CIBC Asset Management Inc raised its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 2.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,999 shares of the transportation company’s stock after buying an additional 370 shares during the period. CIBC Asset Management Inc’s holdings in J.B. Hunt Transport Services were worth $1,462,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of JBHT. BlackRock Inc. increased its position in J.B. Hunt Transport Services by 2,611.8% in the first quarter. BlackRock Inc. now owns 6,252,515 shares of the transportation company’s stock valued at $573,604,000 after buying an additional 6,021,944 shares during the last quarter. Renaissance Technologies LLC increased its position in J.B. Hunt Transport Services by 423.1% in the first quarter. Renaissance Technologies LLC now owns 625,344 shares of the transportation company’s stock valued at $57,369,000 after buying an additional 505,800 shares during the last quarter. Morgan Stanley increased its position in J.B. Hunt Transport Services by 228.3% in the first quarter. Morgan Stanley now owns 618,315 shares of the transportation company’s stock valued at $56,724,000 after buying an additional 430,000 shares during the last quarter. First Trust Advisors LP increased its position in J.B. Hunt Transport Services by 609.9% in the first quarter. First Trust Advisors LP now owns 483,978 shares of the transportation company’s stock valued at $44,400,000 after buying an additional 415,801 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in J.B. Hunt Transport Services by 4.1% in the first quarter. Vanguard Group Inc. now owns 9,393,838 shares of the transportation company’s stock valued at $861,790,000 after buying an additional 370,811 shares during the last quarter. 73.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) opened at 92.10 on Friday. J.B. Hunt Transport Services, Inc. has a 1-year low of $76.20 and a 1-year high of $102.38. The company has a market cap of $10.08 billion, a PE ratio of 24.16 and a beta of 0.94. The company has a 50 day moving average of $91.12 and a 200 day moving average of $91.98.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings results on Monday, July 17th. The transportation company reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $0.92 by $0.04. J.B. Hunt Transport Services had a net margin of 6.32% and a return on equity of 30.00%. The company had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same quarter last year, the company posted $0.92 EPS. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. Equities analysts expect that J.B. Hunt Transport Services, Inc. will post $3.88 earnings per share for the current fiscal year.

J.B. Hunt Transport Services declared that its Board of Directors has approved a share buyback plan on Thursday, April 20th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the transportation company to reacquire up to 51% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Investors of record on Monday, August 7th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 1.00%. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is currently 24.08%.

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JBHT has been the subject of a number of recent analyst reports. Deutsche Bank AG upped their price target on shares of J.B. Hunt Transport Services from $90.00 to $110.00 and gave the company a “hold” rating in a report on Wednesday, April 19th. Zacks Investment Research cut shares of J.B. Hunt Transport Services from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. Stifel Nicolaus decreased their price target on shares of J.B. Hunt Transport Services from $97.00 to $88.00 and set a “hold” rating for the company in a report on Wednesday, April 19th. BidaskClub upgraded shares of J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Vertical Research initiated coverage on shares of J.B. Hunt Transport Services in a report on Thursday, April 13th. They set a “hold” rating and a $92.00 price target for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. J.B. Hunt Transport Services currently has a consensus rating of “Hold” and an average target price of $98.73.

In related news, SVP John Kuhlow sold 810 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $93.71, for a total value of $75,905.10. Following the transaction, the senior vice president now owns 3,999 shares in the company, valued at approximately $374,746.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Chairman James K. Thompson sold 8,503 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $91.76, for a total transaction of $780,235.28. Following the completion of the transaction, the chairman now owns 51,846 shares in the company, valued at approximately $4,757,388.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,448 shares of company stock worth $2,979,740. 4.30% of the stock is owned by company insiders.

J.B. Hunt Transport Services Company Profile

J.B. Hunt Transport Services, Inc is a surface transportation, delivery, and logistics company in North America. The Company segments include Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS) and Truck (JBT). The Company, through its subsidiaries, provides transportation and delivery services to a range of customers and consumers throughout the continental United States, Canada and Mexico.

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Institutional Ownership by Quarter for J.B. Hunt Transport Services (NASDAQ:JBHT)

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