As of the most recent filing with the Securities and Exchange Commission (SEC), Mirae Asset Global Investments Co. Ltd. has increased its position in J.B. Hunt Transport Services, Inc. (NASDAQ:JBHT) by 5.6% during Q4, bringing their total holdings to 13,568 shares. This move was worth $2,366,000 at the time of filing on May 26th, 2023.
However, in other news regarding J.B. Hunt Transport Services Inc., Chief Financial Officer (CFO) John Kuhlow recently sold 3,500 shares on Friday May 12th at an average price of $176.05 per share for a total value of $616,175.00 while Executive Vice President Eric McGee sold 1,200 shares on April 28th at an average price of $175.30 for a total transaction value of $210,360.
Despite the insider selling activity that has taken place over the last few weeks insiders still own approximately 3.10% of J.B Hunt Transport Services’ stock which as of Friday stands at $170.97 with the firm’s moving averages being $172.78 over 50 days and $179.04 for its running sum.
J.B Hunt is a renowned transportation company maintaining a strong market capitalization standing at $17.72 billion with PE ratio being around 19-20%. It seems reasonable to suggest that these sales caused some concerns in terms of investor sentiment; analysts and market watchers will be closely observing any drastic changes in J.B Hunt’s stock performance following this information.
To conclude it is interesting that despite the insider movement within J.B Hunt its largest institutional shareholder continues to purchase further stake in JBHT – it remains for time to tell whether this instills confidence from investors or raises even more questions about what lies ahead for this leading global logistics provider.
J.B. Hunt’s Institutional Investments Impact Share Price Fluctuations and Future Earnings Predictions
J.B. Hunt Transport Services Inc. has been making headlines this past week, with recent fluctuations in institutional investments impacting the share price of the transportation company. Vanguard Group Inc., Bank of New York Mellon Corp, Victory Capital Management Inc., Dimensional Fund Advisors LP and Macquarie Group Ltd have all increased their holdings in J.B. Hunt Transport Services recently, resulting in a significant change in the market capitalization of the firm.
Deutsche Bank Aktiengesellschaft reduced their target price on shares of J.B. Hunt Transport Services by $7 down to $207 a share and Morgan Stanley reduced their price objective from $180.00 to $172.00 for shares of the company’s stock respectively, while Susquehanna upheld their neutral rating on J.B. Hunt Transport Services shares.
Despite this fluctuation however, it should come as no surprise that several equities research analysts are rating J.B. Hunt Transport Services moderately positively and Bloomberg.com estimates an average price target at $189 per share whilst reporting an average rating of “Moderate Buy” among brokerages.
Recent news has seen CFO John Kuhlow sell 3,500 shares at an average price of $176 each whilst EVP Eric Mcgee sold 1,200 shares for an average price of $175.30 per share last month.
Despite missing analysts’ consensus EPS estimate for Q1 2017 by twenty three cents ($0.23), J.B Hunt Transport Services seems optimistic about its future EPS estimates, anticipated to rise above eight dollars a year over FY2017.
Alongside these announcements came news that J.B. Hunt Transport Services would issue a quarterly dividend which would pay out Friday May 26th, providing stockholders of record as at Friday May 12th with a dividend payout ratio (DPR) currently standing at 19%.
Discussion about this post