Tredje AP fonden Sells 396 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Tredje AP fonden lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,185 shares of the transportation company’s stock after selling 396 shares during the quarter. Tredje AP fonden’s holdings in Knight-Swift Transportation were worth $1,307,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KNX. Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Knight-Swift Transportation by 6.5% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 6,691 shares of the transportation company’s stock worth $334,000 after buying an additional 407 shares during the period. Primecap Management Co. CA boosted its holdings in Knight-Swift Transportation by 7.3% during the second quarter. Primecap Management Co. CA now owns 183,200 shares of the transportation company’s stock valued at $9,145,000 after acquiring an additional 12,500 shares during the period. Renaissance Technologies LLC grew its position in shares of Knight-Swift Transportation by 66.1% in the second quarter. Renaissance Technologies LLC now owns 86,727 shares of the transportation company’s stock valued at $4,329,000 after purchasing an additional 34,500 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Knight-Swift Transportation by 27.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after purchasing an additional 1,176,069 shares during the period. Finally, Black Diamond Financial LLC acquired a new position in shares of Knight-Swift Transportation during the 2nd quarter worth about $257,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on KNX. Barclays raised their target price on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. TD Cowen upped their target price on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Knight-Swift Transportation in a research report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price target on the stock. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. Finally, Raymond James reduced their target price on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.14.

Insiders Place Their Bets

In other news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Knight-Swift Transportation news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $133,300.00. Following the transaction, the director now owns 21,833 shares in the company, valued at $1,164,135.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,196 shares of company stock valued at $4,367,869. 3.00% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation Stock Performance

Knight-Swift Transportation stock opened at $52.21 on Friday. Knight-Swift Transportation Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a fifty day moving average price of $51.99 and a two-hundred day moving average price of $50.75. The firm has a market capitalization of $8.44 billion, a P/E ratio of 77.93, a P/E/G ratio of 1.43 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by ($0.03). The firm 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%. The company’s revenue for the quarter was up 18.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.49 earnings per share. As a group, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.1 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be given 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 1.23%. Knight-Swift Transportation’s payout ratio is 95.52%.

Knight-Swift Transportation Company 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.