J.B. Hunt Transport Services, Inc. $JBHT Stock: Sumitomo Mitsui Trust Group Inc. Grows Holdings

Sumitomo Mitsui Trust Group Inc. boosted its holdings in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 1.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,311 shares of the transportation company’s stock after buying an additional 3,198 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.18% of J.B. Hunt Transport Services worth $38,830,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Reyes Financial Architecture Inc. bought a new position in shares of J.B. Hunt Transport Services during the 3rd quarter valued at $26,000. Elevation Wealth Partners LLC increased its position in J.B. Hunt Transport Services by 500.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 150 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 125 shares during the period. Basecamp Wealth Advisors LLC grew its position in J.B. Hunt Transport Services by 250.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 217 shares of the transportation company’s stock worth $46,000 after purchasing an additional 155 shares during the last quarter. Parkside Financial Bank & Trust grew its stake in shares of J.B. Hunt Transport Services by 17.9% during the 2nd quarter. Parkside Financial Bank & Trust now owns 250 shares of the transportation company’s stock worth $72,000 after purchasing an additional 38 shares during the period. Finally, Sawyer & Company Inc acquired a new position in J.B. Hunt Transport Services in the 3rd quarter valued at $67,000. 74.95% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on JBHT. Susquehanna lowered their price target on shares of J.B. Hunt Transport Services from $345.00 to $305.00 and set a “positive” rating for the company in a report on Friday, October 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $252.00 target price on shares of J.B. Hunt Transport Services in a research note on Monday, October 19th. Truist Financial cut their target price on shares of J.B. Hunt Transport Services from $295.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, October 7th. William Blair set a $300.00 target price on J.B. Hunt Transport Services in a research report on Friday, October 16th. Finally, BMO Capital Markets set a $315.00 target price on J.B. Hunt Transport Services in a report on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $273.76.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ:JBHT opened at $227.06 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.23 and a quick ratio of 1.23. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of 31.89, a P/E/G ratio of 1.87 and a beta of 1.26. J.B. Hunt Transport Services, Inc. has a fifty-two week low of $157.82 and a fifty-two week high of $299.76. The firm’s 50 day simple moving average is $239.47 and its 200 day simple moving average is $246.05.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its earnings results on Thursday, October 15th. The transportation company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.01. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.59 billion. J.B. Hunt Transport Services had a net margin of 5.07% and a return on equity of 18.72%. J.B. Hunt Transport Services’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.76 EPS. As a group, sell-side analysts forecast that J.B. Hunt Transport Services, Inc. will post 7.25 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 6th. J.B. Hunt Transport Services’s dividend payout ratio is currently 25.28%.

J.B. Hunt Transport Services Profile

J.B. Hunt Transport Services, Inc is a transportation and logistics company headquartered in Lowell, Arkansas. Founded in 1961 by Johnnie Bryan Hunt and his wife, Nellie, the company has grown into a major provider of freight transportation services across North America.

The company’s principal operations include intermodal transportation, which combines rail and truck services; dedicated contract services, which provide customized transportation capacity and fleet management for individual customers; and integrated logistics solutions, including freight brokerage and third-party logistics.