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

Paloma Partners Management Co raised its holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 681.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,000 shares of the transportation company’s stock after buying an additional 52,323 shares during the quarter. Paloma Partners Management Co’s holdings in Knight-Swift Transportation were worth $3,237,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in shares of Knight-Swift Transportation by 6.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,241 shares of the transportation company’s stock valued at $4,691,000 after acquiring an additional 5,498 shares during the period. Comerica Bank increased its holdings in Knight-Swift Transportation by 8.0% in the 1st quarter. Comerica Bank now owns 98,797 shares of the transportation company’s stock worth $5,436,000 after buying an additional 7,337 shares during the period. Swedbank AB purchased a new position in Knight-Swift Transportation during the 1st quarter worth approximately $3,162,000. Boston Partners lifted its stake in Knight-Swift Transportation by 86.2% during the 1st quarter. Boston Partners now owns 32,971 shares of the transportation company’s stock valued at $1,814,000 after acquiring an additional 15,268 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Knight-Swift Transportation by 50.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $59.36 on Monday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $9.61 billion, a PE ratio of 258.10, a P/E/G ratio of 2.03 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 company has a fifty day moving average of $54.25 and a two-hundred day moving average of $51.71.

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

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be given a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.08%. Knight-Swift Transportation’s dividend payout ratio (DPR) is presently 278.27%.

Insider Transactions at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the firm’s 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the company’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 of the company’s stock, valued at $1,754,625.90. The trade was a 1.60 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

KNX has been the subject of several recent research reports. Raymond James raised their target price on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Monday, October 14th. Morgan Stanley reduced their price objective on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Susquehanna boosted their price objective on Knight-Swift Transportation from $45.00 to $48.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. The Goldman Sachs Group dropped their target price on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Evercore ISI boosted their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Knight-Swift Transportation has an average rating of “Hold” and an average price target of $56.38.

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.