Sei Investments Co. trimmed its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,312 shares of the transportation company’s stock after selling 1,851 shares during the period. Sei Investments Co.’s holdings in Knight-Swift Transportation were worth $3,424,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in KNX. Standard Life Aberdeen plc raised its position in shares of Knight-Swift Transportation by 12.7% in the 1st quarter. Standard Life Aberdeen plc now owns 10,922 shares of the transportation company’s stock worth $525,000 after acquiring an additional 1,227 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Knight-Swift Transportation by 20.0% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 27,618 shares of the transportation company’s stock valued at $1,328,000 after buying an additional 4,609 shares in the last quarter. Alliancebernstein L.P. increased its position in Knight-Swift Transportation by 23.3% during the 1st quarter. Alliancebernstein L.P. now owns 9,595,520 shares of the transportation company’s stock valued at $461,449,000 after buying an additional 1,811,810 shares in the last quarter. Rhumbline Advisers increased its position in Knight-Swift Transportation by 1.9% during the 1st quarter. Rhumbline Advisers now owns 355,544 shares of the transportation company’s stock valued at $17,098,000 after buying an additional 6,554 shares in the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in Knight-Swift Transportation during the 1st quarter valued at about $1,760,000. 87.32% of the stock is owned by hedge funds and other institutional investors.
Several research analysts recently issued reports on the company. Stifel Europe assumed coverage on Knight-Swift Transportation in a research report on Monday, June 21st. They set a “buy” rating on the stock. They noted that the move was a valuation call. UBS Group increased their price objective on Knight-Swift Transportation from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 22nd. Wells Fargo & Company increased their price objective on Knight-Swift Transportation from $61.00 to $64.00 and gave the company an “overweight” rating in a report on Tuesday, July 13th. Morgan Stanley increased their price target on Knight-Swift Transportation from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Thursday, July 22nd. Finally, Susquehanna lowered their price target on Knight-Swift Transportation from $51.00 to $49.00 and set a “neutral” rating on the stock in a research report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $54.96.
NYSE:KNX opened at $51.72 on Wednesday. The firm has a market cap of $8.58 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 0.87 and a beta of 1.27. The stock has a fifty day moving average price of $50.16 and a 200 day moving average price of $48.22. Knight-Swift Transportation Holdings Inc. has a 12-month low of $37.07 and a 12-month high of $54.00. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.09.
Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Tuesday, July 20th. The transportation company reported $0.98 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.10. The company had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.30 billion. Knight-Swift Transportation had a return on equity of 10.01% and a net margin of 10.88%. Knight-Swift Transportation’s revenue for the quarter was up 24.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Equities analysts forecast that Knight-Swift Transportation Holdings Inc. will post 3.97 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 27th. Shareholders of record on Friday, September 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 2nd. Knight-Swift Transportation’s dividend payout ratio (DPR) is 14.65%.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings, Inc engages in the provision of multiple truckload transportation and logistics services. It operates through the following business segments: Trucking, Logistics, and Intermodal. The Trucking segment comprises irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.
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