Cibc World Markets Corp Buys New Position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Posted by Defense World Staff on May 21st, 2023

Cibc World Markets Corp acquired a new stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT – Get Rating) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 9,738 shares of the transportation company’s stock, valued at approximately $1,698,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in shares of J.B. Hunt Transport Services by 0.9% in the 1st quarter. Mackenzie Financial Corp now owns 6,297 shares of the transportation company’s stock valued at $1,264,000 after buying an additional 56 shares during the period. Vontobel Holding Ltd. raised its position in shares of J.B. Hunt Transport Services by 4.1% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,529 shares of the transportation company’s stock worth $253,000 after acquiring an additional 60 shares in the last quarter. Tempus Wealth Planning LLC raised its position in shares of J.B. Hunt Transport Services by 1.1% during the 3rd quarter. Tempus Wealth Planning LLC now owns 5,338 shares of the transportation company’s stock worth $835,000 after acquiring an additional 60 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of J.B. Hunt Transport Services by 0.9% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,533 shares of the transportation company’s stock worth $1,139,000 after acquiring an additional 60 shares in the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of J.B. Hunt Transport Services by 0.5% during the 1st quarter. Yousif Capital Management LLC now owns 13,252 shares of the transportation company’s stock worth $2,661,000 after acquiring an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 74.93% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

J.B. Hunt Transport Services stock opened at $168.37 on Friday. The firm has a market capitalization of $17.45 billion, a P/E ratio of 19.13, a PEG ratio of 1.33 and a beta of 1.13. The stock has a fifty day moving average price of $172.84 and a 200 day moving average price of $179.10. J.B. Hunt Transport Services, Inc. has a 52 week low of $153.92 and a 52 week high of $200.64. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.26.

J.B. Hunt Transport Services (NASDAQ:JBHT – Get Rating) last released its earnings results on Monday, April 17th. The transportation company reported $1.89 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.23). The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.42 billion. J.B. Hunt Transport Services had a net margin of 6.35% and a return on equity of 25.85%. The business’s revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.29 earnings per share. Equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 8.56 earnings per share 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, May 26th. Shareholders of record on Friday, May 12th will be paid a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, May 11th. This represents a $1.68 annualized dividend and a yield of 1.00%. J.B. Hunt Transport Services’s dividend payout ratio is presently 19.09%.

Insiders Place Their Bets

In other J.B. Hunt Transport Services news, EVP Eric Mcgee sold 1,200 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was sold at an average price of $175.30, for a total transaction of $210,360.00. Following the completion of the sale, the executive vice president now directly owns 1,210 shares in the company, valued at $212,113. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO John Kuhlow sold 3,500 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $176.05, for a total value of $616,175.00. Following the completion of the transaction, the chief financial officer now owns 9,911 shares of the company’s stock, valued at $1,744,831.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric Mcgee sold 1,200 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $175.30, for a total value of $210,360.00. Following the completion of the transaction, the executive vice president now directly owns 1,210 shares of the company’s stock, valued at approximately $212,113. The disclosure for this sale can be found here. Insiders sold 7,158 shares of company stock worth $1,264,895 over the last three months. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Benchmark reissued a “buy” rating and set a $195.00 target price on shares of J.B. Hunt Transport Services in a research report on Wednesday, April 19th. Argus cut their price target on J.B. Hunt Transport Services from $225.00 to $200.00 and set a “buy” rating on the stock in a research report on Thursday, April 20th. Bank of America cut their price target on J.B. Hunt Transport Services from $197.00 to $194.00 and set a “buy” rating on the stock in a research report on Tuesday, April 18th. StockNews.com initiated coverage on J.B. Hunt Transport Services in a report on Thursday. They issued a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised J.B. Hunt Transport Services from a “neutral” rating to an “overweight” rating and set a $204.00 target price on the stock in a report on Thursday, May 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, J.B. Hunt Transport Services has a consensus rating of “Moderate Buy” and an average target price of $189.67.

J.B. Hunt Transport Services Company Profile

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J.B. Hunt Transport Services, Inc engages in the provision of logistics solutions. It operates through the following segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), Final Mile Services (FMS) and Truckload (JBT). The JBI segment offers intermodal freight operations for rail carriers.