State of New Jersey Common Pension Fund D Sells 188 Shares of J.B. Hunt Transport Services, Inc. $JBHT

State of New Jersey Common Pension Fund D decreased its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 0.7% during the 2nd quarter, Holdings Channel reports. The fund owned 26,728 shares of the transportation company’s stock after selling 188 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in J.B. Hunt Transport Services were worth $3,838,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of JBHT. Summit Securities Group LLC boosted its position in shares of J.B. Hunt Transport Services by 19,600.0% during the first quarter. Summit Securities Group LLC now owns 197 shares of the transportation company’s stock worth $29,000 after purchasing an additional 196 shares in the last quarter. Private Trust Co. NA raised its stake in J.B. Hunt Transport Services by 57.8% during the 2nd quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock worth $29,000 after buying an additional 74 shares during the period. Allworth Financial LP lifted its holdings in J.B. Hunt Transport Services by 167.0% during the first quarter. Allworth Financial LP now owns 235 shares of the transportation company’s stock worth $35,000 after acquiring an additional 147 shares in the last quarter. National Pension Service grew its stake in J.B. Hunt Transport Services by 74.9% in the first quarter. National Pension Service now owns 306 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 131 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in J.B. Hunt Transport Services by 38.6% in the second quarter. Farther Finance Advisors LLC now owns 316 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 88 shares during the period. Institutional investors own 74.95% of the company’s stock.

Insider Transactions at J.B. Hunt Transport Services

In other news, EVP Eric Mcgee bought 1,148 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was acquired at an average cost of $140.76 per share, for a total transaction of $161,592.48. Following the purchase, the executive vice president owned 7,397 shares of the company’s stock, valued at approximately $1,041,201.72. This trade represents a 18.37% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on JBHT. Robert W. Baird lifted their price objective on J.B. Hunt Transport Services from $164.00 to $173.00 and gave the company an “outperform” rating in a report on Friday, October 17th. TD Cowen upped their price target on shares of J.B. Hunt Transport Services from $140.00 to $152.00 and gave the company a “hold” rating in a report on Thursday, October 16th. Citigroup lowered their price objective on shares of J.B. Hunt Transport Services from $170.00 to $163.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Bank of America boosted their price objective on shares of J.B. Hunt Transport Services from $153.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, October 16th. Finally, Truist Financial upped 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 note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, J.B. Hunt Transport Services currently has an average rating of “Moderate Buy” and a consensus target price of $166.30.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ JBHT opened at $167.77 on Tuesday. The stock has a market capitalization of $16.24 billion, a PE ratio of 29.08, a price-to-earnings-growth ratio of 2.28 and a beta of 1.24. J.B. Hunt Transport Services, Inc. has a 52 week low of $122.79 and a 52 week high of $200.40. The stock has a 50 day moving average price of $144.06 and a 200 day moving average price of $142.45. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.87 and a current ratio of 0.87.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings data on Wednesday, October 15th. The transportation company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.46 by $0.30. The company had revenue of $3.05 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.49 EPS. Analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services announced that its board has initiated a stock repurchase plan on Wednesday, October 22nd that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the transportation company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

J.B. Hunt Transport Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Stockholders of record on Friday, November 7th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Friday, November 7th. J.B. Hunt Transport Services’s dividend payout ratio is presently 30.50%.

J.B. Hunt Transport Services Company Profile

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.