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

Massachusetts Financial Services Co. MA reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 4.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,773,861 shares of the transportation company’s stock after selling 124,508 shares during the period. Massachusetts Financial Services Co. MA owned about 1.71% of Knight-Swift Transportation worth $149,650,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC lifted its holdings in Knight-Swift Transportation by 0.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 24,633 shares of the transportation company’s stock worth $1,230,000 after buying an additional 196 shares during the last quarter. United Services Automobile Association lifted its stake in Knight-Swift Transportation by 1.6% during the second quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock worth $637,000 after purchasing an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. lifted its stake in Knight-Swift Transportation by 28.6% during the second 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. MQS Management LLC increased its stake in Knight-Swift Transportation by 3.7% in the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock valued at $348,000 after purchasing an additional 250 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Knight-Swift Transportation by 34.2% during the third quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock worth $62,000 after purchasing an additional 292 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Up 2.5 %

Shares of NYSE:KNX opened at $57.62 on Friday. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 250.53, a PEG ratio of 1.92 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $60.99. The firm’s 50-day simple moving average is $53.59 and its 200-day simple moving average is $51.36. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. As a group, equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.11%. Knight-Swift Transportation’s payout ratio is currently 278.27%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered their target price on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Evercore ISI raised their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a report on Thursday, October 24th. Barclays boosted their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. TD Cowen raised their price target on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Citigroup lowered Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target on the stock. in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $56.38.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the sale, the director now directly owns 30,729 shares in the company, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation 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.