In the first quarter of this year, investment management firm Duality Advisers LP significantly increased its holdings in J.B. Hunt Transport Services, Inc. According to its most recent disclosure with the Securities and Exchange Commission (SEC), Duality Advisers LP raised its holdings in the transportation company by an astounding 1,045.6%. The firm now owns 23,245 shares of J.B. Hunt’s stock, acquiring an additional 21,216 shares during the quarter. These holdings are valued at $4,079,000 as of Duality Advisers LP’s most recent filing with the SEC.
J.B. Hunt Transport Services (NASDAQ:JBHT) recently released its quarterly earnings results on September 14, 2023. The company reported earnings per share (EPS) of $1.81 for the quarter, which fell short of analysts’ consensus estimates by $0.09. Despite missing expectations, J.B. Hunt Transport Services still maintained a return on equity of 23.06% and a net margin of 6.19%. However, revenue for the quarter was recorded at $3.13 billion compared to analyst estimates of $3.29 billion – a decline of 18.4% from the same period last year when they had posted earnings per share of $2.42.
Equities research analysts have weighed in on JBHT shares following their earnings release. StockNews.com initiated their coverage on J.B Hunt Transport Services with a “hold” rating for the company on August 17th this year. Furthermore, 51job reaffirmed a “reiterates” rating for J.B Hunt Transport Services’ shares on June 27th this year.The rating agency affirmed Susquehanna dropped their price target from $195 to $193 after examining the company’s performance more closely during July this year.
However Loop Capital was able to raise their price target from $190 to $200 and retained their “hold” rating for J.B Hunt Transport Services’ shares. Another research report by BMO Capital Markets increased the price target from $170 to $190.
Analysts have given varying ratings to J.B. Hunt Transport Services, with one analyst rating the stock as a sell, seven analysts giving it a hold rating, and nine assigning a buy rating. According to Bloomberg, the consensus rating for the stock is currently “Hold,” with an average price target set at $195.30.
It will be interesting to see how Duality Advisers LP’s significant increase in holdings impacts J.B. Hunt Transport Services moving forward. Moreover, investors will monitor the company’s financial performance closely as they anticipate the release of its full-year earnings statement, which is projected to demonstrate an EPS of 7.72 for the current year.
J.B. Hunt Transport Services, Inc.
Updated on: 15/09/2023
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|Analyst / firm||Rating|
Allison Poliniak Cusic
Cowen & Co.
Patrick Tyler Brown
J.B. Hunt Transport Services Attracts Attention from Institutional Investors and Analysts
On September 14, 2023, the stock of J.B. Hunt Transport Services (NASDAQ:JBHT) opened at $189.35. This transportation company has been attracting the attention of several hedge funds and institutional investors lately. Vanguard Group Inc., for instance, recently increased its holdings in J.B. Hunt by 0.7% during the first quarter, acquiring an additional 64,061 shares worth approximately $1,944,626,000. BlackRock Inc. followed suit by lifting its holdings by 6.8%, purchasing an additional 429,256 shares valued at $1,178,160,000 during the same period.
Another notable institutional investor is Morgan Stanley which experienced a staggering increase of 269.1% in its holdings during the fourth quarter and now owns approximately 2,371,613 shares worth around $413,514,000.
Geode Capital Management LLC also added to its J.B. Hunt stock during the first quarter with a modest increase of 2.2%, acquiring an additional 38,884 shares equaling roughly $317,163,000 in value.
Finally, Victory Capital Management Inc decided to lift its holdings by a significant margin of 16.3% during the first quarter as well and now possesses roughly 1,5818,,785 shares worth approximately $277540000.
All these institutional investors combined own a massive part of J.B.Hunt Transport Services’ stock- 73.09% to be precise.
Despite seemingly strong financial backing from these institutions and hedge funds, the stock’s performance over time has demonstrated both highs and lows.
The annual highest point for JBHT was recorded at $20921 while it experienced a low of just $15628 over the twelve-month period leading up to September.
The company has a market capitalization (market cap) totalling up to roughly $19.57 billion.
Although these figures are quite impressive, it must be noted that the company’s key financial ratios should also be considered. For instance, J.B. Hunt Transport Services has a current ratio of 1.21 and a quick ratio also of 1.21.
Moreover, the company’s debt-to-equity ratio is reported to be at 0.31, showcasing a relatively low level of debt in comparison to equity.
Looking further into the stock’s history, various equity research analysts have commented on JBHT shares and offered diverse perspectives.
StockNews.com recently initiated coverage on J.B. Hunt Transport Services with a “hold” rating while another firm called 51job reiterated this same opinion.
On the other hand, Susquehanna lowered their price target on JBHT to $193 whereas firms such as Loop Capital raised their price target from $190 to $200 giving the stocks a “hold” rating for both firms.
Lastly, BMO Capital Markets seems to be bullish about JBHT since the firm has increased its price target from $170 to $190.
The past quarter also saw J.B. Hunt Transport Services paying out its quarterly dividend which amounted to $0.42 per share. This translates to an annualized dividend of $1.68, yielding approximately 0.89%.
Analysts have noted that JBHT continues to maintain a sustainable payout ratio at present with approximately 20.51% returned back to stockholders.
In recent news regarding stock transactions within the company itself, EVP Stuart Lockard Scott sold 1,609 shares of J.B.Hunt Transport Services stock during July at an average price point of $19828.
This particular transaction earned him roughly around over three-hundred thousand dollars ($31903252)
Being an insider himself;Lockard Scott presently owns almost thirty thousand shares (29126) valued at more than five million dollars ($5775103). Another transaction involved EVP Eric Mcgee selling 310 shares of the business’s stocks at $202.52 per share which earned him a little over sixty thousand dollars ($62781.20).
The mere fact that insiders have sold more than eleven thousand shares (11502)—amounting to two million dollars($2284358)–over three months is worth raising eyebrows.
Overall it seems safe to say that J.B. Hunt Transport Services has attracted significant attention both from institutional investors and analysts alike.
This kind of recognition often portends well for a company as these parties tend to have substantial resources and intelligence behind their investment decisions.
Investors eager for further insights can reference data from the Securities & Exchange Commission through its accessible website where detailed information about recent stock transactions can be found.