 after buying an additional 10,664 shares during the last quarter. Bank of Nova Scotia raised its position in shares of J.B. Hunt Transport Services by 45.7% during the first quarter. Bank of Nova Scotia now owns 39,514 shares of the transportation company’s stock worth $8,373,000 after purchasing an additional 12,386 shares during the period. Finally, Eldred Rock Partners LLC boosted its holdings in shares of J.B. Hunt Transport Services by 6.5% in the second quarter. Eldred Rock Partners LLC now owns 84,910 shares of the transportation company’s stock worth $24,576,000 after buying an additional 5,167 shares during the period. 74.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

JBHT has been the topic of several recent analyst reports. Sanford C. Bernstein cut their target price on shares of J.B. Hunt Transport Services from $329.00 to $307.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 14th. Truist Financial cut their target price on shares of J.B. Hunt Transport Services from $295.00 to $235.00 and set a “hold” rating for the company in a research report on Wednesday, October 7th. Susquehanna decreased their target price on shares of J.B. Hunt Transport Services from $345.00 to $305.00 and set a “positive” rating for the company in a research note on Friday, October 2nd. Zacks Research lowered J.B. Hunt Transport Services from a “strong-buy” rating to a “hold” rating in a report on Monday, September 14th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of J.B. Hunt Transport Services in a research report on Friday, October 16th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.76.

J.B. Hunt Transport Services Stock Performance

Shares of J.B. Hunt Transport Services stock opened at $227.66 on Friday. The company’s fifty day simple moving average is $234.91 and its 200-day simple moving average is $246.56. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 31.97, a PEG ratio of 1.98 and a beta of 1.26. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.31. J.B. Hunt Transport Services, Inc. has a 1 year low of $157.82 and a 1 year high of $299.76.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its earnings results on Thursday, October 15th. The transportation company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.81 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.59 billion. J.B. Hunt Transport Services had a net margin of 5.07% and a return on equity of 18.72%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. As a group, sell-side analysts expect that J.B. Hunt Transport Services, Inc. will post 7.25 EPS for the current year.

J.B. Hunt Transport Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 6th. J.B. Hunt Transport Services’s payout ratio is currently 25.28%.

J.B. Hunt Transport Services Profile

J.B. Hunt Transport Services is a transportation and logistics company that provides freight services across North America. Its offerings include intermodal transportation, dedicated contract carriage, truckload services, freight brokerage and final-mile delivery. The company’s intermodal business combines rail and truck transportation, while its dedicated services provide customers with vehicles, drivers and related transportation operations. Through its logistics and brokerage operations, J.B. Hunt also arranges freight transportation using a network of carriers.