J.B. Hunt Transport Services, Inc. (JBHT) Position Reduced by Westfield Capital Management Co. LP

Westfield Capital Management Co. LP decreased its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 659,243 shares of the transportation company’s stock after selling 73,260 shares during the quarter. Westfield Capital Management Co. LP owned approximately 0.60% of J.B. Hunt Transport Services worth $60,242,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in JBHT. BlackRock Inc. boosted its stake in J.B. Hunt Transport Services by 2,611.8% in the 1st 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 in the last quarter. Sustainable Growth Advisers LP acquired a new stake in J.B. Hunt Transport Services in the 2nd quarter valued at $147,610,000. Bank of New York Mellon Corp boosted its stake in J.B. Hunt Transport Services by 25.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,655,290 shares of the transportation company’s stock valued at $242,640,000 after buying an additional 531,089 shares in the last quarter. Renaissance Technologies LLC boosted its stake in J.B. Hunt Transport Services by 423.1% in the 1st 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 in the last quarter. Finally, Morgan Stanley boosted its stake in J.B. Hunt Transport Services by 228.3% in the 1st 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 in the last quarter. 71.60% of the stock is currently owned by institutional investors and hedge funds.

In related news, major shareholder J B. Hunt Llc sold 975,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $98.00, for a total transaction of $95,550,000.00. Following the sale, the insider now owns 17,477,085 shares of the company’s stock, valued at approximately $1,712,754,330. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John Kuhlow sold 810 shares of the firm’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $93.71, for a total value of $75,905.10. Following the sale, the senior vice president now directly owns 3,999 shares in the company, valued at approximately $374,746.29. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,052,872 shares of company stock worth $103,066,436. 4.30% of the stock is currently owned by company insiders.

JBHT has been the topic of several recent analyst reports. BidaskClub lowered J.B. Hunt Transport Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Bank of America Corporation reiterated a “buy” rating and issued a $109.00 price objective (up previously from $98.00) on shares of J.B. Hunt Transport Services in a research report on Monday, July 10th. J P Morgan Chase & Co started coverage on J.B. Hunt Transport Services in a research report on Tuesday, May 23rd. They issued an “overweight” rating and a $107.00 price objective for the company. Cowen and Company reiterated a “buy” rating and issued a $102.00 price objective on shares of J.B. Hunt Transport Services in a research report on Friday, August 25th. Finally, Zacks Investment Research downgraded J.B. Hunt Transport Services from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Nine research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $98.80.

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J.B. Hunt Transport Services, Inc. (JBHT) traded up 1.74% during midday trading on Friday, hitting $101.57. The stock had a trading volume of 1,087,940 shares. J.B. Hunt Transport Services, Inc. has a 52 week low of $76.20 and a 52 week high of $102.99. The company’s 50-day moving average price is $96.41 and its 200 day moving average price is $91.93. The company has a market capitalization of $11.12 billion, a PE ratio of 26.64 and a beta of 0.93.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings data on Monday, July 17th. The transportation company reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.92 by ($0.04). J.B. Hunt Transport Services had a net margin of 6.32% and a return on equity of 30.00%. The firm had revenue of $1.73 billion for the quarter, compared to analyst estimates of $1.74 billion. During the same period last year, the business earned $0.92 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. On average, analysts expect that J.B. Hunt Transport Services, Inc. will post $3.88 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 0.91%. The ex-dividend date was Thursday, August 3rd. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is 24.08%.

J.B. Hunt Transport Services Company Profile

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.

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

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