Primecap Management Co. CA Increases Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Primecap Management Co. CA increased its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 183,200 shares of the transportation company’s stock after buying an additional 12,500 shares during the period. Primecap Management Co. CA owned about 0.11% of Knight-Swift Transportation worth $9,145,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in KNX. Rise Advisors LLC acquired a new position in Knight-Swift Transportation during the first quarter worth about $25,000. GAMMA Investing LLC raised its position in shares of Knight-Swift Transportation by 67.5% during 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 during the last quarter. Versant Capital Management Inc raised its position in shares of Knight-Swift Transportation by 3,461.9% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Knight-Swift Transportation by 28.6% in 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. grew its holdings in Knight-Swift Transportation by 168.3% during the 2nd 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. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of the firm’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 transaction, the chairman now directly 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 Securities & Exchange Commission, which is available at the SEC website. In other news, Chairman Kevin P. Knight sold 45,000 shares of the 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 sale, the chairman now owns 1,422,360 shares in the company, valued at $73,294,210.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael K. Liu sold 5,696 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was 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. In the last three months, insiders sold 85,196 shares of company stock valued at $4,367,869. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on KNX shares. Bank of America upped their price objective on Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Wells Fargo & Company assumed coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They issued an “overweight” rating and a $56.00 target price on the stock. Raymond James decreased their price target 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. TD Cowen boosted their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Finally, Wolfe Research downgraded shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.14.

Knight-Swift Transportation Price Performance

Shares of Knight-Swift Transportation stock opened at $52.68 on Thursday. The stock has a market capitalization of $8.51 billion, a P/E ratio of 78.63, a PEG ratio of 1.42 and a beta of 0.93. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average price is $51.86 and its 200 day moving average price is $50.75. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its 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 return on equity of 1.98% and a net margin of 0.88%. The firm 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 posted $0.49 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. 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.