KLP Kapitalforvaltning AS Acquires New Position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

KLP Kapitalforvaltning AS bought a new position in shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 27,995 shares of the transportation company’s stock, valued at approximately $4,778,000.

Other hedge funds have also bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in shares of J.B. Hunt Transport Services by 111.1% during the fourth quarter. Thrivent Financial for Lutherans now owns 956,504 shares of the transportation company’s stock valued at $163,237,000 after buying an additional 503,324 shares during the last quarter. Paloma Partners Management Co grew its stake in J.B. Hunt Transport Services by 14,254.9% during the 3rd quarter. Paloma Partners Management Co now owns 185,896 shares of the transportation company’s stock valued at $32,035,000 after purchasing an additional 184,601 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of J.B. Hunt Transport Services by 155.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 220,840 shares of the transportation company’s stock valued at $37,689,000 after purchasing an additional 134,476 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of J.B. Hunt Transport Services in the third quarter worth about $15,149,000. Finally, Scopia Capital Management LP acquired a new stake in shares of J.B. Hunt Transport Services during the third quarter worth about $12,630,000. Institutional investors and hedge funds own 74.95% of the company’s stock.

J.B. Hunt Transport Services Price Performance

NASDAQ:JBHT opened at $149.95 on Wednesday. The firm has a market cap of $15.00 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 1.61 and a beta of 1.16. The stock has a 50 day moving average of $164.22 and a two-hundred day moving average of $172.56. J.B. Hunt Transport Services, Inc. has a 12 month low of $144.34 and a 12 month high of $200.40. The company has a current ratio of 1.03, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24.

J.B. Hunt Transport Services (NASDAQ:JBHT) last announced its earnings results on Thursday, January 16th. The transportation company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.09). The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.13 billion. J.B. Hunt Transport Services had a return on equity of 14.05% and a net margin of 4.72%. The company’s revenue for the quarter was down 4.5% compared to the same quarter last year. During the same period last year, the firm earned $1.47 EPS. On average, analysts expect that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current fiscal year.

J.B. Hunt Transport Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 21st. Shareholders of record on Friday, February 7th were issued a $0.44 dividend. This is an increase from J.B. Hunt Transport Services’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.76 dividend on an annualized basis and a yield of 1.17%. J.B. Hunt Transport Services’s dividend payout ratio is presently 31.65%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Truist Financial initiated coverage on shares of J.B. Hunt Transport Services in a research report on Thursday, March 13th. They set a “hold” rating and a $165.00 price target for the company. Evercore ISI reduced their target price on shares of J.B. Hunt Transport Services from $207.00 to $202.00 and set an “outperform” rating for the company in a report on Friday, January 17th. Raymond James lowered their price target on shares of J.B. Hunt Transport Services from $200.00 to $190.00 and set an “outperform” rating on the stock in a report on Tuesday, January 21st. UBS Group reduced their price objective on J.B. Hunt Transport Services from $211.00 to $196.00 and set a “buy” rating for the company in a research note on Friday, January 17th. Finally, Bank of America decreased their price objective on J.B. Hunt Transport Services from $189.00 to $170.00 and set a “buy” rating for the company in a report on Monday, March 17th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $186.80.

Insiders Place Their Bets

In related news, Director James K. Thompson sold 4,400 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $175.37, for a total value of $771,628.00. Following the completion of the sale, the director now owns 23,559 shares of the company’s stock, valued at approximately $4,131,541.83. This trade represents a 15.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darren P. Field sold 1,200 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $161.67, for a total value of $194,004.00. Following the transaction, the executive vice president now directly owns 17,822 shares in the company, valued at $2,881,282.74. This trade represents a 6.31 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.10% of the company’s stock.

J.B. Hunt Transport Services 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.