Sumitomo Mitsui Trust Group Inc. Has $29.54 Million Stock Holdings in J.B. Hunt Transport Services, Inc. $JBHT

Sumitomo Mitsui Trust Group Inc. increased its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 7.2% during the second quarter, Holdings Channel reports. The institutional investor owned 205,707 shares of the transportation company’s stock after purchasing an additional 13,834 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in J.B. Hunt Transport Services were worth $29,540,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Summit Securities Group LLC grew its holdings in 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 buying an additional 196 shares in the last quarter. Private Trust Co. NA grew its holdings in J.B. Hunt Transport Services by 57.8% during the second quarter. Private Trust Co. NA now owns 202 shares of the transportation company’s stock worth $29,000 after buying an additional 74 shares in the last quarter. Allworth Financial LP grew 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 buying an additional 147 shares in the last quarter. National Pension Service grew its holdings in J.B. Hunt Transport Services by 74.9% during the first quarter. National Pension Service now owns 306 shares of the transportation company’s stock worth $45,000 after buying an additional 131 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in J.B. Hunt Transport Services by 38.6% during the second quarter. Farther Finance Advisors LLC now owns 316 shares of the transportation company’s stock worth $45,000 after buying an additional 88 shares in the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.

J.B. Hunt Transport Services Trading Down 0.7%

NASDAQ JBHT opened at $166.56 on Wednesday. The stock’s 50-day simple moving average is $144.44 and its two-hundred day simple moving average is $142.67. J.B. Hunt Transport Services, Inc. has a twelve month low of $122.79 and a twelve month high of $200.40. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $15.86 billion, a price-to-earnings ratio of 28.87, a PEG ratio of 2.31 and a beta of 1.24.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its quarterly earnings results on Wednesday, October 15th. The transportation company reported $1.76 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.30. J.B. Hunt Transport Services had a return on equity of 15.16% and a net margin of 4.75%.The business had revenue of $3.05 billion for the quarter, compared to the consensus estimate of $3.02 billion. During the same quarter last year, the business posted $1.49 earnings per share. The company’s revenue for the quarter was down .5% on a year-over-year basis. Research analysts forecast that J.B. Hunt Transport Services, Inc. will post 6.37 EPS for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Investors of record on Friday, November 7th will be paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.76 annualized dividend and a dividend yield of 1.1%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is presently 30.50%.

J.B. Hunt Transport Services announced that its board has authorized a stock buyback plan on Wednesday, October 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the transportation company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Barclays upped their target price on J.B. Hunt Transport Services from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Thursday, October 16th. Stephens reaffirmed an “overweight” rating and issued a $180.00 target price on shares of J.B. Hunt Transport Services in a report on Thursday, October 16th. Benchmark upped their target price on J.B. Hunt Transport Services from $165.00 to $175.00 and gave the company a “buy” rating in a report on Friday, October 17th. Sanford C. Bernstein set a $172.00 target price on J.B. Hunt Transport Services in a report on Thursday, October 16th. Finally, TD Cowen upped their target price on 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. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.30.

Insider Activity

In other J.B. Hunt Transport Services news, EVP Eric Mcgee bought 1,148 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were bought at an average cost of $140.76 per share, with a total value of $161,592.48. Following the completion of the purchase, the executive vice president directly owned 7,397 shares of the company’s stock, valued at $1,041,201.72. This trade represents a 18.37% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.30% of the stock is owned by insiders.

J.B. Hunt Transport Services 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.