Drive Wealth Management LLC Reduces Position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Drive Wealth Management LLC lowered its position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 4.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,652 shares of the transportation company’s stock after selling 85 shares during the period. Drive Wealth Management LLC’s holdings in J.B. Hunt Transport Services were worth $285,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in JBHT. Thrivent Financial for Lutherans lifted its stake in J.B. Hunt Transport Services by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 453,180 shares of the transportation company’s stock worth $78,096,000 after purchasing an additional 7,612 shares during the last quarter. Comgest Global Investors S.A.S. lifted its position in shares of J.B. Hunt Transport Services by 3.3% during the 3rd quarter. Comgest Global Investors S.A.S. now owns 216,448 shares of the transportation company’s stock worth $37,300,000 after buying an additional 6,817 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of J.B. Hunt Transport Services by 2,384.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 156,097 shares of the transportation company’s stock valued at $25,297,000 after buying an additional 149,815 shares in the last quarter. Empirical Finance LLC grew its position in shares of J.B. Hunt Transport Services by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 2,855 shares of the transportation company’s stock valued at $492,000 after buying an additional 56 shares during the last quarter. Finally, CIBC Asset Management Inc raised its stake in J.B. Hunt Transport Services by 6.9% during the 3rd quarter. CIBC Asset Management Inc now owns 12,400 shares of the transportation company’s stock worth $2,137,000 after acquiring an additional 795 shares in the last quarter. Hedge funds and other institutional investors own 74.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on JBHT. Bank of America upped their price objective on shares of J.B. Hunt Transport Services from $188.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Stifel Nicolaus raised their price target on J.B. Hunt Transport Services from $151.00 to $167.00 and gave the stock a “hold” rating in a research note on Wednesday, October 16th. Citigroup upped 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 research report on Tuesday, November 12th. The Goldman Sachs Group dropped their price objective on shares of J.B. Hunt Transport Services from $193.00 to $189.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $195.00 target price on shares of J.B. Hunt Transport Services in a research note on Wednesday, October 16th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $190.11.

J.B. Hunt Transport Services Stock Performance

JBHT opened at $184.00 on Tuesday. J.B. Hunt Transport Services, Inc. has a 1-year low of $153.12 and a 1-year high of $219.51. The stock has a market cap of $18.55 billion, a P/E ratio of 33.45, a P/E/G ratio of 2.90 and a beta of 1.14. The stock’s 50 day simple moving average is $175.84 and its 200 day simple moving average is $168.44. 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 posted its earnings results on Tuesday, October 15th. The transportation company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.42 by $0.07. J.B. Hunt Transport Services had a return on equity of 13.92% and a net margin of 4.65%. The company had revenue of $3.07 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the prior year, the company earned $1.80 earnings per share. As a group, equities analysts anticipate 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 announced a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. J.B. Hunt Transport Services’s payout ratio is currently 31.27%.

Insider Buying and Selling at J.B. Hunt Transport Services

In related news, EVP Darren P. Field sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $183.50, for a total value of $275,250.00. Following the sale, the executive vice president now owns 12,650 shares of the company’s stock, valued at approximately $2,321,275. This represents a 10.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin Bracy sold 1,614 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $189.87, for a total value of $306,450.18. Following the sale, the senior vice president now owns 8,235 shares in the company, valued at approximately $1,563,579.45. This trade represents a 16.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,314 shares of company stock valued at $1,534,052 over the last quarter. Corporate insiders own 2.10% of the company’s stock.

J.B. Hunt Transport Services Company Profile

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.