Bradley W. Hicks, EVP of People & Pres Hwy Svcs at J.B. Hunt Transport Services Inc. (NASDAQ:JBHT), recently sold 500 shares of the company's common stock. The shares were sold at an average price of $192.86, totaling $96,430. Following this transaction, Hicks holds 27,614 shares directly. Additionally, he maintains ownership of 8,278.58 shares through a 401(k) plan.
In terms of restricted stock, Hicks has various holdings with different expiration dates, amounting to several thousand shares. These holdings include 4,798 shares expiring in 2026, 2,228 shares expiring in 2025, and several other blocks of shares expiring in subsequent years.
In other recent news, J.B. Hunt Transport Services reported mixed results for the third quarter, with a 3% decline in revenue, a 7% drop in operating income, and a 17% decrease in diluted earnings per share. However, the company saw a 5% year-over-year increase in intermodal volumes. The company also revised its capital expenditures for 2024 down to $625 million and repurchased approximately $200 million in stock. CFRA downgraded J.B. Hunt's stock rating to Sell, while Stifel financial firm raised its price target for J.B. Hunt, maintaining a Hold rating. Baird reaffirmed its Outperform rating for J.B. Hunt. These are the recent developments for J.B. Hunt Transport Services.
InvestingPro Insights
To provide additional context to Bradley W. Hicks' recent stock sale, it's worth examining J.B. Hunt Transport Services Inc.'s current financial position and market performance. According to InvestingPro data, the company boasts a market capitalization of $19.47 billion, reflecting its significant presence in the transportation sector.
J.B. Hunt's stock has shown strong momentum recently, with InvestingPro reporting a 17.2% price total return over the past month and a 17.62% return over the last three months. This positive trend might explain the timing of Hicks' decision to sell a portion of his holdings.
From a valuation perspective, J.B. Hunt is trading at a P/E ratio of 34.82, which InvestingPro Tips characterize as "trading at a high earnings multiple." This high valuation could suggest that investors have robust expectations for the company's future performance.
InvestingPro Tips also highlight that J.B. Hunt "has raised its dividend for 11 consecutive years" and "has maintained dividend payments for 21 consecutive years." These facts underscore the company's commitment to shareholder returns, which may be reassuring to investors despite the insider sale.
For readers seeking a more comprehensive analysis, InvestingPro offers 10 additional tips for J.B. Hunt, providing a deeper understanding of the company's financial health and market position.
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