American Trust reduced its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) by 7.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,541 shares of the transportation company's stock after selling 938 shares during the quarter. American Trust's holdings in Knight-Swift Transportation were worth $582,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Steward Financial Group LLC purchased a new stake in shares of Knight-Swift Transportation in the 1st quarter worth about $26,000. Parkside Financial Bank & Trust grew its position in shares of Knight-Swift Transportation by 336.0% in the 4th quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company's stock worth $27,000 after buying an additional 336 shares during the period. TCI Wealth Advisors Inc. grew its position in shares of Knight-Swift Transportation by 263.9% in the 1st quarter. TCI Wealth Advisors Inc. now owns 655 shares of the transportation company's stock worth $33,000 after buying an additional 475 shares during the period. Quent Capital LLC purchased a new stake in shares of Knight-Swift Transportation in the 4th quarter worth about $36,000. Finally, Psagot Value Holdings Ltd. Israel purchased a new stake in shares of Knight-Swift Transportation in the 4th quarter worth about $45,000. 89.64% of the stock is owned by hedge funds and other institutional investors.
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Knight-Swift Transportation Price Performance
Shares of NYSE:KNX opened at $48.02 on Friday. The firm's 50 day moving average price is $52.04 and its 200-day moving average price is $49.96. Knight-Swift Transportation Holdings Inc. has a twelve month low of $42.50 and a twelve month high of $62.29. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $7.71 billion, a PE ratio of 8.98, a price-to-earnings-growth ratio of 0.60 and a beta of 1.26.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last issued its quarterly earnings data on Wednesday, July 20th. The transportation company reported $1.41 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.06. The firm had revenue of $1.96 billion for the quarter, compared to analysts' expectations of $1.85 billion. Knight-Swift Transportation had a net
margin of 12.26% and a return on equity of 14.44%. The business's quarterly revenue was up 49.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 EPS. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 5.39 EPS for the current year.
Knight-Swift Transportation Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 26th. Investors of record on Monday, September 5th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.00%. The ex-dividend date is Thursday, September 1st. Knight-Swift Transportation's dividend payout ratio is 8.97%.
Insider Buying and Selling
In related news, EVP James E. Jr. Updike sold 2,400 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $55.18, for a total value of $132,432.00. Following the completion of the sale, the executive vice president now directly owns 19,944 shares of the company's stock, valued at approximately $1,100,509.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.10% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Susquehanna Bancshares upped their target price on shares of Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a "positive" rating in a research report on Thursday, July 21st. Evercore ISI upgraded shares of Knight-Swift Transportation from an "in-line" rating to an "outperform" rating and set a $35.00 price target on the stock in a research note on Tuesday, July 12th. Barclays dropped their price target on shares of Knight-Swift Transportation from $60.00 to $58.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 12th. Wolfe Research upgraded shares of Knight-Swift Transportation from an "underperform" rating to a "peer perform" rating in a research note on Tuesday, July 12th. Finally, Wells Fargo & Company dropped their price target on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Knight-Swift Transportation currently has an average rating of "Moderate Buy" and a consensus target price of $60.94.
Knight-Swift Transportation Company Profile
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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.
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