Wedge Capital Management L L P NC Sells 17,750 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Wedge Capital Management L L P NC cut its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 7.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,143 shares of the transportation company’s stock after selling 17,750 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Knight-Swift Transportation were worth $12,345,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Knight-Swift Transportation by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 14,964,291 shares of the transportation company’s stock worth $750,459,000 after acquiring an additional 54,133 shares in the last quarter. Nordea Investment Management AB grew its position in Knight-Swift Transportation by 4.5% during the 3rd quarter. Nordea Investment Management AB now owns 1,251,000 shares of the transportation company’s stock valued at $62,950,000 after purchasing an additional 54,076 shares during the last quarter. Envestnet Asset Management Inc. grew its position in Knight-Swift Transportation by 22.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 205,951 shares of the transportation company’s stock valued at $10,328,000 after purchasing an additional 37,934 shares during the last quarter. Assenagon Asset Management S.A. grew its position in Knight-Swift Transportation by 3,637.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 185,626 shares of the transportation company’s stock valued at $10,701,000 after purchasing an additional 180,659 shares during the last quarter. Finally, Comerica Bank purchased a new stake in Knight-Swift Transportation during the 3rd quarter valued at about $4,674,000. 88.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on KNX shares. Stephens cut their price objective on shares of Knight-Swift Transportation from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Loop Capital downgraded shares of Knight-Swift Transportation from a “buy” rating to a “hold” rating and cut their price objective for the company from $63.00 to $53.00 in a research report on Thursday, April 18th. Bank of America cut their price objective on shares of Knight-Swift Transportation from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Thursday, April 18th. TD Cowen dropped their price target on shares of Knight-Swift Transportation from $58.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Finally, Susquehanna dropped their price target on shares of Knight-Swift Transportation from $59.00 to $50.00 and set a “neutral” rating on the stock in a report on Thursday, April 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.77.

Insider Activity

In other news, CAO Cary M. Flanagan sold 2,000 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $56.24, for a total transaction of $112,480.00. Following the completion of the sale, the chief accounting officer now directly owns 5,118 shares of the company’s stock, valued at $287,836.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of KNX stock traded up $0.58 on Tuesday, reaching $48.73. The company’s stock had a trading volume of 107,695 shares, compared to its average volume of 2,093,388. The stock’s fifty day simple moving average is $54.35 and its 200-day simple moving average is $54.26. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.73 and a 1 year high of $60.99. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 36.21, a price-to-earnings-growth ratio of 1.66 and a beta of 0.99.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data on Wednesday, January 24th. The transportation company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.47 by ($0.38). The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Knight-Swift Transportation had a return on equity of 3.93% and a net margin of 3.04%. Analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.93 earnings per share for the current fiscal year.

Knight-Swift Transportation Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Friday, March 8th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.31%. This is a positive change from Knight-Swift Transportation’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, March 7th. Knight-Swift Transportation’s payout ratio is presently 48.12%.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides freight transportation services in the United States and Mexico. The company operates through four segments: Truckload, Less-than-truckload (LTL), Logistics, and Intermodal. The Truckload segment provides transportation services, which include irregular route and dedicated, refrigerated, expedited, flatbed, and cross-border operations.