Garrison Financial Corp Has $1,743,000 Stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Garrison Financial Corp continued to hold its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 19,071 shares of the transportation company’s stock at the end of the second quarter. Garrison Financial Corp’s holdings in J.B. Hunt Transport Services were worth $1,743,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of J.B. Hunt Transport Services by 2,611.8% in the first quarter. BlackRock Inc. now owns 6,252,515 shares of the transportation company’s stock valued at $573,604,000 after buying an additional 6,021,944 shares during the last quarter. Renaissance Technologies LLC increased its position in shares of J.B. Hunt Transport Services by 423.1% in the first quarter. Renaissance Technologies LLC now owns 625,344 shares of the transportation company’s stock valued at $57,369,000 after buying an additional 505,800 shares during the last quarter. Morgan Stanley increased its position in shares of J.B. Hunt Transport Services by 228.3% in the first quarter. Morgan Stanley now owns 618,315 shares of the transportation company’s stock valued at $56,724,000 after buying an additional 430,000 shares during the last quarter. First Trust Advisors LP increased its position in shares of J.B. Hunt Transport Services by 609.9% in the first quarter. First Trust Advisors LP now owns 483,978 shares of the transportation company’s stock valued at $44,400,000 after buying an additional 415,801 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in shares of J.B. Hunt Transport Services by 4.1% in the first quarter. Vanguard Group Inc. now owns 9,393,838 shares of the transportation company’s stock valued at $861,790,000 after buying an additional 370,811 shares during the last quarter. 73.09% of the stock is owned by institutional investors and hedge funds.

Shares of J.B. Hunt Transport Services, Inc. (NASDAQ JBHT) opened at 94.70 on Friday. The stock’s 50 day moving average price is $91.36 and its 200-day moving average price is $91.98. J.B. Hunt Transport Services, Inc. has a one year low of $76.20 and a one year high of $102.38. The stock has a market cap of $10.36 billion, a PE ratio of 24.84 and a beta of 0.94.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its quarterly earnings results on Monday, July 17th. The transportation company reported $0.88 earnings per share for the quarter, missing the Zacks’ 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 firm had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period last year, the business earned $0.92 earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, equities analysts predict that J.B. Hunt Transport Services, Inc. will post $3.88 earnings per share for the current fiscal year.

J.B. Hunt Transport Services announced that its board has authorized a share buyback program on Thursday, April 20th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the transportation company to repurchase up to 51% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date is Thursday, August 3rd. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is presently 24.08%.

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Several brokerages recently weighed in on JBHT. Bank of America Corporation reissued a “buy” rating and issued a $109.00 target price (up previously from $98.00) on shares of J.B. Hunt Transport Services in a research note on Monday, July 10th. Deutsche Bank AG boosted their target price on shares of J.B. Hunt Transport Services from $90.00 to $110.00 and gave the company a “hold” rating in a research note on Wednesday, April 19th. BidaskClub downgraded shares of 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 raised shares of 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 reissued an “outperform” rating and issued a $105.00 target price (up previously from $100.00) on shares of J.B. Hunt Transport Services in a research note on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $98.73.

In other news, EVP Nicholas Hobbs sold 4,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $93.55, for a total transaction of $374,200.00. Following the completion of the sale, the executive vice president now directly owns 51,232 shares of the company’s stock, valued at approximately $4,792,753.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David G. Mee sold 10,767 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $91.29, for a total value of $982,919.43. Following the sale, the chief financial officer now directly owns 109,500 shares of the company’s stock, valued at $9,996,255. The disclosure for this sale can be found here. Insiders have sold a total of 32,448 shares of company stock valued at $2,979,740 over the last ninety days. Company 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.

Institutional Ownership by Quarter for J.B. Hunt Transport Services (NASDAQ:JBHT)

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