RiverPark Advisors LLC Makes New Investment in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

RiverPark Advisors LLC purchased a new position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,010 shares of the transportation company’s stock, valued at approximately $162,000.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in 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 purchasing an additional 727 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its position in Knight-Swift Transportation by 87.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock valued at $40,000 after acquiring an additional 348 shares in the last quarter. Brown Brothers Harriman & Co. boosted its position in Knight-Swift Transportation by 28.6% during the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 200 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position 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 worth $51,000 after purchasing an additional 343 shares in the last quarter. Finally, Blue Trust Inc. lifted 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 acquiring an additional 579 shares in the last quarter. Institutional investors own 88.77% of the company’s stock.

Insider Transactions at Knight-Swift Transportation

In related news, Director Ploeg David Vander sold 500 shares of the firm’s stock in a transaction on Thursday, November 14th. The shares were 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 $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The sale 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 transaction of $1,703,061.01. The disclosure for this sale can be found here. Insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

Shares of KNX stock opened at $55.63 on Friday. The firm has a market cap of $9.01 billion, a price-to-earnings ratio of 241.88, a PEG ratio of 1.90 and a beta of 0.93. The company’s 50 day moving average is $53.08 and its 200 day moving average is $51.03. 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 Holdings Inc. has a 52-week low of $45.55 and a 52-week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last announced its earnings results 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 company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. Knight-Swift Transportation’s revenue was down 7.1% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. On average, sell-side analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current fiscal year.

Knight-Swift Transportation Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be paid 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 (DPR) is 278.27%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. The Goldman Sachs Group decreased their target price on shares of 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. Stifel Nicolaus increased their price objective on shares of Knight-Swift Transportation from $47.00 to $48.00 and gave the company a “hold” rating in a report on Friday, October 25th. Evercore ISI increased their price target on shares of Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Bank of America increased their price target on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Finally, StockNews.com raised shares of Knight-Swift Transportation to a “sell” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Knight-Swift Transportation currently has an average rating of “Hold” and an average target price of $56.38.

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.