Renaissance Technologies LLC Purchases 34,500 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Renaissance Technologies LLC raised its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 66.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 86,727 shares of the transportation company’s stock after acquiring an additional 34,500 shares during the quarter. Renaissance Technologies LLC owned about 0.05% of Knight-Swift Transportation worth $4,329,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in KNX. UBS Group AG raised its holdings in shares of Knight-Swift Transportation by 4.4% during the fourth quarter. UBS Group AG now owns 118,620 shares of the transportation company’s stock valued at $6,838,000 after purchasing an additional 5,033 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Knight-Swift Transportation by 5.2% in the 4th quarter. Wells Fargo & Company MN now owns 161,243 shares of the transportation company’s stock worth $9,296,000 after acquiring an additional 7,904 shares during the last quarter. US Bancorp DE raised its holdings in shares of Knight-Swift Transportation by 8.8% in the 4th quarter. US Bancorp DE now owns 20,872 shares of the transportation company’s stock worth $1,203,000 after acquiring an additional 1,683 shares during the last quarter. Orion Portfolio Solutions LLC acquired a new stake in shares of Knight-Swift Transportation in the 4th quarter worth about $584,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in shares of Knight-Swift Transportation by 5.0% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 46,056 shares of the transportation company’s stock worth $2,655,000 after acquiring an additional 2,196 shares during the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $54.05 on Friday. The company’s 50 day simple moving average is $52.24 and its two-hundred day simple 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. The stock has a market capitalization of $8.75 billion, a PE ratio of 80.67, a P/E/G ratio of 1.47 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.

Knight-Swift Transportation (NYSE:KNX) last issued 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 analysts’ expectations of $1.83 billion. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. Knight-Swift Transportation’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 business earned $0.49 EPS. Analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s payout ratio is 95.52%.

Analysts Set New Price Targets

KNX has been the subject of several analyst reports. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. 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. TD Cowen increased their price objective on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Knight-Swift Transportation in a research note on Friday, June 7th. They issued an “overweight” rating and a $56.00 price objective for the company. Finally, Raymond James decreased their price objective on shares of Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating for the company in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus rating of “Moderate Buy” and an average price target of $57.00.

Insider Activity

In other news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $50.33, for a total transaction of $1,509,900.00. Following the sale, the chairman now owns 1,467,360 shares of the company’s stock, valued at approximately $73,852,228.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Chairman Kevin P. Knight sold 45,000 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $51.53, for a total transaction of $2,318,850.00. Following the sale, the chairman now 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Kevin P. Knight sold 30,000 shares of the business’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 in the company, valued at approximately $73,852,228.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 85,196 shares of company stock valued at $4,367,869. Corporate insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Company 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.