Allspring Global Investments Holdings LLC Reduces Stock Position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Allspring Global Investments Holdings LLC trimmed its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 98.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,132 shares of the transportation company’s stock after selling 233,898 shares during the period. Allspring Global Investments Holdings LLC’s holdings in J.B. Hunt Transport Services were worth $661,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Czech National Bank raised its position in shares of J.B. Hunt Transport Services by 0.5% in the first quarter. Czech National Bank now owns 14,347 shares of the transportation company’s stock valued at $2,859,000 after buying an additional 75 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its stake in J.B. Hunt Transport Services by 3.7% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,310 shares of the transportation company’s stock worth $460,000 after acquiring an additional 83 shares during the period. Kentucky Retirement Systems raised its holdings in J.B. Hunt Transport Services by 1.5% in the 4th quarter. Kentucky Retirement Systems now owns 6,520 shares of the transportation company’s stock valued at $1,302,000 after acquiring an additional 95 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of J.B. Hunt Transport Services by 19.3% during the 2nd quarter. GAMMA Investing LLC now owns 593 shares of the transportation company’s stock worth $95,000 after purchasing an additional 96 shares during the period. Finally, Blair William & Co. IL boosted its holdings in shares of J.B. Hunt Transport Services by 0.3% during the first quarter. Blair William & Co. IL now owns 36,113 shares of the transportation company’s stock worth $7,196,000 after purchasing an additional 97 shares during the last quarter. 74.95% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at J.B. Hunt Transport Services

In related news, Director Persio V. Lisboa purchased 600 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was acquired at an average price of $163.47 per share, for a total transaction of $98,082.00. Following the completion of the purchase, the director now owns 3,594 shares in the company, valued at $587,511.18. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Darren P. Field sold 3,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $175.03, for a total value of $525,090.00. Following the completion of 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 SEC, which can be accessed through this link. Also, Director Persio V. Lisboa acquired 600 shares of the business’s stock in a transaction on Friday, July 19th. The shares were purchased at an average price of $163.47 per share, for a total transaction of $98,082.00. Following the purchase, the director now directly owns 3,594 shares of the company’s stock, valued at $587,511.18. The disclosure for this purchase can be found here. 2.10% of the stock is owned by insiders.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ:JBHT opened at $169.30 on Friday. The company has a market cap of $17.47 billion, a P/E ratio of 26.87, a PEG ratio of 2.91 and a beta of 1.14. J.B. Hunt Transport Services, Inc. has a one year low of $153.12 and a one year high of $219.51. The business’s 50-day simple moving average is $166.95 and its 200 day simple moving average is $174.18. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.21 and a current ratio of 1.21.

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

J.B. Hunt Transport Services Announces Dividend

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 1.02%. The ex-dividend date was Friday, August 2nd. J.B. Hunt Transport Services’s dividend payout ratio is currently 27.30%.

Analyst Upgrades and Downgrades

JBHT has been the topic of several recent analyst reports. Wells Fargo & Company began coverage on J.B. Hunt Transport Services in a research report on Friday, June 7th. They set an “overweight” rating and a $185.00 target price on the stock. Benchmark decreased their target price on shares of J.B. Hunt Transport Services from $200.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, July 10th. Evercore ISI dropped their price target on shares of J.B. Hunt Transport Services from $191.00 to $185.00 and set an “outperform” rating for the company in a research report on Wednesday, July 17th. Stifel Nicolaus decreased their price target on shares of J.B. Hunt Transport Services from $173.00 to $151.00 and set a “hold” rating on the stock in a report on Tuesday, July 23rd. Finally, Barclays dropped their price objective on J.B. Hunt Transport Services from $170.00 to $160.00 and set an “equal weight” rating for the company in a report on Wednesday, July 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.88.

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.