William Blair Investment Management LLC Buys 4,183 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

William Blair Investment Management LLC boosted its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 95.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,555 shares of the transportation company’s stock after purchasing an additional 4,183 shares during the quarter. William Blair Investment Management LLC’s holdings in Knight-Swift Transportation were worth $427,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rise Advisors LLC acquired a new position in shares of Knight-Swift Transportation during the 1st quarter worth about $25,000. GAMMA Investing LLC boosted its stake in Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares during the last quarter. Versant Capital Management Inc grew its holdings in Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after purchasing an additional 727 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 343 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after purchasing an additional 579 shares during the period. Institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

KNX has been the subject of a number of recent analyst reports. UBS Group dropped their price objective on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research note on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company started coverage on Knight-Swift Transportation in a research note on Friday, June 7th. They set an “overweight” rating and a $56.00 target price for the company. Bank of America lifted their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.14.

Insider Buying and Selling

In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now owns 21,833 shares in the company, valued at $1,164,135.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total transaction of $304,679.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

KNX opened at $52.30 on Tuesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $51.70 and its 200 day simple moving average is $50.76. The firm has a market capitalization of $8.45 billion, a PE ratio of 78.06, a PEG ratio of 1.42 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the company posted $0.49 EPS. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. As a group, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.22%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 95.52%.

About Knight-Swift Transportation

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.