Knight-Swift Transportation Holdings Inc. (NYSE:KNX) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 2.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,631 shares of the transportation company’s stock after selling 1,100 shares during the period. State of Michigan Retirement System’s holdings in Knight-Swift Transportation were worth $2,328,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Rise Advisors LLC acquired a new stake in Knight-Swift Transportation during the first quarter worth approximately $25,000. GAMMA Investing LLC increased its stake in shares of Knight-Swift Transportation by 67.5% during the 1st quarter. GAMMA Investing LLC now owns 628 shares of the transportation company’s stock valued at $35,000 after acquiring an additional 253 shares during the last quarter. Versant Capital Management Inc lifted its holdings 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 acquiring an additional 727 shares during the period. First Horizon Advisors Inc. raised its stake 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 worth $43,000 after purchasing an additional 283 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of 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 purchasing an additional 343 shares during the last quarter. 88.77% of the stock is owned by institutional investors and hedge funds.

Knight-Swift Transportation Price Performance

Shares of KNX opened at $51.61 on Wednesday. Knight-Swift Transportation Holdings Inc. has a 52 week low of $45.55 and a 52 week high of $60.99. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.24. The firm has a market cap of $8.35 billion, a price-to-earnings ratio of 77.03, a PEG ratio of 1.45 and a beta of 0.93. The stock has a 50 day moving average of $50.94 and a 200-day moving average of $51.35.

Knight-Swift Transportation (NYSE:KNX) last released its earnings results on Wednesday, July 24th. The transportation company reported $0.24 earnings per share 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 for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter in the previous year, the firm earned $0.49 EPS. The firm’s revenue for the quarter was up 18.9% on a year-over-year basis. As a group, analysts forecast that Knight-Swift Transportation Holdings Inc. will post 1.12 EPS for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Friday, September 6th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.24%. Knight-Swift Transportation’s payout ratio is currently 95.52%.

Analyst Ratings Changes

KNX has been the topic of a number of research analyst reports. UBS Group reduced their target price on Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, July 9th. Raymond James cut their target price on shares of 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. Wolfe Research cut shares of Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. Wells Fargo & Company assumed coverage on Knight-Swift Transportation in a research report on Friday, June 7th. They issued an “overweight” rating and a $56.00 price objective on the stock. Finally, StockNews.com upgraded Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $57.14.

Insider Activity

In related news, EVP Michael K. Liu sold 5,696 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $50.33, for a total value of $1,509,900.00. Following the sale, the chairman now owns 1,467,360 shares in the company, valued at $73,852,228.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael K. Liu sold 5,696 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $53.49, for a total value of $304,679.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 85,196 shares of company stock valued at $4,367,869. 3.00% of the stock is currently owned by 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.