TD Asset Management Inc. reduced its stake in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 28.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,836 shares of the transportation company’s stock after selling 40,238 shares during the period. TD Asset Management Inc.’s holdings in J.B. Hunt Transport Services were worth $9,306,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the stock. Bronfman E.L. Rothschild L.P. raised its position 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 valued at $119,000 after buying an additional 43 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position 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 valued at $130,000 after buying an additional 20 shares in the last quarter. Van ECK Associates Corp raised its position 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 valued at $135,000 after buying an additional 95 shares in the last quarter. Meeder Asset Management Inc. bought a new position in J.B. Hunt Transport Services during the second quarter valued at about $173,000. Finally, Global X Management Co. LLC raised its position 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 valued at $179,000 after buying an additional 438 shares in the last quarter. 73.14% of the stock is owned by institutional investors.

J.B. Hunt Transport Services, Inc. (JBHT) opened at 97.38 on Wednesday. J.B. Hunt Transport Services, Inc. has a 12-month low of $76.20 and a 12-month high of $102.38. The firm’s 50-day moving average price is $91.91 and its 200 day moving average price is $91.87. The company has a market capitalization of $10.66 billion, a price-to-earnings ratio of 25.55 and a beta of 0.94.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a dividend of $0.23 per share. The ex-dividend date is Thursday, August 3rd. This represents a $0.92 dividend on an annualized basis and a yield of 0.94%. J.B. Hunt Transport Services’s payout ratio is currently 24.08%.

J.B. Hunt Transport Services declared that its board 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 often a sign that the company’s board of directors believes its shares are undervalued.

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Several research firms have recently issued reports on JBHT. Bank of America Corporation restated a “buy” rating and issued a $109.00 price target (up from $98.00) on shares of J.B. Hunt Transport Services in a research report on Monday, July 10th. Deutsche Bank AG raised their price target on J.B. Hunt Transport Services from $90.00 to $110.00 and gave the stock a “hold” rating in a research report on Wednesday, April 19th. BidaskClub lowered J.B. Hunt Transport Services from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research upgraded J.B. Hunt Transport Services from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $105.00 price target (up from $100.00) on shares of J.B. Hunt Transport Services in a research report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $98.73.

In other news, EVP Bradley W. Hicks sold 1,000 shares of the stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $94.73, for a total transaction of $94,730.00. Following the transaction, the executive vice president now owns 18,690 shares of the company’s stock, valued at approximately $1,770,503.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John Kuhlow sold 810 shares of the stock in a transaction dated Tuesday, July 25th. The stock was sold at an average price of $93.71, for a total transaction of $75,905.10. Following the transaction, the senior vice president now directly owns 3,999 shares in the company, valued at approximately $374,746.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,448 shares of company stock valued at $3,074,470. Company insiders own 4.30% of the company’s stock.

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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