16,911 Shares in J.B. Hunt Transport Services, Inc. $JBHT Bought by Cornerstone Advisors LLC

Cornerstone Advisors LLC purchased a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) in the 2nd quarter, Holdings Channel reports. The institutional investor purchased 16,911 shares of the transportation company’s stock, valued at approximately $4,895,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Sivia Capital Partners LLC acquired a new position in shares of J.B. Hunt Transport Services in the 2nd quarter worth approximately $539,000. HighTower Advisors LLC raised its position in shares of J.B. Hunt Transport Services by 71.7% during the 4th quarter. HighTower Advisors LLC now owns 9,684 shares of the transportation company’s stock valued at $1,882,000 after acquiring an additional 4,043 shares in the last quarter. Merit Financial Group LLC raised its position in shares of J.B. Hunt Transport Services by 48.6% during the 4th quarter. Merit Financial Group LLC now owns 13,849 shares of the transportation company’s stock valued at $2,692,000 after acquiring an additional 4,527 shares in the last quarter. Bank of America Corp DE lifted its stake in J.B. Hunt Transport Services by 2.4% during the first quarter. Bank of America Corp DE now owns 454,610 shares of the transportation company’s stock worth $96,332,000 after purchasing an additional 10,664 shares during the last quarter. Finally, Greenwood Gearhart Inc. lifted its stake in J.B. Hunt Transport Services by 4.3% during the fourth quarter. Greenwood Gearhart Inc. now owns 201,839 shares of the transportation company’s stock worth $39,225,000 after purchasing an additional 8,270 shares during the last quarter. 74.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on JBHT. Citigroup reaffirmed a “market perform” rating on shares of J.B. Hunt Transport Services in a research report on Monday, July 20th. Zacks Research raised shares of J.B. Hunt Transport Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 16th. Truist Financial lifted their target price on J.B. Hunt Transport Services from $280.00 to $295.00 and gave the company a “hold” rating in a research note on Thursday, July 16th. The Goldman Sachs Group set a $261.00 target price on J.B. Hunt Transport Services in a report on Thursday, July 16th. Finally, Weiss Ratings upgraded J.B. Hunt Transport Services from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, J.B. Hunt Transport Services currently has an average rating of “Moderate Buy” and a consensus target price of $286.30.

Insider Buying and Selling

In other news, EVP David Keefauver sold 703 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $285.13, for a total value of $200,446.39. Following the completion of the sale, the executive vice president directly owned 790 shares of the company’s stock, valued at $225,252.70. This represents a 47.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Brian Webb sold 1,500 shares of the stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $284.01, for a total transaction of $426,015.00. Following the completion of the sale, the executive vice president owned 15,881 shares of the company’s stock, valued at approximately $4,510,362.81. The trade was a 8.63% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 2.50% of the company’s stock.

J.B. Hunt Transport Services Stock Up 1.3%

J.B. Hunt Transport Services stock opened at $283.37 on Tuesday. J.B. Hunt Transport Services, Inc. has a 52 week low of $130.12 and a 52 week high of $299.76. The stock has a market cap of $26.61 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 1.76 and a beta of 1.30. The company’s 50-day moving average price is $279.58 and its two-hundred day moving average price is $249.49. The company has a current ratio of 1.26, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its earnings results on Wednesday, July 15th. The transportation company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.71 by $0.20. J.B. Hunt Transport Services had a return on equity of 18.75% and a net margin of 5.31%.The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.26 billion. During the same quarter last year, the business posted $1.31 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. On average, analysts expect that J.B. Hunt Transport Services, Inc. will post 7.75 EPS for the current fiscal year.

J.B. Hunt Transport Services Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 21st. Investors of record on Friday, August 7th will be given a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, August 7th. J.B. Hunt Transport Services’s dividend payout ratio is 25.50%.

J.B. Hunt Transport Services Company Profile

J.B. Hunt Transport Services, Inc is a leading provider of transportation and logistics solutions headquartered in Lowell, Arkansas. The company offers a comprehensive suite of services designed to move freight efficiently across North America, including intermodal, dedicated contract services, full truckload, less-than-truckload (LTL), final mile delivery and specialized transport.

In its intermodal segment, J.B. Hunt leverages a network of rail and truck assets to transport containers and trailers on major U.S.