Sumitomo Mitsui Trust Group Inc. Buys 8,283 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Sumitomo Mitsui Trust Group Inc. boosted its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 313,622 shares of the transportation company’s stock after purchasing an additional 8,283 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.19% of Knight-Swift Transportation worth $16,920,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Versant Capital Management Inc raised its position in Knight-Swift Transportation by 3,461.9% in the 2nd 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. Deseret Mutual Benefit Administrators raised its position in Knight-Swift Transportation by 87.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after buying an additional 348 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in Knight-Swift Transportation by 28.6% in the 2nd 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. Massmutual Trust Co. FSB ADV raised its position in Knight-Swift Transportation by 50.7% in the 2nd 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. Finally, Blue Trust Inc. raised its position in Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares during the last quarter. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Stock Performance

NYSE:KNX opened at $55.63 on Monday. The stock has a market cap of $9.01 billion, a P/E ratio of 241.88, a PEG ratio of 1.90 and a beta of 0.93. The stock has a 50 day simple moving average of $53.08 and a 200 day simple moving average of $51.06. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.31. 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 announced its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.41 EPS. Research analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 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, December 23rd. Shareholders of record on Friday, December 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.15%. Knight-Swift Transportation’s dividend payout ratio is presently 278.27%.

Insider Buying and Selling at Knight-Swift Transportation

In other news, Director Ploeg David Vander sold 500 shares of the business’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $57.10, for a total transaction of $28,550.00. Following the completion of the transaction, the director now owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $57.19, for a total value of $1,703,061.01. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on KNX. The Goldman Sachs Group decreased their price target on Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Evercore ISI raised their price target on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Citigroup downgraded Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target for the company. in a research note on Tuesday, November 12th. Finally, StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $56.38.

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.