California Public Employees Retirement System Grows Position in J.B. Hunt Transport Services, Inc. $JBHT

California Public Employees Retirement System raised its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 11.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 167,796 shares of the transportation company’s stock after buying an additional 17,884 shares during the period. California Public Employees Retirement System owned about 0.18% of J.B. Hunt Transport Services worth $35,556,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new position in J.B. Hunt Transport Services during the 2nd quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in J.B. Hunt Transport Services during the 4th quarter worth $32,000. MUFG Securities EMEA plc acquired a new position in J.B. Hunt Transport Services in the second quarter worth about $34,000. Whittier Trust Co. grew its position in shares of J.B. Hunt Transport Services by 39.1% in the 4th quarter. Whittier Trust Co. now owns 178 shares of the transportation company’s stock worth $37,000 after acquiring an additional 50 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in J.B. Hunt Transport Services by 34.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 188 shares of the transportation company’s stock worth $37,000 after purchasing an additional 48 shares during the period. Institutional investors and hedge funds own 74.95% of the company’s stock.

Insider Activity

In other news, insider Bradley W. Hicks sold 7,644 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $261.91, for a total value of $2,002,040.04. Following the sale, the insider directly owned 23,982 shares of the company’s stock, valued at approximately $6,281,125.62. This trade represents a 24.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Darren P. Field sold 4,000 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of $254.49, for a total value of $1,017,960.00. Following the completion of the transaction, the executive vice president directly owned 8,696 shares in the company, valued at approximately $2,213,045.04. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 15,847 shares of company stock valued at $4,162,861. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

JBHT has been the subject of a number of research reports. Zacks Research upgraded J.B. Hunt Transport Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 16th. Wells Fargo & Company raised their target price on shares of J.B. Hunt Transport Services from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Thursday, July 16th. Bank of America upped their price objective on J.B. Hunt Transport Services from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, April 16th. Raymond James Financial raised their target price on shares of J.B. Hunt Transport Services from $299.00 to $315.00 and gave the stock an “outperform” rating in a report on Thursday, July 16th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of J.B. Hunt Transport Services in a research note on Thursday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen 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 data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $286.30.

J.B. Hunt Transport Services Price Performance

Shares of NASDAQ:JBHT opened at $293.26 on Wednesday. The firm has a market cap of $27.65 billion, a price-to-earnings ratio of 41.54, a P/E/G ratio of 1.85 and a beta of 1.29. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. J.B. Hunt Transport Services, Inc. has a 1 year low of $130.12 and a 1 year high of $299.76. The business has a fifty day simple moving average of $276.44 and a 200 day simple moving average of $239.90.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings data on Wednesday, July 15th. The transportation company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.71 by $0.20. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The firm had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.26 billion. During the same quarter in the prior year, the company posted $1.31 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, sell-side analysts predict that J.B. Hunt Transport Services, Inc. will post 7.66 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 22nd. Stockholders of record on Friday, May 8th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Friday, May 8th. J.B. Hunt Transport Services’s dividend payout ratio is 25.50%.

J.B. Hunt Transport Services Profile

J.B. Hunt Transport Services, Inc is a leading provider of transportation and logistics solutions headquartered in Lowell, Arkansas. The company offers a comprehensive suite of services designed to move freight efficiently across North America, including intermodal, dedicated contract services, full truckload, less-than-truckload (LTL), final mile delivery and specialized transport.

In its intermodal segment, J.B. Hunt leverages a network of rail and truck assets to transport containers and trailers on major U.S.