JOLTS Job Openings (Jun) 7.44M vs 7.5M Expected
Darren P. Field, Executive Vice President and President of Intermodal at J.B. Hunt Transport Services Inc. (NASDAQ:JBHT), recently sold a portion of his holdings in the company. The stock, currently trading near its 52-week low of $153.12, has seen a 19.3% decline over the past year. According to InvestingPro analysis, the company appears slightly undervalued at current levels. According to a filing with the Securities and Exchange Commission, Field sold 1,200 shares of common stock on March 7 at a price of $161.67 per share, totaling approximately $194,003.
Following this transaction, Field retains direct ownership of 17,822.356 shares of common stock. Additionally, he holds 6,709.8087 shares in a 401(k) account. Field’s transactions were part of the company’s regular reporting of insider activities to the SEC.
In other recent news, J.B. Hunt Transport Services reported an earnings per share (EPS) of $1.53 for the fourth quarter, which fell short of the FactSet consensus estimate of $1.61. The company also announced a modest increase in its quarterly dividend, raising it by 2.3% to $0.44 per share. This decision reflects J.B. Hunt’s ongoing strategy to share its success with investors. Additionally, Benchmark analysts reiterated their Buy rating on the company, despite lowering their earnings estimates following the recent earnings report. In contrast, TD Cowen maintained a Hold rating while reducing the price target to $171, citing margin limitations and challenges in the dedicated segment. J.B. Hunt has also introduced a new performance-based bonus plan for executive officers, focusing on operating income, revenue excluding fuel surcharges, and safety performance. In a significant insider transaction, director James L. Robo purchased $9.99 million worth of J.B. Hunt stock, increasing his ownership to 88,763 shares. These developments come as the company navigates a challenging economic environment and aims to align executive compensation with performance objectives.
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