Kentucky Retirement Systems Cuts Stock Holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Kentucky Retirement Systems cut its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 8.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,613 shares of the transportation company’s stock after selling 530 shares during the period. Kentucky Retirement Systems’ holdings in J.B. Hunt Transport Services were worth $967,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new position in shares of J.B. Hunt Transport Services during the 1st quarter worth approximately $208,000. Seven Eight Capital LP purchased a new position in shares of J.B. Hunt Transport Services during the 1st quarter worth approximately $562,000. UniSuper Management Pty Ltd increased its stake in shares of J.B. Hunt Transport Services by 485.3% during the 1st quarter. UniSuper Management Pty Ltd now owns 5,595 shares of the transportation company’s stock worth $1,115,000 after purchasing an additional 4,639 shares in the last quarter. Bessemer Group Inc. increased its stake in shares of J.B. Hunt Transport Services by 4.4% during the 1st quarter. Bessemer Group Inc. now owns 2,772 shares of the transportation company’s stock worth $553,000 after purchasing an additional 118 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in shares of J.B. Hunt Transport Services by 1.1% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 62,347 shares of the transportation company’s stock worth $12,425,000 after purchasing an additional 701 shares in the last quarter. 74.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on JBHT shares. Bank of America raised their target price on shares of J.B. Hunt Transport Services from $188.00 to $196.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Evercore ISI raised their target price on shares of J.B. Hunt Transport Services from $183.00 to $185.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. TD Cowen lifted their price target on shares of J.B. Hunt Transport Services from $160.00 to $182.00 and gave the company a “hold” rating in a report on Wednesday, October 16th. BMO Capital Markets reiterated an “outperform” rating and issued a $195.00 price target on shares of J.B. Hunt Transport Services in a report on Wednesday, October 16th. Finally, Citigroup lifted their price target on shares of J.B. Hunt Transport Services from $204.00 to $227.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $190.11.

Insider Activity

In other J.B. Hunt Transport Services news, EVP Darren P. Field sold 3,000 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $175.03, for a total transaction of $525,090.00. Following the completion of the transaction, the executive vice president now directly owns 14,150 shares of the company’s stock, valued at $2,476,674.50. The trade was a 17.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin Bracy sold 1,614 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $189.87, for a total transaction of $306,450.18. Following the transaction, the senior vice president now directly owns 8,235 shares of the company’s stock, valued at $1,563,579.45. The trade was a 16.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 8,314 shares of company stock valued at $1,534,052. Company insiders own 2.10% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

J.B. Hunt Transport Services stock opened at $180.18 on Wednesday. The firm’s fifty day moving average price is $176.04 and its 200 day moving average price is $168.55. The company has a market capitalization of $18.17 billion, a price-to-earnings ratio of 32.76, a price-to-earnings-growth ratio of 2.90 and a beta of 1.14. J.B. Hunt Transport Services, Inc. has a 12-month low of $153.12 and a 12-month high of $219.51. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.94 and a quick ratio of 0.94.

J.B. Hunt Transport Services (NASDAQ:JBHT) last released its earnings results on Tuesday, October 15th. The transportation company reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.07. The company had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $3.04 billion. J.B. Hunt Transport Services had a net margin of 4.65% and a return on equity of 13.92%. During the same quarter in the previous year, the firm earned $1.80 EPS. On average, research analysts forecast 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 will be paid on Friday, November 22nd. Stockholders of record on Friday, November 8th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, November 8th. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is presently 31.27%.

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.