Piedmont Investment Advisors LLC bought a new stake in Knight-Swift Transportation Holdings Inc (NYSE:KNX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 14,432 shares of the transportation company’s stock, valued at approximately $535,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Knight-Swift Transportation Holdings by 1.7% in the 2nd quarter. BlackRock Inc. now owns 8,031,762 shares of the transportation company’s stock valued at $297,576,000 after purchasing an additional 133,297 shares during the period. Vanguard Group Inc. grew its stake in shares of Knight-Swift Transportation Holdings by 10.4% in the 2nd quarter. Vanguard Group Inc. now owns 6,279,350 shares of the transportation company’s stock valued at $232,649,000 after buying an additional 590,259 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Knight-Swift Transportation Holdings by 45.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 4,276,086 shares of the transportation company’s stock valued at $158,429,000 after buying an additional 1,329,855 shares in the last quarter. State Street Corp grew its stake in shares of Knight-Swift Transportation Holdings by 6.7% in the 2nd quarter. State Street Corp now owns 1,837,500 shares of the transportation company’s stock valued at $68,084,000 after buying an additional 115,433 shares in the last quarter. Finally, Teachers Advisors LLC boosted its position in Knight-Swift Transportation Holdings by 1,098.3% during the second quarter. Teachers Advisors LLC now owns 1,381,195 shares of the transportation company’s stock worth $51,173,000 after purchasing an additional 1,265,934 shares during the period.
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A number of brokerages have issued reports on KNX. Zacks Investment Research cut Knight-Swift Transportation Holdings from a “hold” rating to a “sell” rating in a research report on Tuesday. J P Morgan Chase & Co began coverage on Knight-Swift Transportation Holdings in a research report on Thursday, October 12th. They issued a “neutral” rating and a $39.00 price objective for the company. ValuEngine cut Knight-Swift Transportation Holdings from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Barclays PLC increased their price objective on Knight-Swift Transportation Holdings from $33.00 to $37.00 and gave the company an “underweight” rating in a research report on Monday, October 2nd. Finally, UBS AG upped their target price on Knight-Swift Transportation Holdings from $43.00 to $53.00 and gave the company a “buy” rating in a research note on Friday, September 29th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $40.41.
In other news, Director G D. Madden sold 1,875 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $36.52, for a total value of $68,475.00. Following the sale, the director now directly owns 56,011 shares of the company’s stock, valued at approximately $2,045,521.72. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel Todd F. Carlson sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $37.86, for a total value of $113,580.00. Following the completion of the sale, the general counsel now directly owns 23,638 shares in the company, valued at $894,934.68. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.
Knight-Swift Transportation Holdings Inc (NYSE KNX) traded up 0.70% during midday trading on Friday, hitting $41.67. The stock had a trading volume of 1,648,900 shares. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of 42.96 and a beta of 1.97. Knight-Swift Transportation Holdings Inc has a 52 week low of $28.04 and a 52 week high of $44.45. The company’s 50 day moving average price is $40.23 and its 200-day moving average price is $36.61.
Knight-Swift Transportation Holdings (NYSE:KNX) last posted its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.25 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.25. The business had revenue of $273.20 million for the quarter, compared to analysts’ expectations of $283.88 million. Knight-Swift Transportation Holdings had a return on equity of 22.23% and a net margin of 2.99%. The business’s revenue was down 1.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.31 EPS. Equities analysts anticipate that Knight-Swift Transportation Holdings Inc will post $1.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 1st were given a dividend of $0.06 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.24 annualized dividend and a yield of 0.58%.
Knight-Swift Transportation Holdings Company Profile
Knight Transportation, Inc is a provider of multiple truckload transportation and logistics services, which involve the movement of trailer or container loads of freight from origin to destination for a single customer. The Company operates through two segments: Trucking and Logistics. Its Trucking segment consists of three operating units: dry van truckload, temperature-controlled truckload and drayage services.
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