Massachusetts Financial Services Co. MA Trims Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Massachusetts Financial Services Co. MA lowered its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,898,369 shares of the transportation company’s stock after selling 42,123 shares during the period. Massachusetts Financial Services Co. MA owned 1.79% of Knight-Swift Transportation worth $144,687,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Rise Advisors LLC bought a new stake in Knight-Swift Transportation during the first quarter worth about $25,000. GAMMA Investing LLC boosted its position in shares of Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after purchasing an additional 253 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of 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 position 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 valued at $45,000 after buying an additional 200 shares in the last quarter. Finally, Blue Trust Inc. raised its stake in Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. TD Cowen increased their target price on Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. UBS Group reduced their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a research note on Tuesday, July 9th. Raymond James dropped their target price on shares of 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. Barclays boosted their price objective on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. One research 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, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.14.

Knight-Swift Transportation Trading Up 0.4 %

Knight-Swift Transportation stock opened at $52.68 on Thursday. The business has a 50-day simple moving average of $51.86 and a two-hundred day simple moving average of $50.75. 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 quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market cap 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.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results on Wednesday, July 24th. The transportation company reported $0.24 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 period in the prior year, the company posted $0.49 earnings per share. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.1 EPS for the current year.

Knight-Swift Transportation Announces Dividend

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 $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s payout ratio is 95.52%.

Insider Activity

In related news, EVP Michael K. Liu sold 5,696 shares of the stock in a transaction that occurred on 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the transaction, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael K. Liu sold 5,696 shares of Knight-Swift Transportation stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $53.49, for a total value of $304,679.04. The disclosure for this sale can be found here. Insiders have sold a total of 85,196 shares of company stock valued at $4,367,869 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

About Knight-Swift Transportation

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.