Garrison Financial Corp maintained its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) during the second quarter, Holdings Channel reports. The firm owned 19,071 shares of the transportation company’s stock at the end of the second quarter. Garrison Financial Corp’s holdings in J.B. Hunt Transport Services were worth $1,743,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of JBHT. Bronfman E.L. Rothschild L.P. raised its stake in J.B. Hunt Transport Services by 3.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,296 shares of the transportation company’s stock worth $119,000 after buying an additional 43 shares during the period. Farmers & Merchants Investments Inc. raised its stake in J.B. Hunt Transport Services by 1.4% in the second quarter. Farmers & Merchants Investments Inc. now owns 1,420 shares of the transportation company’s stock worth $130,000 after buying an additional 20 shares during the period. Van ECK Associates Corp raised its stake in J.B. Hunt Transport Services by 6.9% in the first quarter. Van ECK Associates Corp now owns 1,468 shares of the transportation company’s stock worth $135,000 after buying an additional 95 shares during the period. Meeder Asset Management Inc. acquired a new stake in J.B. Hunt Transport Services during the second quarter worth about $173,000. Finally, Global X Management Co. LLC raised its stake in J.B. Hunt Transport Services by 28.9% in the first quarter. Global X Management Co. LLC now owns 1,952 shares of the transportation company’s stock worth $179,000 after buying an additional 438 shares during the period. 73.09% of the stock is currently owned by institutional investors and hedge funds.

J.B. Hunt Transport Services, Inc. (JBHT) opened at 94.70 on Friday. J.B. Hunt Transport Services, Inc. has a 52-week low of $76.20 and a 52-week high of $102.38. The company’s 50 day moving average price is $91.36 and its 200 day moving average price is $91.98. The company has a market cap of $10.36 billion, a P/E ratio of 24.84 and a beta of 0.94.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its earnings results on Monday, July 17th. The transportation company reported $0.88 EPS for the quarter, missing the 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 firm had revenue of $1.73 billion during the quarter, compared to analyst estimates of $1.74 billion. During the same period in the previous year, the company posted $0.92 EPS. J.B. Hunt Transport Services’s revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that J.B. Hunt Transport Services, Inc. will post $3.88 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Thursday, August 3rd. J.B. Hunt Transport Services’s payout ratio is 24.08%.

J.B. Hunt Transport Services announced that its Board of Directors has initiated a share buyback program on Thursday, April 20th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 51% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

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JBHT has been the topic of a number of research analyst reports. Bank of America Corporation reaffirmed a “buy” rating and issued a $109.00 target price (up previously from $98.00) on shares of J.B. Hunt Transport Services in a report on Monday, July 10th. Loop Capital reaffirmed a “buy” rating and issued a $103.00 target price (down previously from $105.00) on shares of J.B. Hunt Transport Services in a report on Saturday, July 22nd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $84.00 target price (down previously from $85.00) on shares of J.B. Hunt Transport Services in a report on Tuesday, July 18th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $88.00 target price on shares of J.B. Hunt Transport Services in a report on Friday, June 23rd. Finally, Zacks Investment Research raised J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a report on Tuesday, June 6th. 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 has a consensus rating of “Hold” and a consensus target price of $98.73.

In other news, SVP John Kuhlow sold 810 shares of the company’s stock in a transaction that occurred on Tuesday, July 25th. The stock was 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 of the company’s stock, valued at $374,746.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman James K. Thompson sold 8,503 shares of the stock in a transaction that occurred on Wednesday, July 19th. The stock was sold at an average price of $91.76, for a total value of $780,235.28. Following the sale, the chairman now directly owns 51,846 shares in the company, valued at approximately $4,757,388.96. The disclosure for this sale can be found here. Insiders sold 32,448 shares of company stock worth $2,979,740 in the last ninety days. 4.30% of the stock is owned by company insiders.

About J.B. Hunt Transport Services

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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