Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 70.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 199,836 shares of the transportation company’s stock after selling 480,285 shares during the period. Truist Financial Corp owned about 0.12% of Knight-Swift Transportation worth $9,976,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rise Advisors LLC purchased a new position in shares of Knight-Swift Transportation during the 1st quarter valued at approximately $25,000. GAMMA Investing LLC lifted its stake in Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after buying an additional 253 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after buying an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 579 shares in the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Down 3.1 %

Knight-Swift Transportation stock opened at $49.85 on Friday. The firm has a market capitalization of $8.07 billion, a P/E ratio of 74.40, a P/E/G ratio of 1.44 and a beta of 0.92. The stock’s fifty day simple moving average is $52.40 and its 200-day simple moving average is $50.54. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $0.49 EPS. Knight-Swift Transportation’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, equities analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.09 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s dividend payout ratio is presently 95.52%.

Insider Activity

In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction 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 sale, the director now directly owns 17,648 shares in the company, valued at $892,459.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the completion of the sale, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Garnreiter sold 2,000 shares of the 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 completion of the transaction, the director now directly owns 17,648 shares in the company, valued at $892,459.36. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,196 shares of company stock worth $4,367,869. 3.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Barclays boosted their target price on Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Raymond James dropped their price objective on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. Evercore ISI reduced their price target on shares of Knight-Swift Transportation from $55.00 to $49.00 and set an “in-line” rating on the stock in a research report on Thursday. Susquehanna increased their price objective on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Finally, StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $56.71.

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.