Nisa Investment Advisors Cuts Stake in J.B. Hunt Transport by 4.8%

Nisa Investment Advisors LLC has reduced its stake in J.B. Hunt Transport Services, Inc. (NASDAQ: JBHT) by 4.8% during the second quarter of 2023. This adjustment, disclosed in a recent filing with the Securities and Exchange Commission, indicates the fund now holds 11,223 shares after selling 562 shares. The value of Nisa’s holdings stands at approximately $1,612,000 as of the end of the most recent quarter.

Several other institutional investors have also made significant changes to their positions in J.B. Hunt. For instance, Summit Securities Group LLC increased its stake by an astonishing 19,600.0% in the first quarter, now owning 197 shares valued at $29,000. Similarly, Private Trust Co. NA raised its holdings by 57.8% in the second quarter, while Allworth Financial LP and National Pension Service also reported notable increases in their investments.

As of now, institutional investors collectively own 74.95% of J.B. Hunt’s stock, reflecting a strong interest from the investment community.

J.B. Hunt’s Stock Performance and Financial Results

The stock of J.B. Hunt Transport Services opened at $166.64 on the most recent trading day. The company boasts a market capitalization of $15.87 billion, a price-to-earnings ratio of 28.88, and a price-to-earnings-growth ratio of 2.33. Over the past twelve months, the stock has experienced a low of $122.79 and a high of $200.40. The company reported a 50-day moving average price of $145.43 and a 200-day moving average of $143.09.

On October 15, 2023, J.B. Hunt announced its earnings results, revealing an earnings per share (EPS) of $1.76. This figure surpassed analysts’ expectations of $1.46 by $0.30. The reported revenue for the quarter was $3.05 billion, slightly ahead of the consensus estimate of $3.02 billion. Despite the positive earnings report, the company’s revenue showed a slight decline of 0.5% compared to the same quarter last year.

In light of its recent performance, J.B. Hunt’s board of directors has initiated a stock repurchase plan, allowing the company to buy back shares from the open market. This move often signals that the board believes the stock is undervalued.

Dividends and Insider Trading Activities

J.B. Hunt also announced a quarterly dividend of $0.44 per share, set to be paid on November 21, 2023. Shareholders of record on November 7 will be eligible for this payment, translating to an annualized dividend of $1.76 and a yield of 1.1%. The company maintains a dividend payout ratio (DPR) of 30.50%.

In recent insider trading news, Executive Vice President Darren P. Field sold 6,500 shares at an average price of $169.00, amounting to a total of $1,098,500. Following this transaction, Field’s ownership in the company decreased by 33.37%. Conversely, EVP Eric McGee purchased 1,148 shares at an average price of $140.76, representing an 18.37% increase in his holdings.

Analysts continue to monitor J.B. Hunt closely, with several recent upgrades to the stock. Morgan Stanley raised its price target from $145.00 to $150.00, while Barclays also increased its target to $150.00. Overall, the stock holds a consensus rating of “Moderate Buy” with an average price target of $166.30.

As J.B. Hunt Transport Services navigates the complexities of the transportation sector, its recent financial activities and the evolving landscape of institutional investment offer critical insights into its future trajectory.