Public Employees Retirement System of Ohio Trims Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Public Employees Retirement System of Ohio trimmed its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 12.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,359 shares of the transportation company’s stock after selling 9,046 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Knight-Swift Transportation were worth $3,310,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. boosted its stake in shares of Knight-Swift Transportation by 168.3% during the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 579 shares in the last quarter. Raymond James & Associates lifted its holdings in Knight-Swift Transportation by 126.5% during the second quarter. Raymond James & Associates now owns 74,138 shares of the transportation company’s stock worth $3,701,000 after buying an additional 41,409 shares during the period. Nisa Investment Advisors LLC boosted its position in Knight-Swift Transportation by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 25,376 shares of the transportation company’s stock valued at $1,267,000 after acquiring an additional 325 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in shares of Knight-Swift Transportation in the 2nd quarter valued at $256,000. Finally, Ceredex Value Advisors LLC raised its position in shares of Knight-Swift Transportation by 3.6% in the 2nd quarter. Ceredex Value Advisors LLC now owns 1,637,206 shares of the transportation company’s stock worth $81,729,000 after acquiring an additional 57,493 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on KNX. Evercore ISI raised their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Citigroup downgraded shares of Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price objective on the stock. in a research report on Tuesday, November 12th. The Goldman Sachs Group increased their target price on shares of Knight-Swift Transportation from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday, December 12th. TD Cowen lifted their price target 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. Finally, Susquehanna increased 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation presently has a consensus rating of “Hold” and an average target price of $56.81.

Knight-Swift Transportation Stock Performance

Shares of NYSE KNX opened at $54.92 on Tuesday. The company has a 50 day simple moving average of $55.10 and a two-hundred day simple moving average of $52.38. The stock has a market cap of $8.89 billion, a price-to-earnings ratio of 238.79, a PEG ratio of 1.89 and a beta of 0.96. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) 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 the consensus estimate 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 quarterly revenue was down 7.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.41 earnings per share. As a group, 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 business also recently declared 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. This represents a $0.64 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, December 6th. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, 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 transaction, the director now owns 30,729 shares in the company, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 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 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.