Legacy Bridge LLC Trims Position in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Legacy Bridge LLC lowered its stake in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,190 shares of the transportation company’s stock after selling 1,700 shares during the quarter. Legacy Bridge LLC’s holdings in Knight-Swift Transportation were worth $981,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in KNX. Aviance Capital Partners LLC lifted its position in Knight-Swift Transportation by 7.1% during the 3rd quarter. Aviance Capital Partners LLC now owns 100,740 shares of the transportation company’s stock worth $5,435,000 after acquiring an additional 6,668 shares during the period. Quest Partners LLC purchased a new stake in shares of Knight-Swift Transportation during the third quarter worth approximately $88,000. Swiss National Bank lifted its holdings in shares of Knight-Swift Transportation by 0.7% during the third quarter. Swiss National Bank now owns 479,696 shares of the transportation company’s stock worth $25,880,000 after purchasing an additional 3,100 shares during the period. Thrivent Financial for Lutherans grew its position in Knight-Swift Transportation by 0.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,337,737 shares of the transportation company’s stock valued at $72,171,000 after buying an additional 6,803 shares during the last quarter. Finally, RiverPark Advisors LLC acquired a new position in Knight-Swift Transportation in the 3rd quarter valued at $162,000. Institutional investors and hedge funds own 88.77% of the company’s stock.

Knight-Swift Transportation Trading Up 1.1 %

Shares of KNX opened at $56.22 on Tuesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.01 and a quick ratio of 1.01. Knight-Swift Transportation Holdings Inc. has a 1-year low of $45.55 and a 1-year high of $60.99. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 244.45, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The firm has a 50 day simple moving average of $53.18 and a 200-day simple moving average of $51.13.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Knight-Swift Transportation had a return on equity of 1.81% and a net margin of 0.50%. The company had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the business posted $0.41 earnings per share. Knight-Swift Transportation’s revenue was down 7.1% compared to the same quarter last year. Equities analysts forecast 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 announced 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 dividend on an annualized basis and a yield of 1.14%. Knight-Swift Transportation’s dividend payout ratio (DPR) is 278.27%.

Insiders Place Their Bets

In other news, Director Ploeg David Vander sold 500 shares of the firm’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 sale, the director now owns 30,729 shares in the company, valued at $1,754,625.90. This trade represents a 1.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 corporate insiders.

Wall Street Analyst Weigh In

KNX has been the subject of several recent analyst reports. StockNews.com upgraded shares of Knight-Swift Transportation to a “sell” rating in a research note on Thursday, July 25th. The Goldman Sachs Group reduced their price objective on shares of Knight-Swift Transportation from $48.00 to $44.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Susquehanna boosted their target price on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Citigroup cut Knight-Swift Transportation from a “neutral” rating to a “sell” rating and set a $56.00 price target for the company. in a report on Tuesday, November 12th. Finally, Raymond James upped their price objective on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “strong-buy” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $56.38.

Knight-Swift Transportation 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.