Highland Capital Management LLC Has $2.07 Million Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Highland Capital Management LLC cut its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNXGet Rating) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,614 shares of the transportation company’s stock after selling 250 shares during the period. Highland Capital Management LLC’s holdings in Knight-Swift Transportation were worth $2,065,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Nissay Asset Management Corp Japan ADV boosted its position in Knight-Swift Transportation by 1.2% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 19,400 shares of the transportation company’s stock worth $1,182,000 after buying an additional 234 shares during the period. Parkside Financial Bank & Trust boosted its position in Knight-Swift Transportation by 336.0% during the 4th quarter. Parkside Financial Bank & Trust now owns 436 shares of the transportation company’s stock worth $27,000 after buying an additional 336 shares during the period. Van ECK Associates Corp boosted its position in Knight-Swift Transportation by 44.7% during the 1st quarter. Van ECK Associates Corp now owns 1,104 shares of the transportation company’s stock worth $56,000 after buying an additional 341 shares during the period. Comerica Bank boosted its position in Knight-Swift Transportation by 0.5% during the 1st quarter. Comerica Bank now owns 78,227 shares of the transportation company’s stock worth $3,768,000 after buying an additional 363 shares during the period. Finally, Verdence Capital Advisors LLC boosted its position in Knight-Swift Transportation by 6.5% during the 1st quarter. Verdence Capital Advisors LLC now owns 6,558 shares of the transportation company’s stock worth $331,000 after buying an additional 398 shares during the period. 89.64% of the stock is currently owned by institutional investors and hedge funds.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $47.73 on Friday. The company has a fifty day simple moving average of $52.05 and a 200 day simple moving average of $49.77. Knight-Swift Transportation Holdings Inc. has a 12-month low of $42.50 and a 12-month high of $62.29. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.22. The company has a market cap of $7.67 billion, a P/E ratio of 8.92, a PEG ratio of 0.60 and a beta of 1.26.

Knight-Swift Transportation (NYSE:KNXGet Rating) last posted its quarterly earnings results on Wednesday, July 20th. The transportation company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.06. Knight-Swift Transportation had a net margin of 12.26% and a return on equity of 14.44%. The business had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.85 billion. During the same quarter last year, the firm posted $0.98 EPS. Knight-Swift Transportation’s revenue was up 49.1% compared to the same quarter last year. Sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 5.39 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 26th. Shareholders of record on Monday, September 5th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date is Thursday, September 1st. Knight-Swift Transportation’s dividend payout ratio is 8.97%.

Analysts Set New Price Targets

Several research analysts have issued reports on KNX shares. Barclays lowered their price target on shares of Knight-Swift Transportation from $60.00 to $58.00 and set an “overweight” rating for the company in a report on Tuesday, July 12th. Wells Fargo & Company lowered their price target on shares of Knight-Swift Transportation from $62.00 to $58.00 and set an “overweight” rating for the company in a report on Friday, July 15th. Evercore ISI upgraded shares of Knight-Swift Transportation from an “in-line” rating to an “outperform” rating and set a $35.00 price target for the company in a report on Tuesday, July 12th. Susquehanna Bancshares raised their price target on shares of Knight-Swift Transportation from $64.00 to $65.00 and gave the stock a “positive” rating in a report on Thursday, July 21st. Finally, Credit Suisse Group lowered their price target on shares of Knight-Swift Transportation to $66.00 in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $60.94.

Insiders Place Their Bets

In other Knight-Swift Transportation news, EVP James E. Jr. Updike sold 2,400 shares of Knight-Swift Transportation stock in a transaction on Friday, July 29th. The shares were sold at an average price of $55.18, for a total transaction of $132,432.00. Following the transaction, the executive vice president now directly owns 19,944 shares of the company’s stock, valued at approximately $1,100,509.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.10% of the company’s stock.

Knight-Swift Transportation Profile

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Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation services in the United States, Mexico, and Canada. The company operates through four segments: Trucking, Logistics, Less-than-truckload (LTL), and Intermodal. Its trucking services include irregular route, dedicated, refrigerated, flatbed, expedited, dry van, drayage, and cross-border transportation of various products, goods, and materials.

See Also

Institutional Ownership by Quarter for Knight-Swift Transportation (NYSE:KNX)

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