Intech Investment Management LLC Acquires 15,632 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Intech Investment Management LLC increased its holdings in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 188.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,943 shares of the transportation company’s stock after purchasing an additional 15,632 shares during the period. Intech Investment Management LLC’s holdings in Knight-Swift Transportation were worth $1,195,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new stake in shares of Knight-Swift Transportation during the 4th quarter worth approximately $1,290,000. UBS Group AG increased its stake in Knight-Swift Transportation by 4.4% in 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 in the last quarter. Wells Fargo & Company MN raised its holdings in shares of Knight-Swift Transportation by 5.2% during the fourth quarter. Wells Fargo & Company MN now owns 161,243 shares of the transportation company’s stock valued at $9,296,000 after purchasing an additional 7,904 shares during the period. US Bancorp DE boosted its position in shares of Knight-Swift Transportation by 8.8% during the 4th quarter. US Bancorp DE now owns 20,872 shares of the transportation company’s stock worth $1,203,000 after purchasing an additional 1,683 shares in the last quarter. Finally, Orion Portfolio Solutions LLC acquired a new stake in shares of Knight-Swift Transportation in the 4th quarter valued at about $584,000. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Performance

NYSE KNX opened at $53.59 on Wednesday. The firm has a market cap of $8.66 billion, a P/E ratio of 79.99, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. 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 company’s 50 day moving average is $52.06 and its 200-day moving average is $50.64. Knight-Swift Transportation Holdings Inc. has a 12-month low of $45.55 and a 12-month high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last issued its earnings results 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% compared to the same quarter last year. Sell-side analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.1 earnings per share for the current year.

Knight-Swift Transportation Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Friday, September 6th were issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Friday, September 6th. Knight-Swift Transportation’s payout ratio is presently 95.52%.

Analyst Ratings Changes

Several equities analysts recently weighed in on KNX shares. Wells Fargo & Company assumed coverage on shares of Knight-Swift Transportation in a research report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Knight-Swift Transportation from $51.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, July 25th. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a report on Thursday, July 25th. Barclays boosted their price target on shares of Knight-Swift Transportation from $57.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Finally, 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.14.

Insider Activity

In related news, Chairman Kevin P. Knight sold 45,000 shares of the business’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 transaction of $2,318,850.00. Following the completion of the transaction, the chairman now owns 1,422,360 shares of the company’s stock, valued at $73,294,210.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Knight-Swift Transportation news, Director Michael Garnreiter sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now directly owns 17,648 shares in the company, valued at approximately $892,459.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Kevin P. Knight sold 45,000 shares of Knight-Swift Transportation stock in a transaction dated 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 owns 1,422,360 shares of the company’s stock, valued at approximately $73,294,210.80. The disclosure for this sale can be found here. Insiders have sold a total of 85,196 shares of company stock worth $4,367,869 over the last ninety days. Company 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.