Edgestream Partners L.P. Boosts Holdings in J.B. Hunt Transport Services, Inc. $JBHT

Edgestream Partners L.P. raised its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 339.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,531 shares of the transportation company’s stock after acquiring an additional 29,754 shares during the period. Edgestream Partners L.P.’s holdings in J.B. Hunt Transport Services were worth $5,533,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Wealthedge Investment Advisors LLC bought a new position in J.B. Hunt Transport Services during the 2nd quarter valued at about $920,000. Lido Advisors LLC boosted its position in shares of J.B. Hunt Transport Services by 10.7% during the second quarter. Lido Advisors LLC now owns 141,225 shares of the transportation company’s stock valued at $20,280,000 after buying an additional 13,686 shares during the period. Loomis Sayles & Co. L P grew its stake in shares of J.B. Hunt Transport Services by 3.7% during the second quarter. Loomis Sayles & Co. L P now owns 78,413 shares of the transportation company’s stock valued at $11,260,000 after buying an additional 2,788 shares during the last quarter. Norges Bank bought a new stake in shares of J.B. Hunt Transport Services during the 2nd quarter worth approximately $91,094,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in J.B. Hunt Transport Services by 21.0% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 583 shares of the transportation company’s stock valued at $84,000 after acquiring an additional 101 shares during the period. Institutional investors own 74.95% of the company’s stock.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Stifel Nicolaus boosted their target price on shares of J.B. Hunt Transport Services from $140.00 to $147.00 and gave the company a “hold” rating in a research note on Thursday, October 16th. BMO Capital Markets boosted their price objective on shares of J.B. Hunt Transport Services from $172.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, October 16th. Truist Financial raised their target price on shares of J.B. Hunt Transport Services from $145.00 to $155.00 and gave the stock a “hold” rating in a research report on Thursday, October 16th. Evercore ISI boosted their price target on J.B. Hunt Transport Services from $155.00 to $168.00 and gave the company an “outperform” rating in a report on Thursday, October 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of J.B. Hunt Transport Services in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have given a Hold rating to the stock. According to MarketBeat, J.B. Hunt Transport Services presently has an average rating of “Moderate Buy” and a consensus target price of $166.30.

J.B. Hunt Transport Services Trading Up 3.3%

JBHT opened at $185.73 on Wednesday. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a market cap of $17.68 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 2.33 and a beta of 1.27. J.B. Hunt Transport Services, Inc. has a 12 month low of $122.79 and a 12 month high of $188.00. The stock has a fifty day moving average price of $158.52 and a 200-day moving average price of $148.75.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its 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 company had revenue of $3.05 billion for the quarter, compared to analyst estimates 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 quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.49 earnings per share. As a group, equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services declared that its Board of Directors has authorized a stock buyback program on Wednesday, October 22nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the transportation company to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

J.B. Hunt Transport Services Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 21st. Investors of record on Friday, November 7th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 0.9%. The ex-dividend date was Friday, November 7th. J.B. Hunt Transport Services’s payout ratio is 30.50%.

About J.B. Hunt Transport Services

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.