State of New Jersey Common Pension Fund D Lowers Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

State of New Jersey Common Pension Fund D decreased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 32.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,334 shares of the transportation company’s stock after selling 26,970 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Knight-Swift Transportation were worth $2,812,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its position in Knight-Swift Transportation by 4.7% during the second quarter. Daiwa Securities Group Inc. now owns 11,097 shares of the transportation company’s stock valued at $554,000 after purchasing an additional 500 shares during the last quarter. United Services Automobile Association lifted its holdings in shares of Knight-Swift Transportation by 1.6% during the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock worth $637,000 after acquiring an additional 199 shares during the last quarter. Hudson Edge Investment Partners Inc. lifted its holdings in shares of Knight-Swift Transportation by 15.7% during the 2nd quarter. Hudson Edge Investment Partners Inc. now owns 10,411 shares of the transportation company’s stock worth $520,000 after acquiring an additional 1,414 shares during the last quarter. Acadian Asset Management LLC purchased a new position in Knight-Swift Transportation in the second quarter worth $91,000. Finally, Victory Capital Management Inc. increased its stake in Knight-Swift Transportation by 10.9% in the second quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock valued at $379,133,000 after acquiring an additional 744,412 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Insider Activity

In related 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 transaction, the director now directly owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $53.32, for a total transaction of $133,300.00. Following the transaction, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the sale, the director now owns 17,648 shares of the company’s stock, valued at $892,459.36. The disclosure for this sale can be found here. Insiders have sold a total of 85,196 shares of company stock worth $4,367,869 over the last 90 days. 3.00% of the stock is currently owned by insiders.

Knight-Swift Transportation Stock Performance

Shares of Knight-Swift Transportation stock opened at $52.68 on Thursday. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The firm has a market capitalization of $8.51 billion, a P/E ratio of 78.63, a P/E/G ratio of 1.42 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $51.86 and a two-hundred day simple moving average of $50.75.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). The business had revenue of $1.85 billion for the quarter, compared to the consensus estimate of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. During the same period in the prior year, the business posted $0.49 EPS. Knight-Swift Transportation’s revenue for the quarter was up 18.9% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders 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 dividend yield of 1.21%. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on KNX. TD Cowen increased their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Evercore ISI reduced their target price on shares of Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. boosted their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Barclays lifted their price objective on Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation presently has an average rating of “Moderate Buy” and an average target price of $57.14.

Knight-Swift Transportation 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.