Riverhead Capital Management LLC Raises Position in J B Hunt Transport Services Inc (NASDAQ:JBHT)
Riverhead Capital Management LLC lifted its stake in J B Hunt Transport Services Inc (NASDAQ:JBHT) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,100 shares of the transportation company’s stock after buying an additional 600 shares during the period. Riverhead Capital Management LLC’s holdings in J B Hunt Transport Services were worth $375,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of JBHT. Thor Advisors LLC purchased a new position in J B Hunt Transport Services in the first quarter valued at about $35,000. FTB Advisors Inc. boosted its holdings in J B Hunt Transport Services by 49.2% in the second quarter. FTB Advisors Inc. now owns 373 shares of the transportation company’s stock valued at $34,000 after purchasing an additional 123 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new position in J B Hunt Transport Services in the second quarter valued at about $46,000. CWM LLC boosted its holdings in J B Hunt Transport Services by 122.0% in the second quarter. CWM LLC now owns 637 shares of the transportation company’s stock valued at $58,000 after purchasing an additional 350 shares during the last quarter. Finally, Marshall Wace North America L.P. purchased a new position in J B Hunt Transport Services in the first quarter valued at about $80,000. 73.89% of the stock is owned by institutional investors.
In related news, Director Earl Wayne Garrison sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $111.29, for a total value of $5,564,500.00. Following the sale, the director now directly owns 1,608,958 shares in the company, valued at approximately $179,060,935.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Darren P. Field sold 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The shares were sold at an average price of $99.07, for a total value of $118,884.00. Following the completion of the sale, the executive vice president now owns 8,144 shares in the company, valued at $806,826.08. The disclosure for this sale can be found here. Insiders have sold a total of 83,126 shares of company stock worth $8,971,721 over the last quarter. Insiders own 3.60% of the company’s stock.
J B Hunt Transport Services (NASDAQ:JBHT) last announced its quarterly earnings data on Monday, July 15th. The transportation company reported $1.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.35 by ($0.12). J B Hunt Transport Services had a net margin of 5.33% and a return on equity of 29.35%. The firm had revenue of $2.26 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the previous year, the company earned $1.37 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities research analysts expect that J B Hunt Transport Services Inc will post 5.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 2nd were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, August 1st. J B Hunt Transport Services’s payout ratio is 18.34%.
A number of brokerages recently commented on JBHT. ValuEngine raised J B Hunt Transport Services from a “hold” rating to a “buy” rating in a report on Tuesday. Susquehanna Bancshares increased their price target on J B Hunt Transport Services from $110.00 to $114.00 in a report on Tuesday, July 16th. Goldman Sachs Group began coverage on J B Hunt Transport Services in a report on Wednesday, July 10th. They issued a “buy” rating and a $113.00 price target for the company. Stephens increased their price target on J B Hunt Transport Services from $107.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Morgan Stanley set a $88.00 price target on J B Hunt Transport Services and gave the company a “hold” rating in a report on Monday, July 8th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $107.13.
About J B Hunt Transport Services
J.B. Hunt Transport Services, Inc, together with its subsidiaries, provides surface transportation and delivery services in the continental United States, Canada, and Mexico. It operates in four segments: Intermodal (JBI), Dedicated Contract Services (DCS), Integrated Capacity Solutions (ICS), and Truckload (JBT).
See Also: Producer Price Index (PPI)
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