Sumitomo Mitsui Trust Holdings Inc. Trims Stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Sumitomo Mitsui Trust Holdings Inc. cut its holdings in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 2.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 203,755 shares of the transportation company’s stock after selling 4,755 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.20% of J.B. Hunt Transport Services worth $40,698,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Morgan Stanley boosted its stake in J.B. Hunt Transport Services by 269.1% during the fourth quarter. Morgan Stanley now owns 2,371,613 shares of the transportation company’s stock worth $413,514,000 after buying an additional 1,728,989 shares during the period. JPMorgan Chase & Co. boosted 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 worth $406,215,000 after purchasing an additional 1,397,651 shares during the period. Norges Bank acquired a new stake in J.B. Hunt Transport Services in the 4th quarter valued at approximately $144,189,000. BlackRock Inc. raised its position in J.B. Hunt Transport Services by 6.8% in the first quarter. BlackRock Inc. now owns 6,714,693 shares of the transportation company’s stock valued at $1,178,160,000 after purchasing an additional 429,256 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in J.B. Hunt Transport Services during the first quarter worth $63,103,000. 74.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Barclays cut their price objective on J.B. Hunt Transport Services from $200.00 to $170.00 and set an “equal weight” rating on the stock in a report on Wednesday. Susquehanna reduced their price target on shares of J.B. Hunt Transport Services from $195.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday. StockNews.com cut shares of J.B. Hunt Transport Services from a “hold” rating to a “sell” rating in a report on Friday, March 8th. Stephens cut their target price on shares of J.B. Hunt Transport Services from $210.00 to $192.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Stifel Nicolaus decreased their price target on shares of J.B. Hunt Transport Services from $188.00 to $173.00 and set a “hold” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $194.56.

J.B. Hunt Transport Services Stock Performance

Shares of J.B. Hunt Transport Services stock opened at $167.30 on Friday. The firm has a market capitalization of $17.28 billion, a P/E ratio of 26.56, a P/E/G ratio of 1.48 and a beta of 1.11. The company has a quick ratio of 1.15, a current ratio of 1.26 and a debt-to-equity ratio of 0.33. J.B. Hunt Transport Services, Inc. has a 52 week low of $160.07 and a 52 week high of $219.51. The firm’s 50 day moving average is $197.94 and its two-hundred day moving average is $192.83.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings results on Thursday, January 18th. The transportation company reported $1.47 EPS for the quarter, missing the consensus estimate of $1.74 by ($0.27). J.B. Hunt Transport Services had a return on equity of 16.25% and a net margin of 5.25%. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.29 billion. J.B. Hunt Transport Services’s revenue was down 9.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.92 earnings per share. Research analysts forecast that J.B. Hunt Transport Services, Inc. will post 7.57 EPS for the current fiscal year.

Insider Transactions at J.B. Hunt Transport Services

In other news, Director Patrick J. Ottensmeyer purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were purchased at an average price of $202.99 per share, for a total transaction of $1,014,950.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $1,014,950. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Kevin Bracy sold 754 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $211.79, for a total transaction of $159,689.66. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. Also, Director Patrick J. Ottensmeyer purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was bought at an average price of $202.99 per share, for a total transaction of $1,014,950.00. Following the transaction, the director now directly owns 5,000 shares in the company, valued at $1,014,950. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 20,432 shares of company stock worth $4,309,687. Corporate insiders own 2.10% of the company’s stock.

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.