State of New Jersey Common Pension Fund D Sells 15,723 Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

State of New Jersey Common Pension Fund D lowered its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 35.1% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,063 shares of the transportation company’s stock after selling 15,723 shares during the period. State of New Jersey Common Pension Fund D’s holdings in J.B. Hunt Transport Services were worth $4,650,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Silvercrest Asset Management Group LLC increased its stake in shares of J.B. Hunt Transport Services by 24.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 29,302 shares of the transportation company’s stock valued at $5,838,000 after acquiring an additional 5,767 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of J.B. Hunt Transport Services by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 9,769,777 shares of the transportation company’s stock worth $1,946,628,000 after purchasing an additional 25,109 shares during the period. Empirical Capital Management LLC purchased a new position in J.B. Hunt Transport Services in the fourth quarter valued at approximately $8,089,000. Jennison Associates LLC grew its holdings in J.B. Hunt Transport Services by 11.2% during the first quarter. Jennison Associates LLC now owns 197,809 shares of the transportation company’s stock valued at $39,413,000 after purchasing an additional 19,987 shares during the period. Finally, Virtu Financial LLC purchased a new stake in J.B. Hunt Transport Services in the fourth quarter worth $1,795,000. Institutional investors own 74.95% of the company’s stock.

Insider Activity

In related news, EVP Darren P. Field sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $175.03, for a total transaction of $525,090.00. Following the sale, the executive vice president now directly owns 14,150 shares of the company’s stock, valued at approximately $2,476,674.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 3,000 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $175.03, for a total value of $525,090.00. Following the sale, the executive vice president now directly owns 14,150 shares of the company’s stock, valued at $2,476,674.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Persio V. Lisboa bought 600 shares of J.B. Hunt Transport Services stock in a transaction on Friday, July 19th. The shares were purchased at an average cost of $163.47 per share, with a total value of $98,082.00. Following the completion of the purchase, the director now directly owns 3,594 shares in the company, valued at $587,511.18. The disclosure for this purchase can be found here. Company insiders own 2.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on JBHT. Wells Fargo & Company assumed coverage on J.B. Hunt Transport Services in a report on Friday, June 7th. They set an “overweight” rating and a $185.00 price objective on the stock. Stifel Nicolaus lowered their target price on shares of J.B. Hunt Transport Services from $173.00 to $151.00 and set a “hold” rating on the stock in a research note on Tuesday, July 23rd. TD Cowen cut their price target on shares of J.B. Hunt Transport Services from $181.00 to $161.00 and set a “hold” rating for the company in a research note on Wednesday, July 17th. Susquehanna reduced their target price on J.B. Hunt Transport Services from $175.00 to $155.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 17th. Finally, BMO Capital Markets boosted their target price on J.B. Hunt Transport Services from $188.00 to $195.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $181.88.

J.B. Hunt Transport Services Stock Performance

J.B. Hunt Transport Services stock opened at $167.40 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.21. The company has a market capitalization of $17.28 billion, a price-to-earnings ratio of 26.57, a PEG ratio of 2.84 and a beta of 1.15. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $153.12 and a fifty-two week high of $219.51. The stock has a fifty day moving average of $168.40 and a two-hundred day moving average of $171.83.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its earnings results on Tuesday, July 16th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($0.19). J.B. Hunt Transport Services had a return on equity of 14.77% and a net margin of 4.90%. The company had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.02 billion. During the same period in the prior year, the business posted $1.81 earnings per share. J.B. Hunt Transport Services’s revenue was down 6.5% on a year-over-year basis. On average, analysts anticipate that J.B. Hunt Transport Services, Inc. will post 5.7 EPS for the current fiscal year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 2nd were issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Friday, August 2nd. J.B. Hunt Transport Services’s dividend payout ratio is currently 27.30%.

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.