BNP PARIBAS ASSET MANAGEMENT Holding S.A. Increases Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,003 shares of the transportation company’s stock after acquiring an additional 1,322 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Knight-Swift Transportation were worth $2,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the business. Rise Advisors LLC purchased a new position in Knight-Swift Transportation during the first quarter valued at approximately $25,000. GAMMA Investing LLC raised 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 lifted its stake in shares of Knight-Swift Transportation by 3,461.9% during the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after purchasing an additional 727 shares during the last quarter. First Horizon Advisors Inc. boosted its position in Knight-Swift Transportation by 61.7% during the fourth quarter. First Horizon Advisors Inc. now owns 742 shares of the transportation company’s stock valued at $43,000 after purchasing an additional 283 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in Knight-Swift Transportation by 50.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after purchasing an additional 343 shares during the last quarter. Hedge funds and other institutional investors own 88.77% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KNX shares. TD Cowen raised their price target on shares of Knight-Swift Transportation from $47.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, July 25th. UBS Group cut their price target on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Wolfe Research lowered Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 11th. Evercore ISI lowered their price objective on Knight-Swift Transportation from $55.00 to $53.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Finally, Bank of America increased their price target on Knight-Swift Transportation from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $57.14.

Insider Transactions at Knight-Swift Transportation

In related news, Chairman Kevin P. Knight sold 30,000 shares of Knight-Swift Transportation stock in a transaction that occurred on 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 transaction, the chairman now directly owns 1,467,360 shares in the company, valued at $73,852,228.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total transaction of $101,140.00. Following the sale, the director now owns 17,648 shares in the company, valued at $892,459.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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 completion of the transaction, the chairman now 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. Insiders have sold 85,196 shares of company stock worth $4,367,869 over the last quarter. 3.00% of the stock is currently owned by insiders.

Knight-Swift Transportation Price Performance

Shares of NYSE KNX opened at $52.38 on Monday. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99. The business’s 50 day moving average price is $51.22 and its 200 day moving average price is $51.25. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The firm has a market cap of $8.47 billion, a P/E ratio of 78.18, a P/E/G ratio of 1.42 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.03). Knight-Swift Transportation had a net margin of 0.88% and a return on equity of 1.98%. The business had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same period last year, the company earned $0.49 earnings per share. The firm’s revenue was up 18.9% on a year-over-year basis. On average, sell-side analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.12 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be paid 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 1.22%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

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.