Texas Permanent School Fund Corp Sells 20,447 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Texas Permanent School Fund Corp reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 14.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,781 shares of the transportation company’s stock after selling 20,447 shares during the period. Texas Permanent School Fund Corp owned about 0.07% of Knight-Swift Transportation worth $6,029,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in Knight-Swift Transportation during the 4th quarter worth approximately $201,232,000. Wellington Management Group LLP grew its position in Knight-Swift Transportation by 15.7% in the fourth quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock valued at $906,016,000 after purchasing an additional 2,137,296 shares in the last quarter. Victory Capital Management Inc. increased its stake in Knight-Swift Transportation by 10.9% in the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock valued at $379,133,000 after buying an additional 744,412 shares during the last quarter. Balyasny Asset Management L.P. lifted its position in Knight-Swift Transportation by 225.2% during the 4th quarter. Balyasny Asset Management L.P. now owns 865,235 shares of the transportation company’s stock worth $49,881,000 after buying an additional 599,193 shares in the last quarter. Finally, Fiera Capital Corp boosted its stake in shares of Knight-Swift Transportation by 4,385.6% during the 4th quarter. Fiera Capital Corp now owns 391,371 shares of the transportation company’s stock worth $22,563,000 after buying an additional 382,646 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $50.18 on Thursday. The stock has a 50 day simple moving average of $51.54 and a 200 day simple moving average of $50.89. The stock has a market cap of $8.11 billion, a P/E ratio of 74.90, a PEG ratio of 1.37 and a beta of 0.93. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24.

Knight-Swift Transportation (NYSE:KNX) last posted its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.03). Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The firm had revenue of $1.85 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the prior year, the business posted $0.49 EPS. The firm’s quarterly revenue was up 18.9% compared to the same quarter last year. Research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.28%. Knight-Swift Transportation’s payout ratio is presently 95.52%.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 30,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $50.33, for a total value of $1,509,900.00. Following the completion of the sale, the chairman now directly owns 1,467,360 shares in the company, valued at $73,852,228.80. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $51.53, for a total value of $2,318,850.00. Following the transaction, the chairman now owns 1,422,360 shares in the company, valued at $73,294,210.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Kevin P. Knight sold 30,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the sale, the chairman now directly owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 85,196 shares of company stock valued at $4,367,869. 3.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on KNX shares. UBS Group dropped their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Wells Fargo & Company started coverage on Knight-Swift Transportation in a report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price objective for the company. TD Cowen boosted their target price on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Barclays increased their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the company an “overweight” rating in a research note on Tuesday, August 20th. Finally, Raymond James lowered their price objective on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and an average price target of $57.14.

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.