State Street Corp Lowers Stock Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

State Street Corp trimmed its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,608,407 shares of the transportation company’s stock after selling 7,988 shares during the quarter. State Street Corp’s holdings in Knight-Swift Transportation were worth $302,574,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Knight-Swift Transportation during the 3rd quarter valued at approximately $3,729,000. Charles Schwab Investment Management Inc. boosted its position in shares of Knight-Swift Transportation by 2.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,146,948 shares of the transportation company’s stock worth $61,878,000 after acquiring an additional 26,346 shares during the last quarter. Paloma Partners Management Co grew its stake in Knight-Swift Transportation by 681.6% during the third quarter. Paloma Partners Management Co now owns 60,000 shares of the transportation company’s stock valued at $3,237,000 after acquiring an additional 52,323 shares in the last quarter. Wedge Capital Management L L P NC increased its holdings in Knight-Swift Transportation by 9.0% in the 2nd quarter. Wedge Capital Management L L P NC now owns 263,033 shares of the transportation company’s stock valued at $13,131,000 after acquiring an additional 21,689 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Knight-Swift Transportation by 116.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 130,794 shares of the transportation company’s stock worth $7,056,000 after purchasing an additional 70,276 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

A number of research firms recently commented on KNX. Morgan Stanley decreased their target price on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays increased their target price on Knight-Swift Transportation from $62.00 to $68.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. Raymond James boosted their price target on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. Stifel Nicolaus lifted their price objective on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the stock a “hold” rating in a research note on Friday, October 25th. Finally, Susquehanna boosted their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.38.

Knight-Swift Transportation Stock Performance

KNX stock opened at $56.53 on Wednesday. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 245.78, a PEG ratio of 1.90 and a beta of 0.96. Knight-Swift Transportation Holdings Inc. has a twelve month low of $45.55 and a twelve month high of $60.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31. The business’s fifty day simple moving average is $54.64 and its two-hundred day simple moving average is $52.07.

Knight-Swift Transportation (NYSE:KNX) last announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The firm’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 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, December 23rd. Investors of record on Friday, December 6th will be paid a $0.16 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.13%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 278.26%.

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.