Country Trust Bank Increases Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Country Trust Bank increased its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 1.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 599,849 shares of the transportation company’s stock after purchasing an additional 8,041 shares during the period. Country Trust Bank owned 0.37% of Knight-Swift Transportation worth $32,362,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP lifted its holdings in shares of 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 worth $906,016,000 after buying an additional 2,137,296 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Knight-Swift Transportation by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock valued at $865,977,000 after purchasing an additional 57,000 shares during the period. Victory Capital Management Inc. grew its position 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 valued at $379,133,000 after purchasing an additional 744,412 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Knight-Swift Transportation by 27.6% in the second quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after purchasing an additional 1,176,069 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Knight-Swift Transportation by 7.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock worth $180,101,000 after buying an additional 235,858 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Kevin P. Knight sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chairman now owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were 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 in the company, valued at $73,294,210.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the transaction, the chairman now owns 1,467,360 shares of the company’s stock, valued at $73,852,228.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock worth $4,367,869 in the last three months. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on KNX. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised their target price 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. Bank of America boosted their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. UBS Group lowered their price objective on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, Barclays increased their target price on Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $56.71.

Knight-Swift Transportation Stock Up 1.4 %

NYSE KNX opened at $51.72 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 1 year low of $45.55 and a 1 year high of $60.99. The stock has a market capitalization of $8.37 billion, a PE ratio of 77.20, a PEG ratio of 1.38 and a beta of 0.92. 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’s 50-day moving average is $52.38 and its 200 day moving average is $50.50.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate 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 company had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $0.49 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. Sell-side analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.09 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a $0.16 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. Knight-Swift Transportation’s dividend payout ratio (DPR) 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.