Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Bought by Swiss National Bank

Swiss National Bank boosted its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 479,696 shares of the transportation company’s stock after acquiring an additional 3,100 shares during the quarter. Swiss National Bank’s holdings in Knight-Swift Transportation were worth $25,880,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in KNX. Versant Capital Management Inc increased its position 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 valued at $37,000 after purchasing an additional 727 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Knight-Swift Transportation by 87.2% during the third quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 348 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after purchasing an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position 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 worth $51,000 after buying an additional 343 shares during the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Knight-Swift Transportation by 168.3% in the second quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock valued at $51,000 after buying an additional 579 shares in the last quarter. 88.77% of the stock is currently owned by institutional investors.

Knight-Swift Transportation Price Performance

NYSE KNX opened at $56.21 on Friday. The company has a 50 day moving average price of $53.49 and a two-hundred day moving average price of $51.26. 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 capitalization of $9.10 billion, a PE ratio of 244.40, a price-to-earnings-growth ratio of 1.93 and a beta of 0.93. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.31.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings data on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The business had revenue of $1.88 billion for the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The firm’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.41 EPS. As a group, equities analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Friday, December 6th will be paid a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 annualized dividend and a yield of 1.14%. Knight-Swift Transportation’s payout ratio is 278.27%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KNX shares. TD Cowen upped 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, October 24th. Evercore ISI lifted their target price on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the stock an “in-line” rating in a research report on Thursday, October 24th. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. Raymond James lifted their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a research report on Monday, October 14th. Finally, Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 target price for the company. in a research report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $56.38.

Insider Activity

In related news, Director Ploeg David Vander sold 500 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $57.10, for a total value of $28,550.00. Following the completion of the transaction, the director now owns 30,729 shares of the company’s stock, valued at $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kevin P. Knight sold 29,779 shares of Knight-Swift Transportation stock in a transaction on Wednesday, November 13th. The shares were 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. 3.00% of the stock is owned by company 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.