Brian Webb, Executive Vice President of Final Mile Services at J.B. Hunt Transport Services Inc. (NASDAQ:JBHT), recently sold 530 shares of the company's common stock. The transaction, which took place on November 7, 2024, was executed at a price of $192.83 per share, amounting to a total value of $102,199.
Following the sale, Webb holds 15,733 shares of J.B. Hunt's common stock. Additionally, Webb maintains ownership of 2,461.25 shares through a 401(k) plan. The executive also has various holdings of restricted stock, with a total of 9,387 shares across different vesting schedules.
J.B. Hunt Transport Services, headquartered in Lowell, Arkansas, is a leading transportation and logistics company in the United States.
In other recent news, J.B. Hunt Transport Services announced a quarterly dividend of $0.43 per share, emphasizing its commitment to shareholder returns. The company also reported mixed third quarter results, with a 3% decrease in revenue, a 7% decline in operating income, and a 17% drop in diluted earnings per share. Despite these challenges, J.B. Hunt saw a 5% year-over-year increase in intermodal volumes. In response to these results, CFRA downgraded J.B. Hunt's stock to Sell, while Stifel raised its price target to $167, maintaining a Hold rating. Baird reaffirmed its Outperform rating with a price target of $205, expressing confidence in the company's recent performance. J.B. Hunt also revised its capital expenditures for 2024 down to $625 million and repurchased approximately $200 million in stock. These are the latest developments for J.B. Hunt Transport Services.
InvestingPro Insights
Following Brian Webb's recent stock sale, investors may find additional context in J.B. Hunt's financial metrics and market performance. According to InvestingPro data, J.B. Hunt (NASDAQ:JBHT) currently boasts a market capitalization of $19.38 billion, reflecting its significant presence in the transportation and logistics sector.
The company's stock has shown strong momentum recently, with InvestingPro reporting a 14.05% price total return over the past month and a 15.04% return over the last three months. This positive trend aligns with the company's solid fundamentals, as evidenced by two key InvestingPro Tips: J.B. Hunt has maintained dividend payments for 21 consecutive years and has raised its dividend for 11 consecutive years, demonstrating a commitment to shareholder returns.
However, investors should note that J.B. Hunt is trading at a relatively high P/E ratio of 34.67, which may indicate that the stock is priced at a premium compared to its earnings. This valuation metric could be an important consideration for potential investors analyzing the stock's current price levels in relation to Webb's recent sale.
For those seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for J.B. Hunt, providing a deeper dive into the company's financial health and market position.
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