Pioneer Investment Management Inc. lowered its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 35.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 504,284 shares of the transportation company’s stock after selling 281,122 shares during the period. Pioneer Investment Management Inc. owned 0.46% of J.B. Hunt Transport Services worth $46,081,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of JBHT. Teachers Advisors LLC raised its position in J.B. Hunt Transport Services by 8.3% in the fourth quarter. Teachers Advisors LLC now owns 98,145 shares of the transportation company’s stock worth $9,527,000 after buying an additional 7,511 shares during the last quarter. Macquarie Group Ltd. raised its position in J.B. Hunt Transport Services by 84.9% in the fourth quarter. Macquarie Group Ltd. now owns 111,736 shares of the transportation company’s stock worth $10,845,000 after buying an additional 51,306 shares during the last quarter. Chevy Chase Trust Holdings Inc. raised its position in J.B. Hunt Transport Services by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 74,846 shares of the transportation company’s stock worth $6,867,000 after buying an additional 1,726 shares during the last quarter. Gulf International Bank UK Ltd raised its position in J.B. Hunt Transport Services by 1.5% in the first quarter. Gulf International Bank UK Ltd now owns 27,597 shares of the transportation company’s stock worth $2,531,000 after buying an additional 400 shares during the last quarter. Finally, Capstone Asset Management Co. raised its position in J.B. Hunt Transport Services by 50.1% in the first quarter. Capstone Asset Management Co. now owns 17,978 shares of the transportation company’s stock worth $1,649,000 after buying an additional 6,000 shares during the last quarter. Institutional investors own 73.09% of the company’s stock.
Shares of J.B. Hunt Transport Services, Inc. (JBHT) opened at 90.91 on Wednesday. J.B. Hunt Transport Services, Inc. has a 12-month low of $76.20 and a 12-month high of $102.38. The firm has a market capitalization of $9.95 billion, a P/E ratio of 23.85 and a beta of 0.94. The firm’s 50-day moving average price is $90.77 and its 200-day moving average price is $92.11.
J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its earnings results on Monday, July 17th. The transportation company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by $0.04. J.B. Hunt Transport Services had a return on equity of 30.00% and a net margin of 6.32%. The business had revenue of $1.73 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same period in the prior year, the business posted $0.92 earnings per share. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts predict that J.B. Hunt Transport Services, Inc. will post $3.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be issued a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.92 annualized dividend and a dividend yield of 1.01%. J.B. Hunt Transport Services’s dividend payout ratio is presently 24.08%.
J.B. Hunt Transport Services announced that its board has initiated a stock buyback program on Thursday, April 20th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the transportation company to reacquire up to 51% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.
A number of equities analysts have recently commented on the company. Bank of America Corporation reiterated a “buy” rating and issued a $109.00 price objective (up from $98.00) on shares of J.B. Hunt Transport Services in a research note on Monday, July 10th. Deutsche Bank AG lifted their price objective on J.B. Hunt Transport Services from $90.00 to $110.00 and gave the stock a “hold” rating in a research note on Wednesday, April 19th. BidaskClub lowered J.B. Hunt Transport Services from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research upgraded J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $105.00 price objective (up from $100.00) on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 18th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. J.B. Hunt Transport Services presently has an average rating of “Hold” and a consensus target price of $98.73.
In related news, Chairman James K. Thompson sold 8,503 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $91.76, for a total transaction of $780,235.28. Following the sale, the chairman now owns 51,846 shares in the company, valued at approximately $4,757,388.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nicholas Hobbs sold 4,000 shares of the stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $93.55, for a total transaction of $374,200.00. Following the sale, the executive vice president now owns 51,232 shares in the company, valued at approximately $4,792,753.60. The disclosure for this sale can be found here. Insiders have sold 14,681 shares of company stock worth $1,358,071 over the last ninety days. Insiders own 4.30% of the company’s stock.
About J.B. Hunt Transport Services
J.B. Hunt Transport Services, Inc is a surface transportation, delivery, and logistics company in North America. The Company segments include Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS) and Truck (JBT). The Company, through its subsidiaries, provides transportation and delivery services to a range of customers and consumers throughout the continental United States, Canada and Mexico.
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