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

State Street Corp decreased its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,608,407 shares of the transportation company’s stock after selling 7,988 shares during the quarter. State Street Corp owned approximately 3.46% of Knight-Swift Transportation worth $302,574,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services LLC increased 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 valued at $1,230,000 after purchasing an additional 196 shares during the period. United Services Automobile Association grew its position in shares of Knight-Swift Transportation by 1.6% in the 2nd quarter. United Services Automobile Association now owns 12,770 shares of the transportation company’s stock worth $637,000 after buying an additional 199 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after buying an additional 200 shares during the period. MQS Management LLC raised its holdings in shares of Knight-Swift Transportation by 3.7% during the second quarter. MQS Management LLC now owns 6,981 shares of the transportation company’s stock valued at $348,000 after acquiring an additional 250 shares in the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Knight-Swift Transportation by 34.2% in the third quarter. Venturi Wealth Management LLC now owns 1,145 shares of the transportation company’s stock worth $62,000 after acquiring an additional 292 shares during the period. 88.77% of the stock is owned by institutional investors.

Knight-Swift Transportation Stock Performance

Shares of KNX opened at $56.53 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The business’s fifty day simple moving average is $54.64 and its two-hundred day simple moving average is $52.07. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 245.78, a P/E/G ratio of 1.90 and a beta of 0.96.

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

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.13%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.26%.

Analysts Set New Price Targets

KNX has been the subject of several research reports. TD Cowen upped their price objective on shares of Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. The Goldman Sachs Group lowered their price objective 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. Susquehanna upped their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Stifel Nicolaus upped their price target on 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, Citigroup cut shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price on the stock. in a report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.38.

Insider Buying and Selling

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

About Knight-Swift Transportation

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.