Fmr LLC Trims Stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Fmr LLC reduced its stake in Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,303,192 shares of the transportation company’s stock after selling 283,957 shares during the period. Fmr LLC owned 5.13% of Knight-Swift Transportation worth $447,957,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of KNX. Deseret Mutual Benefit Administrators raised its position in shares of Knight-Swift Transportation by 87.2% in the 3rd quarter. Deseret Mutual Benefit Administrators now owns 747 shares of the transportation company’s stock worth $40,000 after acquiring an additional 348 shares in the last quarter. Versant Capital Management Inc grew its stake in Knight-Swift Transportation by 3,461.9% in the second 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 holdings in Knight-Swift Transportation by 28.6% in the second 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. Blue Trust Inc. lifted its position in Knight-Swift Transportation by 168.3% during 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 during the period. Finally, Massmutual Trust Co. FSB ADV boosted its holdings 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 valued at $51,000 after buying an additional 343 shares in the last quarter. 88.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Knight-Swift Transportation news, Director Ploeg David Vander sold 500 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 30,729 shares of the company’s stock, valued at approximately $1,754,625.90. This represents a 1.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Kevin P. Knight sold 29,779 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was 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. 3.00% of the stock is currently owned by corporate insiders.

Knight-Swift Transportation Price Performance

Shares of NYSE:KNX opened at $59.36 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $9.61 billion, a price-to-earnings ratio of 258.09, a price-to-earnings-growth ratio of 2.02 and a beta of 0.93. The business has a 50-day simple moving average of $54.25 and a two-hundred day simple moving average of $51.69. Knight-Swift Transportation Holdings Inc. has a fifty-two week low of $45.55 and a fifty-two week high of $60.99.

Knight-Swift Transportation (NYSE:KNX) last released its quarterly earnings data 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. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same period in the previous year, the company earned $0.41 earnings per share. The firm’s quarterly revenue was down 7.1% on a year-over-year basis. On average, analysts expect that Knight-Swift Transportation Holdings Inc. will post 1.05 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Stockholders of record on Friday, December 6th will be paid a $0.16 dividend. The ex-dividend date is Friday, December 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.08%. Knight-Swift Transportation’s dividend payout ratio (DPR) is currently 278.26%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James lifted their price target on shares of Knight-Swift Transportation from $57.00 to $58.00 and gave the company a “strong-buy” rating in a research report on Monday, October 14th. The Goldman Sachs Group lowered 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 report on Wednesday, October 9th. Susquehanna upped their price target on Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Evercore ISI lifted their price objective on Knight-Swift Transportation from $49.00 to $52.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Finally, Bank of America boosted their target price on Knight-Swift Transportation from $57.00 to $58.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Two research 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’s stock. According to data from MarketBeat, Knight-Swift Transportation currently has a consensus 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.