Primecap Management Co. CA Raises Stock Holdings in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Primecap Management Co. CA boosted its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 7.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 183,200 shares of the transportation company’s stock after purchasing an additional 12,500 shares during the quarter. Primecap Management Co. CA’s holdings in Knight-Swift Transportation were worth $9,145,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Rise Advisors LLC bought a new position in shares of Knight-Swift Transportation during the first quarter worth about $25,000. GAMMA Investing LLC grew its position in shares of Knight-Swift Transportation by 67.5% in the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock worth $35,000 after acquiring an additional 253 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after acquiring an additional 727 shares in the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 200 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in Knight-Swift Transportation by 50.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock worth $51,000 after purchasing an additional 343 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on KNX shares. Wells Fargo & Company initiated coverage on shares of Knight-Swift Transportation in a research note on Friday, June 7th. They set an “overweight” rating and a $56.00 target price for the company. Wolfe Research lowered shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. Raymond James cut their target price on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 25th. UBS Group dropped their price target on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a research report on Tuesday, July 9th. Finally, JPMorgan Chase & Co. boosted their price objective on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, July 25th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Knight-Swift Transportation currently has an average rating of “Moderate Buy” and a consensus target price of $57.14.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $52.68 on Thursday. Knight-Swift Transportation Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The firm has a market capitalization of $8.51 billion, a PE ratio of 78.63, a P/E/G ratio of 1.42 and a beta of 0.93. The company’s 50 day simple moving average is $51.86 and its 200 day simple moving average is $50.75. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.88.

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

Knight-Swift Transportation Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Investors of record on Friday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.21%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Insiders Place Their Bets

In other news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the transaction, the chairman now directly owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the firm’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 completion of the sale, the chairman now directly owns 1,467,360 shares in the company, valued at approximately $73,852,228.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin P. Knight sold 45,000 shares of the company’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total value of $2,318,850.00. Following the completion of the transaction, the chairman now owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The disclosure for this sale can be found here. In the last quarter, insiders have sold 85,196 shares of company stock worth $4,367,869. Company insiders own 3.00% of the company’s stock.

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.