Cornerstone Capital Inc. Purchases 3,080 Shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX)

Cornerstone Capital Inc. grew its position in shares of Knight-Swift Transportation Holdings Inc. (NYSE:KNX) by 18.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,170 shares of the transportation company’s stock after purchasing an additional 3,080 shares during the period. Cornerstone Capital Inc.’s holdings in Knight-Swift Transportation were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in KNX. Versant Capital Management Inc grew its stake in Knight-Swift Transportation by 3,461.9% in the 2nd quarter. Versant Capital Management Inc now owns 748 shares of the transportation company’s stock worth $37,000 after buying an additional 727 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Knight-Swift Transportation by 28.6% in the 2nd quarter. Brown Brothers Harriman & Co. now owns 900 shares of the transportation company’s stock worth $45,000 after buying an additional 200 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in Knight-Swift Transportation by 50.7% during the second quarter. Massmutual Trust Co. FSB ADV now owns 1,020 shares of the transportation company’s stock valued at $51,000 after acquiring an additional 343 shares during the last quarter. Blue Trust Inc. grew 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 acquiring an additional 579 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Knight-Swift Transportation by 36.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,127 shares of the transportation company’s stock valued at $61,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 88.77% of the company’s stock.

Knight-Swift Transportation Stock Up 1.1 %

Shares of Knight-Swift Transportation stock traded up $0.59 during trading on Tuesday, hitting $53.66. The company’s stock had a trading volume of 225,616 shares, compared to its average volume of 2,047,675. 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 company has a fifty day simple moving average of $52.15 and a two-hundred day simple moving average of $50.47. 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 market capitalization of $8.69 billion, a PE ratio of 230.75, a P/E/G ratio of 1.92 and a beta of 0.93.

Knight-Swift Transportation (NYSE:KNX) last posted its quarterly earnings results on Wednesday, October 23rd. The transportation company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Knight-Swift Transportation had a net margin of 0.50% and a return on equity of 1.81%. The business’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. Equities research analysts predict that Knight-Swift Transportation Holdings Inc. will post 1.06 earnings per share for the current year.

Knight-Swift Transportation Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Friday, September 6th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, September 6th. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. Knight-Swift Transportation’s payout ratio is 278.27%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on KNX shares. Morgan Stanley decreased their target price on shares of Knight-Swift Transportation from $72.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Wolfe Research lowered Knight-Swift Transportation from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 11th. The Goldman Sachs Group lowered their price objective on 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 raised their target price on shares of Knight-Swift Transportation from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, UBS Group lowered their price target on shares of Knight-Swift Transportation from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Knight-Swift Transportation has a consensus rating of “Moderate Buy” and an average target price of $55.94.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the transaction, the director now owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Michael Garnreiter sold 2,000 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $50.57, for a total value of $101,140.00. Following the completion of the transaction, the director now owns 17,648 shares of the company’s stock, valued at approximately $892,459.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert E. Synowicki, Jr. sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $53.32, for a total value of $133,300.00. Following the completion of the transaction, the director now directly owns 21,833 shares in the company, valued at approximately $1,164,135.56. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

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.