Vident Investment Advisory LLC increased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX – Get Rating) by 11.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 132,005 shares of the transportation company's stock after purchasing an additional 13,612 shares during the quarter. Vident Investment Advisory LLC owned 0.08% of Knight-Swift Transportation worth $6,662,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Steward Financial Group LLC purchased a new position in shares of Knight-Swift Transportation in the first quarter valued at about $26,000. Parkside Financial Bank & Trust raised its holdings in shares of Knight-Swift Transportation by 336.0% during the fourth quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company's stock valued at $27,000 after purchasing an additional 336 shares during the last quarter. TCI Wealth Advisors Inc. raised its holdings in shares of Knight-Swift Transportation by 263.9% during the first quarter. TCI Wealth Advisors Inc. now owns 655 shares of the transportation company's stock valued at $33,000 after purchasing an additional 475 shares during the last quarter. Quent Capital LLC purchased a new position in shares of Knight-Swift Transportation during the fourth quarter valued at approximately $36,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in Knight-Swift Transportation during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.64% of the company's stock.
Get Knight-Swift Transportation alerts:Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on KNX shares. Wells Fargo & Company dropped their target price on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an "overweight" rating for the company in a research report on Friday, July 15th. Susquehanna Bancshares raised their price target on shares of Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a "positive" rating in a research note on Thursday, July 21st. Susquehanna increased their target price on shares of Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a "positive" rating in a report on Thursday, July 21st. Credit Suisse Group dropped their target price on shares of Knight-Swift Transportation to $66.00 in a report on Friday, July 22nd. Finally, Barclays lowered their target price on shares of Knight-Swift Transportation from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.94.
Insider Activity
In other news, EVP James E. Jr. Updike sold 2,400 shares of the business's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $55.18, for a total transaction of $132,432.00. Following the transaction, the executive vice president now owns 19,944 shares of the company's stock, valued at approximately $1,100,509.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company's stock.Knight-Swift Transportation Trading Up 2.3 %
Shares of KNX opened at $50.90 on Friday. The firm's fifty day moving average is $51.86 and its two-hundred day moving average is $50.05. 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 cap of $8.18 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 0.63 and a beta of 1.26. Knight-Swift Transportation Holdings Inc. has a 52-week low of $42.50 and a 52-week high of $62.29.
Knight-Swift Transportation (NYSE:KNX – Get Rating) last announced its quarterly earnings results on Wednesday, July 20th. The transportation company reported $1.41 earnings per share for the quarter, beating 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 company's revenue was up 49.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 EPS. Research analysts forecast that Knight-Swift Transportation Holdings Inc. will post 5.39 earnings per share for the current fiscal year.
Knight-Swift Transportation Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, September 26th. Stockholders of record on Monday, September 5th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.48 annualized dividend and a dividend yield of 0.94%. Knight-Swift Transportation's payout ratio is 8.97%.
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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