Dimensional Fund Advisors LP Purchases 1,176,069 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Dimensional Fund Advisors LP boosted its position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 27.6% during the second quarter, Holdings Channel reports. The fund owned 5,431,299 shares of the transportation company’s stock after acquiring an additional 1,176,069 shares during the period. Dimensional Fund Advisors LP’s holdings in Knight-Swift Transportation were worth $271,121,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Rise Advisors LLC bought a new position in shares of Knight-Swift Transportation during the first quarter valued at about $25,000. GAMMA Investing LLC grew its stake in shares of Knight-Swift Transportation by 67.5% during the first quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after buying an additional 253 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of Knight-Swift Transportation by 3,461.9% during the second quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock valued at $37,000 after buying an additional 727 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in shares of Knight-Swift Transportation by 28.6% during the second quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after buying an additional 200 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of 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 valued at $51,000 after buying an additional 343 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KNX shares. Raymond James reduced their price objective on Knight-Swift Transportation from $58.00 to $57.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 25th. Wells Fargo & Company assumed coverage on Knight-Swift Transportation in a research note on Friday, June 7th. They issued an “overweight” rating and a $56.00 target price on the stock. Wolfe Research cut Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 11th. TD Cowen raised their target price on Knight-Swift Transportation from $47.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, JPMorgan Chase & Co. raised their target price on Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. One 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $57.14.

Insider Activity

In related news, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation 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 transaction, the director now owns 17,648 shares in the company, valued at approximately $892,459.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael Garnreiter sold 2,000 shares of Knight-Swift Transportation 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 transaction, the director now owns 17,648 shares in the company, valued at approximately $892,459.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of Knight-Swift Transportation stock in a transaction on Friday, August 16th. The shares were sold at an average price of $53.32, for a total transaction of $133,300.00. Following the transaction, the director now owns 21,833 shares in the company, valued at approximately $1,164,135.56. The disclosure for this sale can be found here. Insiders sold a total of 85,196 shares of company stock valued at $4,367,869 in the last 90 days. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of KNX opened at $52.51 on Wednesday. Knight-Swift Transportation Holdings Inc. has a one year low of $45.55 and a one year high of $60.99. The company has a 50-day simple moving average of $51.79 and a two-hundred day simple moving average of $50.74. 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 firm has a market capitalization of $8.49 billion, a PE ratio of 78.37, a price-to-earnings-growth ratio of 1.42 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, July 24th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.83 billion. During the same period in the previous year, the firm earned $0.49 EPS. The company’s revenue was up 18.9% on a year-over-year basis. On average, analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.1 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Friday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date is Friday, September 6th. Knight-Swift Transportation’s payout ratio is 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.