Norges Bank Buys Shares of 927,701 J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Norges Bank bought a new position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHTFree Report) during the 4th quarter, Holdings Channel reports. The institutional investor bought 927,701 shares of the transportation company’s stock, valued at approximately $185,299,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in shares of J.B. Hunt Transport Services by 3.0% in the 4th quarter. Victory Capital Management Inc. now owns 2,168,748 shares of the transportation company’s stock worth $433,186,000 after purchasing an additional 62,313 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of J.B. Hunt Transport Services by 184.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,154,757 shares of the transportation company’s stock valued at $406,215,000 after buying an additional 1,397,651 shares in the last quarter. Invesco Ltd. grew its stake in shares of J.B. Hunt Transport Services by 5.6% during the 3rd quarter. Invesco Ltd. now owns 1,090,774 shares of the transportation company’s stock valued at $205,633,000 after acquiring an additional 57,546 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of J.B. Hunt Transport Services by 7,720.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 983,703 shares of the transportation company’s stock valued at $196,485,000 after acquiring an additional 971,124 shares during the period. Finally, American Century Companies Inc. lifted its holdings in J.B. Hunt Transport Services by 24.7% during the third quarter. American Century Companies Inc. now owns 889,369 shares of the transportation company’s stock valued at $167,664,000 after purchasing an additional 176,027 shares in the last quarter. 74.95% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO John N. Roberts purchased 6,200 shares of J.B. Hunt Transport Services stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average price of $161.06 per share, with a total value of $998,572.00. Following the purchase, the chief executive officer now directly owns 313,955 shares of the company’s stock, valued at approximately $50,565,592.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Kevin Bracy sold 754 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $211.79, for a total transaction of $159,689.66. Following the transaction, the senior vice president now owns 8,235 shares in the company, valued at $1,744,090.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO John N. Roberts acquired 6,200 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was acquired at an average cost of $161.06 per share, with a total value of $998,572.00. Following the completion of the purchase, the chief executive officer now owns 313,955 shares of the company’s stock, valued at $50,565,592.30. The disclosure for this purchase can be found here. Insiders have sold a total of 15,454 shares of company stock worth $3,283,219 over the last quarter. Company insiders own 2.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on JBHT. Barclays reduced their price objective on shares of J.B. Hunt Transport Services from $200.00 to $170.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 17th. BMO Capital Markets dropped their price objective on J.B. Hunt Transport Services from $218.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, April 18th. StockNews.com raised J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Stephens cut their price objective on shares of J.B. Hunt Transport Services from $210.00 to $192.00 and set an “overweight” rating for the company in a report on Wednesday, April 17th. Finally, Loop Capital cut their target price on shares of J.B. Hunt Transport Services from $200.00 to $177.00 and set a “hold” rating for the company in a research note on Thursday, April 18th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, J.B. Hunt Transport Services presently has an average rating of “Moderate Buy” and an average target price of $194.24.

Read Our Latest Research Report on J.B. Hunt Transport Services

J.B. Hunt Transport Services Stock Performance

NASDAQ:JBHT opened at $157.98 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.26 and a current ratio of 1.26. The stock’s fifty day moving average is $178.94 and its 200 day moving average is $190.42. The firm has a market capitalization of $16.30 billion, a PE ratio of 25.08, a PEG ratio of 1.81 and a beta of 1.17. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $156.70 and a fifty-two week high of $219.51.

J.B. Hunt Transport Services (NASDAQ:JBHTGet Free Report) last announced its quarterly earnings data on Tuesday, April 16th. The transportation company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.53 by ($0.31). The firm had revenue of $2.94 billion during the quarter, compared to the consensus estimate of $3.12 billion. J.B. Hunt Transport Services had a return on equity of 16.25% and a net margin of 5.25%. On average, sell-side analysts anticipate that J.B. Hunt Transport Services, Inc. will post 6.48 earnings per share for the current year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 1.09%. The ex-dividend date is Thursday, May 9th. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is presently 27.30%.

About J.B. Hunt Transport Services

(Free Report)

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.

See Also

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

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