Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Position Increased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1,728.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,330,934 shares of the transportation company’s stock after buying an additional 1,258,157 shares during the quarter. Thrivent Financial for Lutherans owned about 0.82% of Knight-Swift Transportation worth $66,440,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Knight-Swift Transportation during the first quarter worth about $25,000. GAMMA Investing LLC lifted its position 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 purchasing an additional 253 shares during the last quarter. Versant Capital Management Inc boosted its stake in 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 valued at $37,000 after purchasing an additional 727 shares during the period. Brown Brothers Harriman & Co. grew its position 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 worth $45,000 after purchasing an additional 200 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in shares of Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 579 shares during the period. 88.77% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related 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 value of $2,318,850.00. Following the completion of the transaction, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction that occurred 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 sale, the director now directly owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of the stock in a transaction that occurred on 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 directly owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

KNX has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Barclays boosted their price target on Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Raymond James lowered their price target on Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. Bank of America lifted their price objective on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. Finally, Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. One equities 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.14.

Knight-Swift Transportation Price Performance

NYSE:KNX opened at $52.21 on Friday. 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 stock has a market cap of $8.44 billion, a P/E ratio of 77.93, a PEG ratio of 1.43 and a beta of 0.93. The company has a fifty day moving average price of $51.99 and a 200 day moving average price of $50.72. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year 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 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 for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the company posted $0.49 EPS. The firm’s quarterly revenue was up 18.9% on a year-over-year basis. Analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

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