IFM Investors Pty Ltd Reduces Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

IFM Investors Pty Ltd cut its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 23.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 24,907 shares of the transportation company’s stock after selling 7,555 shares during the quarter. IFM Investors Pty Ltd’s holdings in Knight-Swift Transportation were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of KNX. State of Michigan Retirement System boosted its position in shares of Knight-Swift Transportation by 1.9% during the first quarter. State of Michigan Retirement System now owns 47,731 shares of the transportation company’s stock valued at $2,626,000 after buying an additional 900 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Knight-Swift Transportation by 0.6% during the first quarter. Retirement Systems of Alabama now owns 391,491 shares of the transportation company’s stock valued at $21,540,000 after buying an additional 2,175 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Knight-Swift Transportation by 9.3% during the first quarter. BNP Paribas Financial Markets now owns 96,842 shares of the transportation company’s stock valued at $5,328,000 after buying an additional 8,238 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in Knight-Swift Transportation by 1.5% in the first quarter. Janney Montgomery Scott LLC now owns 22,706 shares of the transportation company’s stock valued at $1,249,000 after acquiring an additional 326 shares during the period. Finally, Tokio Marine Asset Management Co. Ltd. lifted its holdings in Knight-Swift Transportation by 17.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,515 shares of the transportation company’s stock valued at $303,000 after acquiring an additional 823 shares during the period. 88.77% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

KNX has been the topic of a number of recent research reports. Citigroup initiated coverage on Knight-Swift Transportation in a report on Wednesday, October 9th. They issued a “neutral” rating and a $55.00 target price on the stock. TD Cowen increased their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the company a “buy” rating in a report on Thursday. UBS Group lowered 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. The Goldman Sachs Group lowered their target price on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Evercore ISI increased their target price on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.94.

Knight-Swift Transportation Stock Up 1.2 %

NYSE KNX opened at $52.55 on Monday. The stock’s 50 day moving average is $52.22 and its 200 day moving average is $50.35. 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 Holdings Inc. has a 12 month low of $45.55 and a 12 month high of $60.99. The stock has a market cap of $8.49 billion, a PE ratio of 78.43, a P/E/G ratio of 1.74 and a beta of 0.92.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.98% and a net margin of 0.88%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the firm earned $0.41 EPS. The firm’s revenue was down 7.1% compared to the same quarter last year. Research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.06 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Friday, September 6th. Knight-Swift Transportation’s payout ratio is 95.52%.

Insiders Place Their Bets

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction that occurred 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 sale, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Knight-Swift Transportation news, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the sale, the director now owns 21,833 shares of the company’s stock, valued at $1,164,135.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 1,422,360 shares in the company, valued at approximately $73,294,210.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 85,196 shares of company stock valued at $4,367,869 in the last quarter. 3.00% of the stock is currently owned by insiders.

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.