EverSource Wealth Advisors LLC Sells 2,341 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

EverSource Wealth Advisors LLC decreased its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 5.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,011 shares of the transportation company’s stock after selling 2,341 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Knight-Swift Transportation were worth $2,014,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its position in shares of Knight-Swift Transportation by 583.0% in the 4th quarter. Tower Research Capital LLC TRC now owns 33,165 shares of the transportation company’s stock valued at $1,912,000 after acquiring an additional 28,309 shares during the period. Wellington Management Group LLP raised its holdings in Knight-Swift Transportation by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after purchasing an additional 2,137,296 shares during the period. V Square Quantitative Management LLC boosted its position in shares of Knight-Swift Transportation by 63.8% during the fourth quarter. V Square Quantitative Management LLC now owns 1,697 shares of the transportation company’s stock worth $98,000 after purchasing an additional 661 shares in the last quarter. Duality Advisers LP boosted its position in shares of Knight-Swift Transportation by 1,686.4% during the first quarter. Duality Advisers LP now owns 66,098 shares of the transportation company’s stock worth $3,637,000 after purchasing an additional 62,398 shares in the last quarter. Finally, Alberta Investment Management Corp acquired a new position in shares of Knight-Swift Transportation in the 4th quarter valued at $2,240,000. Institutional investors own 88.77% of the company’s stock.

Insider Transactions at Knight-Swift Transportation

In related news, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the transaction, the director now directly owns 17,648 shares in the company, valued at $892,459.36. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the sale, the director now directly owns 21,833 shares in the company, valued at approximately $1,164,135.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael Garnreiter sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now directly owns 17,648 shares in the company, valued at approximately $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 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

KNX has been the topic of several research analyst reports. Raymond James dropped their price objective on Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. Wolfe Research lowered Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. TD Cowen lifted their price objective on Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” 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. Finally, Evercore ISI dropped 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. One analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.14.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $52.21 on Monday. The firm has a market cap of $8.44 billion, a PE ratio of 77.93, a P/E/G ratio of 1.43 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The company’s fifty day simple moving average is $51.99 and its 200-day simple moving average is $50.68. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate 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 return on equity of 1.98% and a net margin of 0.88%. The company’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same period last year, the firm earned $0.49 earnings per share. Equities research analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.1 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio (DPR) 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.