Sei Investments Co. Increases Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Sei Investments Co. grew its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 9.5% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 321,463 shares of the transportation company’s stock after buying an additional 27,826 shares during the quarter. Sei Investments Co. owned 0.20% of Knight-Swift Transportation worth $16,047,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Knight-Swift Transportation by 15.7% during the 4th quarter. Wellington Management Group LLP now owns 15,715,804 shares of the transportation company’s stock worth $906,016,000 after buying an additional 2,137,296 shares during the last quarter. Vanguard Group Inc. raised its position in Knight-Swift Transportation by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 15,021,291 shares of the transportation company’s stock worth $865,977,000 after buying an additional 57,000 shares during the last quarter. Victory Capital Management Inc. raised its position in Knight-Swift Transportation by 10.9% during the 2nd quarter. Victory Capital Management Inc. now owns 7,594,817 shares of the transportation company’s stock worth $379,133,000 after buying an additional 744,412 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Knight-Swift Transportation by 27.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,431,299 shares of the transportation company’s stock worth $271,121,000 after buying an additional 1,176,069 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Knight-Swift Transportation by 7.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,607,802 shares of the transportation company’s stock worth $180,101,000 after buying an additional 235,858 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Price Performance

Knight-Swift Transportation stock opened at $52.72 on Friday. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99. The stock has a market capitalization of $8.52 billion, a P/E ratio of 78.69, a P/E/G ratio of 1.44 and a beta of 0.93. The firm’s 50-day moving average is $52.10 and its two-hundred day moving average is $50.65. 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 quarterly earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate 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 earned $0.49 earnings per share. Knight-Swift Transportation’s revenue for the quarter was up 18.9% on a year-over-year basis. Equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.21%. Knight-Swift Transportation’s dividend payout ratio is currently 95.52%.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the sale, the director now directly owns 17,648 shares of the company’s stock, valued at $892,459.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Chairman Kevin P. Knight sold 45,000 shares of the firm’s 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total transaction of $101,140.00. Following the completion of the sale, the director now directly owns 17,648 shares in the company, valued at $892,459.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 85,196 shares of company stock valued at $4,367,869. Insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KNX shares. UBS Group cut their price target on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. increased their price target on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Bank of America increased their price target on shares of Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Wells Fargo & Company started coverage on shares of Knight-Swift Transportation in a report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price target for the company. Finally, Raymond James cut their price target on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Knight-Swift Transportation presently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

About Knight-Swift Transportation

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.