Engineers Gate Manager LP acquired a new stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 7,300 shares of the transportation company’s stock, valued at approximately $304,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNX. Wellington Management Group LLP increased its holdings in shares of Knight-Swift Transportation by 967.6% during the first quarter. Wellington Management Group LLP now owns 6,548,120 shares of the transportation company’s stock valued at $214,779,000 after acquiring an additional 5,934,789 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Knight-Swift Transportation by 78.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,659,647 shares of the transportation company’s stock worth $87,236,000 after buying an additional 1,170,061 shares in the last quarter. Columbus Circle Investors bought a new stake in Knight-Swift Transportation during the second quarter worth $29,084,000. Man Group plc grew its holdings in Knight-Swift Transportation by 1,628.3% during the second quarter. Man Group plc now owns 556,717 shares of the transportation company’s stock worth $23,221,000 after buying an additional 524,506 shares in the last quarter. Finally, Scopus Asset Management L.P. bought a new stake in Knight-Swift Transportation during the first quarter worth $16,203,000. Hedge funds and other institutional investors own 84.35% of the company’s stock.
Shares of NYSE KNX opened at $42.03 on Friday. Knight-Swift Transportation Holdings Inc has a one year low of $27.54 and a one year high of $47.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.85 and a quick ratio of 0.85. The business’s fifty day moving average price is $44.39 and its 200-day moving average price is $39.90. The stock has a market capitalization of $7.15 billion, a PE ratio of 25.02, a P/E/G ratio of 1.32 and a beta of 1.25.
Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, July 22nd. The transportation company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.22. Knight-Swift Transportation had a return on equity of 6.14% and a net margin of 6.28%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.08 billion. As a group, equities analysts expect that Knight-Swift Transportation Holdings Inc will post 2.2 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Friday, September 4th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, September 3rd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.76%. Knight-Swift Transportation’s payout ratio is 14.75%.
In related news, EVP Timothy Sean Harrington sold 2,690 shares of the business’s stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $45.13, for a total transaction of $121,399.70. Following the sale, the executive vice president now directly owns 1,199 shares in the company, valued at approximately $54,110.87. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 100,000 shares of the business’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $46.06, for a total value of $4,606,000.00. Following the sale, the chairman now owns 3,317 shares in the company, valued at $152,781.02. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,922 shares of company stock worth $9,229,179. 4.30% of the stock is currently owned by corporate insiders.
Several equities research analysts recently issued reports on KNX shares. Deutsche Bank upped their price target on Knight-Swift Transportation from $45.00 to $59.00 in a report on Thursday, July 23rd. Loop Capital upped their price target on Knight-Swift Transportation from $46.00 to $49.00 in a report on Tuesday, June 23rd. KeyCorp upped their price target on Knight-Swift Transportation from $47.00 to $52.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Credit Suisse Group boosted their price objective on Knight-Swift Transportation from $41.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, July 23rd. Finally, Barclays boosted their price objective on Knight-Swift Transportation from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 15th. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $49.12.
Knight-Swift Transportation Profile
Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.
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