Merit Financial Group LLC Buys 1,883 Shares of J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT)

Merit Financial Group LLC grew its stake in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 127.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,364 shares of the transportation company’s stock after purchasing an additional 1,883 shares during the period. Merit Financial Group LLC’s holdings in J.B. Hunt Transport Services were worth $498,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its stake in J.B. Hunt Transport Services by 428.4% during the fourth quarter. Wellington Management Group LLP now owns 1,263,391 shares of the transportation company’s stock worth $215,610,000 after buying an additional 1,024,295 shares during the period. Norges Bank purchased a new position in J.B. Hunt Transport Services during the fourth quarter worth $146,618,000. Demars Financial Group LLC boosted its stake in J.B. Hunt Transport Services by 16,964.6% during the fourth quarter. Demars Financial Group LLC now owns 610,059 shares of the transportation company’s stock worth $104,113,000 after buying an additional 606,484 shares during the period. Thrivent Financial for Lutherans grew its holdings in shares of J.B. Hunt Transport Services by 111.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 956,504 shares of the transportation company’s stock worth $163,237,000 after purchasing an additional 503,324 shares during the last quarter. Finally, Worldquant Millennium Advisors LLC lifted its holdings in J.B. Hunt Transport Services by 2,408.1% during the 4th quarter. Worldquant Millennium Advisors LLC now owns 213,888 shares of the transportation company’s stock valued at $36,502,000 after buying an additional 205,360 shares in the last quarter. Institutional investors own 74.95% of the company’s stock.

J.B. Hunt Transport Services Stock Performance

Shares of NASDAQ JBHT opened at $145.18 on Wednesday. The company’s fifty day moving average price is $136.64 and its 200 day moving average price is $157.50. J.B. Hunt Transport Services, Inc. has a 1 year low of $122.79 and a 1 year high of $200.40. The company has a market capitalization of $14.40 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 1.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.94 and a current ratio of 1.03.

J.B. Hunt Transport Services (NASDAQ:JBHT) last posted its quarterly earnings data on Tuesday, April 15th. The transportation company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.02. The company had revenue of $2.92 billion during the quarter, compared to analysts’ expectations of $2.92 billion. J.B. Hunt Transport Services had a net margin of 4.72% and a return on equity of 14.05%. On average, research analysts predict that J.B. Hunt Transport Services, Inc. will post 6.37 earnings per share for the current year.

J.B. Hunt Transport Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Friday, May 9th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Friday, May 9th. J.B. Hunt Transport Services’s dividend payout ratio (DPR) is 31.94%.

Insider Activity

In related news, COO Nicholas Hobbs purchased 1,529 shares of the company’s stock in a transaction on Wednesday, April 23rd. The stock was acquired at an average cost of $130.75 per share, for a total transaction of $199,916.75. Following the completion of the transaction, the chief operating officer now directly owns 91,847 shares in the company, valued at approximately $12,008,995.25. The trade was a 1.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 2.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on JBHT. Citigroup lowered their price objective on shares of J.B. Hunt Transport Services from $193.00 to $164.00 and set a “buy” rating for the company in a research report on Tuesday, April 8th. Raymond James lowered their price objective on shares of J.B. Hunt Transport Services from $190.00 to $165.00 and set an “outperform” rating for the company in a research report on Friday, April 11th. Barclays reduced their price target on shares of J.B. Hunt Transport Services from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, April 2nd. The Goldman Sachs Group restated a “neutral” rating and issued a $164.00 price target on shares of J.B. Hunt Transport Services in a report on Monday, June 2nd. Finally, Stifel Nicolaus set a $150.00 price target on shares of J.B. Hunt Transport Services in a report on Wednesday, April 16th. Ten equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $161.90.

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.