Commonwealth Equity Services LLC trimmed its position in Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 22.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,563 shares of the transportation company’s stock after selling 2,769 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Knight-Swift Transportation were worth $398,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the stock. Twin Tree Management LP raised its stake in Knight-Swift Transportation by 101.4% during the first quarter. Twin Tree Management LP now owns 786 shares of the transportation company’s stock valued at $26,000 after purchasing an additional 58,086 shares in the last quarter. Bartlett & Co. LLC purchased a new stake in Knight-Swift Transportation in the 1st quarter valued at about $41,000. CSat Investment Advisory L.P. raised its position in Knight-Swift Transportation by 20.6% in the first quarter. CSat Investment Advisory L.P. now owns 1,605 shares of the transportation company’s stock valued at $53,000 after purchasing an additional 274 shares during the period. Signaturefd LLC grew its position in Knight-Swift Transportation by 68.4% in the 2nd quarter. Signaturefd LLC now owns 1,359 shares of the transportation company’s stock valued at $57,000 after acquiring an additional 552 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in Knight-Swift Transportation by 102.6% during the first quarter. Fifth Third Bancorp now owns 2,000 shares of the transportation company’s stock worth $66,000 after purchasing an additional 1,013 shares during the period. Institutional investors own 84.35% of the company’s stock.
Several research firms have recently commented on KNX. Zacks Investment Research raised shares of Knight-Swift Transportation from a “hold” rating to a “strong-buy” rating and set a $52.00 price objective for the company in a research note on Monday, July 27th. Loop Capital boosted their target price on shares of Knight-Swift Transportation from $46.00 to $49.00 in a research note on Tuesday, June 23rd. Robert W. Baird increased their price target on shares of Knight-Swift Transportation from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Barclays raised their target price on shares of Knight-Swift Transportation from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Finally, KeyCorp raised their price objective on shares of Knight-Swift Transportation from $47.00 to $52.00 and gave the stock an “overweight” rating in a research report on Thursday, July 23rd. Three equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Knight-Swift Transportation currently has a consensus rating of “Buy” and an average price target of $49.00.
KNX stock opened at $43.79 on Wednesday. Knight-Swift Transportation Holdings Inc has a 52 week low of $27.54 and a 52 week high of $47.44. The company has a market cap of $7.45 billion, a price-to-earnings ratio of 26.07, a PEG ratio of 1.37 and a beta of 1.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $44.69 and a 200-day simple moving average of $39.43.
Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 22nd. The transportation company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.22. Knight-Swift Transportation had a return on equity of 6.14% and a net margin of 6.28%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.08 billion. As a group, analysts expect that Knight-Swift Transportation Holdings Inc will post 2.2 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 4th will be issued a dividend of $0.08 per share. The ex-dividend date is Thursday, September 3rd. This represents a $0.32 annualized dividend and a dividend yield of 0.73%. Knight-Swift Transportation’s payout ratio is currently 14.75%.
In other news, Chairman Kevin P. Knight sold 100,000 shares of Knight-Swift Transportation stock in a transaction dated Thursday, June 18th. The shares were sold at an average price of $42.24, for a total value of $4,224,000.00. Following the completion of the transaction, the chairman now directly owns 3,317 shares of the company’s stock, valued at approximately $140,110.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Timothy Sean Harrington sold 2,690 shares of the stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $45.13, for a total value of $121,399.70. Following the sale, the executive vice president now owns 1,199 shares in the company, valued at $54,110.87. The disclosure for this sale can be found here. Insiders have sold a total of 299,922 shares of company stock worth $13,453,179 in the last ninety days. 4.30% of the stock is currently owned by insiders.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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