Thrivent Financial for Lutherans Buys 6,803 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Thrivent Financial for Lutherans boosted its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,337,737 shares of the transportation company’s stock after buying an additional 6,803 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Knight-Swift Transportation were worth $72,171,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in KNX. Deseret Mutual Benefit Administrators raised its stake in shares of Knight-Swift Transportation by 87.2% during the third 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. Versant Capital Management Inc increased its holdings in 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 purchasing an additional 727 shares during the period. Brown Brothers Harriman & Co. raised 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 purchasing an additional 200 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Knight-Swift Transportation by 168.3% in the 2nd quarter. Blue Trust Inc. now owns 923 shares of the transportation company’s stock worth $51,000 after buying an additional 579 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of Knight-Swift Transportation by 50.7% during the 2nd 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 in the last quarter. 88.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Knight-Swift Transportation

In other Knight-Swift Transportation news, Chairman Kevin P. Knight sold 29,779 shares of the company’s 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ploeg David Vander sold 500 shares of the stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $57.10, for a total value of $28,550.00. Following the sale, the director now directly owns 30,729 shares in the company, valued at $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.00% of the company’s stock.

Knight-Swift Transportation Stock Performance

KNX opened at $55.63 on Monday. The company has a market cap of $9.01 billion, a P/E ratio of 241.88, a price-to-earnings-growth ratio of 1.90 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. The firm’s 50-day moving average price is $53.08 and its 200-day moving average price is $51.06. 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 issued its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the prior year, the business posted $0.41 EPS. Knight-Swift Transportation’s revenue for the quarter was down 7.1% compared to the same quarter last year. As a group, equities analysts anticipate that Knight-Swift Transportation Holdings Inc. will post 1.05 EPS for the current fiscal year.

Knight-Swift Transportation Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a yield of 1.15%. Knight-Swift Transportation’s dividend payout ratio is currently 278.27%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Morgan Stanley decreased their price objective on Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Susquehanna upped their price target on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Raymond James lifted their price objective on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a report on Monday, October 14th. TD Cowen upped their target price on Knight-Swift Transportation from $55.00 to $56.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on Knight-Swift Transportation from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price 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.