The Manufacturers Life Insurance Company Lowers Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

The Manufacturers Life Insurance Company trimmed its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 140,210 shares of the transportation company’s stock after selling 425 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.09% of Knight-Swift Transportation worth $6,999,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KNX. Millennium Management LLC raised its holdings in Knight-Swift Transportation by 309.7% during the second quarter. Millennium Management LLC now owns 1,068,323 shares of the transportation company’s stock valued at $53,331,000 after acquiring an additional 807,572 shares during the period. MBB Public Markets I LLC bought a new position in Knight-Swift Transportation in the 2nd quarter worth approximately $349,000. Dark Forest Capital Management LP bought a new stake in shares of Knight-Swift Transportation during the second quarter valued at approximately $206,000. Encompass Capital Advisors LLC purchased a new position in shares of Knight-Swift Transportation in the second quarter worth $10,483,000. Finally, APG Asset Management N.V. boosted its position in shares of Knight-Swift Transportation by 175.5% during the second quarter. APG Asset Management N.V. now owns 20,251 shares of the transportation company’s stock worth $943,000 after acquiring an additional 12,900 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Analyst Upgrades and Downgrades

KNX has been the topic of several research reports. Susquehanna lifted their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. UBS Group decreased their price objective on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. JPMorgan Chase & Co. upped their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Finally, TD Cowen lifted their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and an average target price of $56.71.

Knight-Swift Transportation Stock Down 3.1 %

Shares of NYSE KNX opened at $49.85 on Friday. The company has a market cap of $8.07 billion, a P/E ratio of 74.40, a PEG ratio of 1.44 and a beta of 0.92. The firm has a 50-day simple moving average of $52.40 and a two-hundred day simple moving average of $50.54. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year 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.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings data 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 business had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. Knight-Swift Transportation’s revenue was up 18.9% compared to the same quarter last year. Research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.09 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business 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. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a yield of 1.28%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 95.52%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation 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 of the company’s stock, valued at approximately $73,294,210.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the transaction, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Kevin P. Knight sold 30,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock valued at $4,367,869 in the last three months. Company insiders own 3.00% of the company’s stock.

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.