First Eagle Investment Management LLC Buys 1,100 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

First Eagle Investment Management LLC raised its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 21.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,335 shares of the transportation company’s stock after purchasing an additional 1,100 shares during the quarter. First Eagle Investment Management LLC’s holdings in Knight-Swift Transportation were worth $316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of KNX. Wellington Management Group LLP grew its stake 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 valued at $906,016,000 after purchasing an additional 2,137,296 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after acquiring an additional 1,176,069 shares during the period. Victory Capital Management Inc. boosted its stake in shares of Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after acquiring an additional 744,412 shares during the period. Balyasny Asset Management L.P. boosted its stake in shares of Knight-Swift Transportation by 225.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after acquiring an additional 599,193 shares during the period. Finally, Nuance Investments LLC bought a new position in shares of Knight-Swift Transportation during the 2nd quarter worth approximately $26,581,000. 88.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on KNX shares. UBS Group reduced their target price on 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. StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. Raymond James reduced their target price on Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. Wolfe Research downgraded Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Finally, Evercore ISI dropped their price target on Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.14.

Insider Transactions at Knight-Swift Transportation

In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $53.32, for a total transaction of $133,300.00. Following the completion of the transaction, the director now owns 21,833 shares of the company’s stock, valued at approximately $1,164,135.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Garnreiter sold 2,000 shares of the business’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 transaction, the director now directly owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,196 shares of company stock valued at $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX opened at $52.21 on Friday. The stock has a market capitalization of $8.44 billion, a PE ratio of 77.93, a P/E/G ratio of 1.43 and a beta of 0.93. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88. The business has a fifty day moving average price of $51.99 and a two-hundred day moving average price of $50.72. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.03). The company had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.83 billion. Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. Knight-Swift Transportation’s revenue was up 18.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 earnings per share. As a group, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

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