Nisa Investment Advisors Reduces Stake in J.B. Hunt Transport Services

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. According to a recent filing with the Securities and Exchange Commission, the firm now holds 11,223 shares after selling 562 shares during this period. As of the end of the quarter, Nisa Investment Advisors’ holdings in the transportation company were valued at approximately $1.612 million.

Several other institutional investors have also adjusted their positions in J.B. Hunt. Notably, Summit Securities Group LLC significantly increased its holdings by an astonishing 19,600.0% in the first quarter, acquiring 197 shares valued at $29,000 after purchasing an additional 196 shares. Private Trust Co. NA raised its stake by 57.8% in the same quarter, now owning 202 shares worth $29,000 after acquiring 74 shares.

Other notable increases include Allworth Financial LP, up 167.0% with 235 shares valued at $35,000, and the National Pension Service, which increased its stake by 74.9%, now holding 306 shares worth $45,000. Farther Finance Advisors LLC also raised its position by 38.6%, owning 316 shares worth $45,000. Overall, approximately 74.95% of J.B. Hunt’s stock is owned by institutional investors.

Market Performance and Earnings Report

As of the last trading session, J.B. Hunt’s stock opened at $166.64 and has a market capitalization of $15.87 billion. The company’s price-to-earnings ratio stands at 28.88, indicating investor expectations for future growth. J.B. Hunt’s stock has fluctuated between a 12-month low of $122.79 and a high of $200.40. The firm also reported a 12-month moving average of $145.43 and a 200-day moving average of $143.09.

On October 15, 2023, J.B. Hunt reported earnings that exceeded analysts’ expectations. The transportation company recorded an earnings per share (EPS) of $1.76, surpassing the consensus estimate of $1.46 by $0.30. Revenue for the quarter reached $3.05 billion, slightly above the projected $3.02 billion. Despite the positive earnings, J.B. Hunt’s revenue was down 0.5% year-over-year.

Analysts anticipate that J.B. Hunt will post an EPS of $6.37 for the current year, a reflection of ongoing cautious optimism within the market.

Dividends and Insider Trading

In an announcement made on October 22, 2023, J.B. Hunt’s board initiated a stock repurchase plan, allowing the company to buy back shares through open market purchases. This decision is often interpreted as a sign that the board believes the company’s stock is undervalued.

The company also declared a quarterly dividend of $0.44, scheduled for payment on November 21, 2023, to investors of record as of November 7, 2023. This translates to an annualized dividend of $1.76 and a yield of 1.1%, with a dividend payout ratio of 30.50%.

In related news, executive vice president Darren P. Field sold 6,500 shares at an average price of $169.00, totaling $1,098,500. This transaction resulted in a 33.37% decrease in his holdings. Conversely, EVP Eric McGee purchased 1,148 shares at an average price of $140.76, increasing his stake by 18.37%.

Analysts have recently updated their ratings for J.B. Hunt. Morgan Stanley raised its price target from $145.00 to $150.00, maintaining an “equal weight” rating. Barclays also increased its price objective to $150.00 while Stephens set a target of $180.00. Currently, J.B. Hunt holds a consensus rating of “Moderate Buy” with an average price target of $166.30, reflecting a mix of optimism among investment analysts.

J.B. Hunt Transport Services remains a significant player in the logistics sector, providing comprehensive transportation and logistic services across the United States. Its diverse operations include intermodal, dedicated contract services, integrated capacity solutions, final mile services, and truckload solutions, positioning the company for potential growth in the evolving market.