LOWELL, Ark.—Eric McGee, Executive Vice President of Highway Services at J.B. Hunt Transport Services Inc. (NASDAQ:JBHT), reported a recent sale of company stock. According to a filing with the Securities and Exchange Commission, McGee sold 100 shares of J.B. Hunt common stock on November 6, 2024, at an average price of approximately $194.82 per share. The total transaction value amounted to $19,482.
Following the sale, McGee retains direct ownership of 845 shares of common stock. Additionally, he holds 6,420.12 shares through a 401(k) plan, alongside various holdings of restricted stock.
J.B. Hunt Transport Services, headquartered in Lowell, Arkansas, is a leading provider in the trucking industry, specializing in transportation and logistics services.
In other recent news, J.B. Hunt Transport Services announced a quarterly dividend of $0.43 per common share, reflecting the firm's commitment to shareholder returns. The company also reported mixed third-quarter results, with a 3% decline in revenue, a 7% drop in operating income, and a 17% decrease in diluted earnings per share. However, it saw a 5% year-over-year increase in intermodal volumes. J.B. Hunt revised its capital expenditures for 2024 down to $625 million and repurchased approximately $200 million in stock.
Analysts have provided mixed reviews, with CFRA downgrading the company's stock rating to Sell, citing concerns about the firm's ability to expand margins due to rising costs and competition. In contrast, Stifel financial firm raised its price target for J.B. Hunt to $167, maintaining a Hold rating, while Baird reaffirmed its Outperform rating with a price target of $205. Both firms acknowledged the company's recent performance, which surpassed market expectations despite a challenging operational environment.
These are the recent developments for J.B. Hunt Transport Services.
InvestingPro Insights
Adding context to Eric McGee's recent stock sale, J.B. Hunt Transport Services Inc. (NASDAQ:JBHT) continues to demonstrate financial resilience in a challenging market environment. According to InvestingPro data, the company boasts a market capitalization of $19.47 billion, reflecting its significant presence in the transportation sector.
An InvestingPro Tip highlights that J.B. Hunt has raised its dividend for 11 consecutive years, showcasing a commitment to shareholder returns. This is particularly noteworthy given the company's moderate level of debt, as indicated by another InvestingPro Tip. The company's ability to maintain dividend growth while managing its debt load speaks to its financial prudence.
Despite recent market volatility, J.B. Hunt has demonstrated strong performance, with a 12.79% price total return over the past month. This short-term strength is complemented by the company's long-term dividend consistency, having maintained payments for 21 consecutive years.
It's worth noting that J.B. Hunt is trading at a relatively high P/E ratio of 34.82, suggesting investors are pricing in future growth expectations. This valuation metric, combined with the company's recent stock performance and dividend history, provides a more comprehensive picture for investors considering the stock's potential.
For those seeking a deeper analysis, InvestingPro offers 9 additional tips on J.B. Hunt, providing further insights into the company's financial health and market position.
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